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manage your risk
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Overview Transcript Case Study Video
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Jodi, Lanny's wife launched the catering business.
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Test New Ideas
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Take a risk to try an idea, but start small.

Topic for Discussion: How did the new products and services at Joe T's come into being?

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Key Ideas of this episode
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1. Become An Icon
2. Pay Attention To Details
3. Be The Person Your Children
Want To Work For
4. Treat Suppliers Like Family
5. Develop New Products To
Develop New Leaders
6. Start With Quality Ingredients
7. Find Joy In Every Task
8. Test New Ideas
9. Keep It Simple
10. Make Work Your Recreation
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Answer: Slowly. Jodi says that all of their new product successes started with a little idea that someone thought would be fun to do. Someone thought, let's have a bakery. There is no place for Mexicans and lovers of Mexican bread products to buy them in Fort Worth or Dallas. Then someone said, everyone loves our hot sauce so let's bottle it and customers can take it home. Hope's mother said, let's add the swimming pool so the kids can swim.

You can carefully test an idea before you invest too much time and money in it. Let the marketplace tell you if you can make money on it or not. By starting small, no one suffers too much if the customers don't buy.

You think about it: What should you test right now? What do you think your customers need or want?

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