Category Archives: Business Strategy

When I was running my own business, I noticed something striking: about 20% of our products were generating almost 80% of our profits. At first, I ignored that imbalance and tried to give equal energy to every product line. The result? Cash flow headaches. Too much money was tied up in slow-moving items. What IContinue reading “Pareto Principle (80/20 Rule): How to Work Smarter in Business & Life”

Business isn’t just about hitting targets, it’s also about how you manage expectations along the way. Sometimes, people choose to hold back on what they can really deliver. They under promise, play it safe, and then wow everyone by going above and beyond. That calculated move is called sandbagging. As Warren Buffett once said, “Managing expectations isContinue reading “What Does Sandbagging Mean in Business?”

Have you ever released a new product and watched it steal all the thunder (and sales) from one of your old best-sellers? That, is what we call cannibalisation in business. Or if you’re from the U.S., it’s cannibalization in business. Different spelling, same delicious problem. Cannibalisation in business happens when a new product or serviceContinue reading “Cannibalisation in Business: How to Stop Competing With Yourself”

What is Cognitive Dissonance? Cognitive dissonance is a psychological concept that describes the discomfort people feel when they hold two or more conflicting beliefs, values, or attitudes. This discomfort often motivates individuals to reduce the inconsistency by changing their beliefs, attitudes, or behaviours. For example, if someone believes that smoking is harmful but continues to smoke,Continue reading “Examples of Cognitive Dissonance in Consumer Behaviour”

Updated October 2025: You’ve probably heard it before; usually muttered by a manager or business owner: “No one is indispensable.” It’s one of those lines that sounds confident but often hides a mix of fear and misunderstanding. And every time I hear it tossed around, I feel a very specific kind of crankiness brewing. MaybeContinue reading “No One Is Indispensable: Why That Phrase Deserves a Second Look”

The advantages of specialisation of labour have been observed for centuries, shaping economies and businesses in significant ways. Specialisation refers to the process where individuals, groups, or regions focus on performing specific tasks or producing certain goods more efficiently. By breaking down tasks and assigning them to specialized workers, productivity increases and economies benefit. Here are theContinue reading “Advantages of Specialisation of Labour”

In business, “G&A” and “overhead” are terms often used when discussing costs. While some people believe these terms mean the same thing, they are not exactly identical. It is important to understand the differences between G&A and overhead costs, as well as how they fit into a company’s operating expenses. So what is the differenceContinue reading “G&A Versus Overhead”

Psychological pricing is a strategic approach used by businesses to influence consumer behaviour by appealing to their emotions and perceptions rather than their logic. This pricing strategy is based on the idea that certain prices have a more significant psychological impact on consumers than others. By understanding how consumers perceive prices, businesses can set pricesContinue reading “Psychological Pricing Advantages & Disadvantages”

Penetration pricing is a strategy where a company sets a low initial price for a new product or service to quickly attract customers and gain market share.  This approach is often used when entering a competitive market or launching a new product that consumers might not be familiar with.  While penetration pricing can be anContinue reading “Advantages and Disadvantages of Penetration Pricing”

JIT production is a manufacturing philosophy that focuses on reducing waste by receiving goods only as they are needed in the production process. This approach has revolutionized the way companies manage their supply chains and has become a cornerstone in the operations of many successful businesses. However, like any methodology, JIT production has its advantagesContinue reading “Advantages and Disadvantages of JIT Production”