M20 Learning from experience

TradeMicro Enterprise
  • Few small businesses start up and are an immediate success. Success may only come through the experience of many failures. Developing new ideas can be painful and many changes may first be required. Always try out new ideas in a small way, preferably alongside existing goods which already have a market.
  • Remember that sometimes it may not be necessary to change the product, just to change the way you sell it. Try different ways of displaying products, new labels, new wrapping materials, different sizes, different combinations. If sales of fresh fruit are poor, try drying fruit and packaging it or making it into fruit juice. Try cleaning up bottles of palm oil and designing a bright new label.

Discussion 
  • How many people have tried out a new idea and been discouraged because it failed?
  • Share the stories. As a group, you may be able to suggest other ways the ideas could have been developed.
  • Think of everyday products that are used locally. Can you think of better ways of presenting them – for example, different colours, labels, packaging or sizes?