The Profit Prophet

Since Christmas is only 5 days away, I wanted to send you off with some good cheer. As you know the new diagnostics equipment out there is awesome, so much so it may give you results you never expected. Thanks Jim for the forward… and Merriment to All! One day, in line at the company cafeteria, Joe says to Mike behind him, "My elbow hurts like hell. I guess I'd better see a doctor." "Listen, you don't have to spend that kind of money," Mike replies "There's a diagnostic computer down at Costco. Just give it a urine sample and the computer will tell you what's wrong and what to do about it. It takes ten seconds and costs ten dollars - A lot cheaper than a doctor." So, Joe deposits a urine sample in a small jar and takes it to Costco. He deposits ten dollars and the computer lights up and asks for the urine sample. He pours the sample into the slot and waits. Ten seconds later, the computer ejects a printout: "You have tennis elbow. S...

One of my colleagues, Patti Hill , former CEO of PR Firm Blabbermouth, and now PenmanPR, asked the question about the value of having "nano" inside. She points out that the consumer marketplace has become rich with nanotechnology-based or enhanced products from sunscreens to water repellent and stain-resistant clothing, gum, car wax, sporting equipment, heat-resistant windshields, consumer electronics, and nanoparticle-laden cosmetics. Do consumers really care? This goes to the heart of what I always talk about: technology v. benefits. Having "nano" means nothing unless there are concrete benefits of having nano technology. Also, nano has become so generic (like quality, value, etc.), that it really does not mean anything anymore. Now, if you are using nano-technology to improve something, or invent something new, it could be considered beneficial (ie. WiFi capable printers). The big mistake that technology companies always make is assuming peop...