Brian Nichols’ Post

Ever been tempted by slick new software from an up-and-coming company? 🌟 It's easy to get drawn in by cool features and edgy branding. But remember, the software you pick is much more than a tool; it's a vital supplier for your business. Here's my perspective: reliability should be your top priority. Here’s why: • Customer Service: You want a team that's responsive and resolves issues quickly. • Continuous Improvement: A great software supplier doesn’t just sell you a product; they improve it consistently. • Listening Ear: They should care about your feedback and integrate that into future updates. • Cost vs. Value: Cheaper isn't always better. Think about the full picture. Too many jump for the low-cost option without a deep dive into their actual needs. Result? Frustration mounts when you realize you're locked into a platform that doesn't evolve with you. Transitioning to another system later can drain more resources than you expect. So, before you leap for that flashy new tool, take a step back. Think strategically about your software choices. Your business depends on it, and a thoughtful approach can save you a lot of headaches down the road. Let's choose smart, not just shiny! 💡🔍

Let us demonstrate how our platform helps businesses build and grow, and provide a specific example of the benefits of using Lumini for various types of businesses. Imagine you’re the owner of a small sports goods store. You want to expand your product range, but you’re unsure which products will be popular among your audience. Lumini can be your invaluable assistant in this process. With our platform, you can find ready-made solutions for analyzing demand for products, recommendations, and methods to gather customer feedback and analyze it. This way, you can make informed decisions regarding expanding your product range and increasing profits. Now, let’s imagine you’re the owner of a small consulting company. You’re looking for an efficient way to automate some routine processes to focus on strategic tasks. Lumini can provide you with access to various tools and resources to help optimize your work. For example, you can find ready-made templates for business plan development, time-tracking automation software, or solutions for management skills development. Thus, Lumini becomes your essential partner in any business, regardless of its size or nature. Join us today and see how your business grows with Lumini!

Validate "Willingness to Pay" is The Key to Product/Market Fit It helps you: → Create products that people will actually pay for → Understand true customer demand → Avoid wasting time and resources → Build a sustainable business → Gain insights directly from your market And the best part? → You control your product’s destiny. Want a successful product? → Put in the work. The growth is exponential. In the beginning, I built software's based on assumptions. I quickly learned that liking something is not the same as paying for it. I set up a simple website for signups and preorders. This became my main source of insights into customer behavior and preferences. Through this site, I discovered why users bought or didn't buy, and whether they understood its value. The feedback helped me adjust pricing to better reflect the value provided, ensuring customers saw the worth of my product. This process allowed me to make rapid, informed adjustments, aligning my product more closely with market demand ( I use Product Hunt to validate willingness to pay) Ultimately, I found that validating willingness to pay was fundamental to discovering the right product/market fit and supporting business growth. Knowing my product met a real demand gave me the confidence to scale and grow. And most importantly: Creating Value for customers while building a sustainable business. It's not just about building a product. It's about creating a lifestyle of continuous learning and adaptation. All you need is: • A willingness to test and iterate • A focus on real customer feedback P.S. What would your ideal validation process look like?

I wholeheartedly agree with Sana Khalid's perspective. Contrary to popular belief, running a successful business isn't rocket science; it's about matching the right product or service with the right audience at the right price point and by leveraging the principles of the 7Ps of Marketing, one can effectively steer their venture towards profitability. However, the landscape has evolved, marked by fierce competition. To thrive sustainably, businesses must now offer something distinctive. Whether it's a commitment to ethical practices, unparalleled quality, exceptional customer service, strategic positioning, or compelling pricing strategies, differentiation is key in today's dynamic market. Another crucial aspect to consider is branding. In today's competitive landscape, branding has emerged as a powerhouse for businesses. It's imperative to distinguish yourself through effective brand positioning and foster unwavering brand loyalty. Simultaneously nurturing both your business brand and personal brand is paramount to establishing a strong presence in the market.

