162 – Fail to plan…plan to fail!
A range plan is an essential tool for any product business. Without it you are setting yourself up for failure.
Yet many of the small businesses that I speak to that are developing products say they don’t have a range plan. Or they don’t even know what it is!
So in this episode, I explain what a range plan is and why it’s a valuable tool for your business.
And if you really feel like geeking out on why you should not offer your customers too much choice, take a look at this study I mention in this episode.
- What is a range plan? [01:45]
- How a range plan can help you to calculate how much you need to spend on stock [03:08]
- When should you create a range plan? [03:28]
- How a range plan helps you to assess whether you are offering your customers too much choice [04:28]
- What to include in your range plan [05:58]
- How to work out how much you need to invest in stock [07:19]
- What’s the best way of creating a range plan? [10:15]