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162 – Fail to plan…plan to fail!

Podcast Ep.162

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.

 

Discover:

  • 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]

Comment on this episode

4 Comments

  1. Geoffrey Moulds on April 18, 2021 at 3:24 pm

    I watch these podcasts as a consumer and I would say it is entirely correct that too much choice is not good. If confronted with a massive choice it is usually impossible to know which is best for your circumstances and there is usually not any information to help so I invariably go elsewhere.

    • Make it British Make it British on April 25, 2021 at 12:26 pm

      Thanks for your comment Geoffrey. It’s great to hear this feedback from a consumer perspective

  2. LASLETT ENGLAND LASLETT ENGLAND on April 21, 2021 at 6:13 pm

    Great advice Kate!

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