Every small business should have 01.Minimum Viable Product. 02. Main Product. 03. Profit Maximiser. We. should pitch our Minimum Viable Product to early adopters of minimum Viable Market. This minimum viable market will then talk about your product and viralise the product if product is of good quality and you give good Aftersales service of the product. Then upsell yr main product. Around 60 percent will buy the main product. Then again you upsell the profit Maximiser to the same market. Around 20 to 30 percent will buy the profit Maximiser. What do you say? Please comment.

Business Models Start with Revenues 💡💰 Developing a business model hinges on setting the right revenue expectations. Pricing strategies vary significantly depending on the perceived value of the service and the alternatives available to customers. Some businesses drive demand with low prices, while others opt for premium pricing to signify higher value. 🏷️📈 Many companies bundle services or products at a single price point, whereas others prefer an a la carte pricing model, charging separately for each offering. Notably, some, like Google, offer their services free to one customer segment while monetizing customer and data access by charging another set of customers. 🆓🌐 This dual-customer approach highlights the complexity and versatility in how companies can structure their revenues to build a successful business model.

Every small business should have 01.Minimum Viable Product . 02. Main Product. 03. Profit Maximiser. We should pitch our Minimum Viable Product to early adopters of minimum Viable Market. This minimum viable market will then talk about your product and viralise the product if product is of good quality and you give good Aftersales service of the product. Then upsell your main product. Around 60 percent will buy the main product. Then again you upsell the profit Maximiser to the same market. Around 20 to 30 percent will buy the profit Maximiser. What do you say? Please comment.

It’s Not Just About Looking Good; It’s About Getting Results! You know how we all like things that look nice? Well, in business, just looking nice isn’t enough. We need things that work well and help the business grow. That means making smart choices that bring in more money and success. So, what should we do? Instead of just making things pretty, let’s focus on making things that solve problems and help the business do better. Like finding easier ways to do tasks, understanding what customers like, and making sure everything we do helps the business grow. It’s like when you choose a tool or a gadget. You don’t just want it because it looks cool; you want it because it does something useful for you, right? In business, it’s the same. We should make things that don’t just look good on the outside but also do great things for the business, like saving money or bringing in more customers. That’s the real win! Manish Sinha

How Automation can help you sell your Company for higher multiples: Last week, I was talking with a new client I'm starting to work with. He was telling me his goal is to sell his business within the next 5 years. But he knows in order to sell his business, he needs a more efficient operation. He knew he needed to build a business that could run without him having to do all the work. So if your goal is to exit from the current business you're building... But your business can only function or grow with you being present in the operations... Then it's going to be difficult for you to sell your business. Keep this in mind as you build your business. And start slowly detaching yourself from the day-to-day operations. This is where automation comes into play. Automation is a cost-effective way to: • Increase your margins • Strengthen your operations • Complete the manual processes within your business And arguably the most important benefit of using automation is that your business is more scalable. Buyers are looking for companies that are scalable. Scalable operations. Scalable revenue and upside for more growth. Because it's difficult to grow a company that needs to hire a bunch of people in order to make it to the next level. So by having the automations in place for your business... You automatically have more upside for growth in the eyes of your buyers. Which means your business will be able to sell for a higher multiple.

I’m sure you’ve experienced the "oh no second"—that moment of panic when you realize you’ve made a mistake. Things like sending an email too soon or ordering way too many items. For instance, Gmail’s "undo send" feature has saved me countless times by giving me a chance to fix my mistakes. From a UI perspective, an undo option, like a banner after an action, reassures customers and offers a quick way to reverse mistakes. The key is to make the option prominent and easily accessible, with clear messaging and a reasonable time window for customers to reverse action. These small details boost customer confidence, reduce frustration, and increase conversions. The best products offer customers a way to undo their actions. Simple features like "undo send" or “modify order” build trust and positively impact your bottom line. Customers want features that help them feel in control. Why should a head of marketing care? Because when customers feel in control, they’re more likely to trust your brand, stay engaged, and complete their purchases. Don’t underestimate these small details—they add up to a big deal. What “undo” option can you add to increase customer confidence, and in turn, business results?