Monthly Archives: October 2009

Never forget the basics

In recent weeks I have spent quite a lot of time watching my new favorites tv-shows The Apprentice (US) and Dragons Den (UK). “Its all about business”. Not only do I watch those cause they are entertaining, but I find them worthwhile. For the Apprentice a group of individuals is competing against each other for a job for Donald Trump. Here they have to show how great they are in a number of tasks and showing their skills.

And in Dragons Den aspiring entrepreneurs pitch their ideas to the “Dragons”, successful business men and women who really are inverters. They have to prove that their business ideas and products are worth investing in. And often that they as individuals are investible.

Both these shows had made me think quite a lot of the basics in everything. How we must never forget or underestimate the basics of every business and theories. I have read many books in recent years about the development of business models, the web, new media and marketing. Everyone claim to show how things have changed and how to utilize the new tools to reach the new, hard do reach, audience. Many seems to think that we have to rethink how we work completely. But I think its more important as ever to remember the basics. Just because we shop on the web, doesn’t mean the basic retail theories doesn’t apply. They have just taken other forms. Its still about working with  the shop, products, prices, getting people in the shop and get the to purchase, and then get back. We have better tools to work with, but the basic principle still apply.

In the Apprentice it often seems like the candidates complicate thinks in their task, ignoring the basics. And therefore fail in some of their task, sometimes there i just lucky and it works out for them either way.

The same can be said about the entrepreneurs in Dragons Den. They have really good time to prepare for their, not to mention working on their core business. And yet, when they come to the Den they often fall flat under the interrogation from the Dragons. They don’t know their number, their markets or the basic fundamentals of how to run a business. Not to mention, lacking some common sense. And this have made me even more interested in the basic of business.  To start with, then I can always expand my knowledge. As my new vision is to eventually be a Dragon.

Even as new business theories and areas is introduced, the basic is still true in everything. Its just that they have evolved. Even though I work with E-retail on GamersGate, I still bought a book in regular retail basic theories and practices. To not forget the basics.