Thursday, August 26, 2010

Diversity

"With the casino and the beds, our passengers will have at least two ways to get lucky on one of our flights."

Richard Branson .

There is a lot of truth in what Mr Branson has said here.  Having a single product that only does one thing or achieves one output just isn't doing enough.  You may have one product - but that product must have multiple benefits or outcomes if it is going to be successful.

Here is an idea based on research theory.  Every piece of research should have three outputs -
  1. The actual research.
  2. The peer review.
  3. The publication of the findings.
So from one base piece of research the researcher and the backing organisation actually record three separate outcomes from the one piece of work.

One of the great lessons I learned from my MBA lecturer Jens Mueller was to be able to "smell the money".  What may seem like a basic or simple business design fron the front may actually have many different value adding or revenue increasing opportunites that you just haven't seen yet.

So the question is - how many outcomes do you produce in your line of work?  Can you measure those outcomes?  And who do those outcomes affect?

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