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Words that strike fear into my heart

Here is a question for you. How reliable do you think business models are in producing the same results every time they are used? This questions leads some managers to ask those fearful words: "What is the statistical probability of the outcome of the model?". The question is not unreasonable if you are spending time and money going down a certain path; you want to know the dependability of the model in generating a predicted result? Models are theoretical frameworks. There are too many variables for them to be predictive to plus or minus 5%. Take the AIDA model for example. This framework tells us that action can only take place when there has been a build-up of awareness, interest and desi

The secret of continued success

What is the secret of continued success? Well here’s a thought - it is the ability to continuously innovate. It is the ability to second-guess what customers will be wanting next year and the year after so that you are ready to serve them and steal a march on the competition. "Woah" you might say, "surely it is possible to be successful without innovation". It depends what you mean by successful. There are a few old companies around, not many, but enough for us to use as examples. Cadwalader, Wickersham & Taft is a firm of lawyers in the US that was established in 1792 - but I wager that you have never heard of them even though they employ more than 400 attorneys. In the UK, RJ Balson & Son,

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