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Don't be scared to innovate, and to cut your loses.
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2019 we had massive succeses but we also had many failures. It's all about testing in the early stages of business. We come up with a product or service and test it. If it works we double down. If it doesn't we cut it loose. Apple is a great example of this, they continually bring revolutionary products to market. They also cut the ones that don't catch on. You can't be afraid to try, but you also cant be scared to cut your loses. In 2020 double down on your wins, continue to launch new products and services. But also cut the loses before they cut you.
Categories:Education/Finance
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Auto-generated transcript. Not time-synced to the video.
good morning good morning Beryl Solomon
here Big B how you doing so I'm on my
way to work in the back seat by the way
I'm not driving don't worry about it
right now I've been going through in my
mind at least what has been working this
year what hasn't worked and we're
trimming the things that have not worked
and we're doubling down and tripling
down on things that have worked so we
started at the beginning of the year a
product that we thought was gonna
revolutionize our business take over
what we were doing and completely focus
on it we went so hard on it for six
months then finally about four months
ago we decided no more not good makes
Appliance upset cannot control the
outcomes not a product for us then we
had another product which is like the
testimonial videos which was a complete
experiment at the beginning and Wow the
thing blew up we sold hundreds of
thousands of dollars of that product in
a very short amount of time clients love
it feedback is great so we're gonna be
doubling down on that in 2020 we have a
new product that we are going to be
demoing in the next little bit and
really if it if it goes if it goes well
we're gonna really be doubling down on
this in 2020 I think the message and I'm
trying to get across here is that a
business evolves right it's not like a
product or a business comes out right
that comes right out the gate and it's
ready to go and everything's perfect
even if you take Apple for example they
didn't start off as Apple the giant that
you know is today they started off with
their Mac and then they started off with
the you know Apple iPod with the rolling
thing and then they went into phones and
so the company evolved over time and
there's been many Mac products by the
way many Apple products that you don't
even remember because they were
completely unsuccessful but it didn't
stop the company from their R&D it
didn't stop the company from trying new
things so 2019 has been a very big year
for his very for us very pivotal in
trying out new products trying to what
works cutting things that don't and 2020
will be the same deal except now that
we've found a whole bunch of things that
have worked will not start on our
revenue base from zero right we're
starting our revenue base from things
that have worked over the past two three
years so that's keeping the day-in
day-out you know money coming in and
revenue
coming into the company which leaves us
a little bit of wiggle room to try new
new products in 2020 so if you had a
good year god bless you if you had a
rough year guess what in next few weeks
you have a new opportunity and a whole
new chance but don't be afraid to try
things don't be afraid to cut things
that are also not working hope this
brought you value of God bless