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Monday, September 19, 2016

Words of wisdom for entrepreneurs hoping to make it big in the ageing business

As usual, Laurie Orlov hits the proverbial nail on the proverbial head when she offers some advice to start-up companies competing for assistance to launch their products into the ageing busienss.

Like me, it sounds as if she heard the revelations from from budding entrepreneurs about how they were motivated to to start a business having seen their aged grandmother grapple with some issue or another and decided they had just the solution. That might be terrific reason to initiate thinking about a new idea but it is no substitute for good old market research.

Before I get a comment about Steve Jobs never using research or focus groups let me say that 99.999% of these new venturers will never have the same insights and personality as Mr Jobs.

I would offer just one sentence of advice. The ageing business is no different from any other. It requires all the good old fashion skills of marketing and immaculate project management. Boring though these might be, without them you don't stand a chance. You might make your grandmother happy but you are likely to waste a lot of your own time and money. Dick Stroud

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