3 Tips to Declutter Your Product Offerings

Jurate Gulbinas   |   28 Jan 2017   |   2 min read

Simplicity is key! The easier your product is for consumers to use and understand the more likely they will be to purchase it. Stick to your roots; knowing who you are and what you’re good at as a company can make all the difference. try to adapt your specific product to allow different application. A company can have many products that are simple to use not just one so don’t limit yourself.

Key Takeaways:

  • Applied Underwriters, a workers compensation insurance carrier and payroll company, had crafted a complex form of workers comp coverage it called a “profit-sharing” element.
  • Essentially, if a client company experienced few or no losses, it would reap savings. Conversely, if that same company saw heavy losses, its costs would soar, to a price ceiling.
  • The trouble was, all the ins and outs in the company’s policy were buried under dense legal jargon: Terms like “cession point,” “loss development” and “run-off term” befuddled clients, confusing them as to what they were getting into. The eventual result: multiple lawsuits against the company.

“The core value of a product gets diluted in the flood of flashy extras.”

https://www.entrepreneur.com/article/287695

Download our eBook “Moving To The US”

Disclaimer:
This document is intended as an information source only. The comments and references to legislation and other sources in this publication do not constitute legal advice and should not be relied upon as such. You should seek advice from a professional adviser regarding the application of any of the comments in this document to your fact scenario. Information in this publication does not take into account any person’s personal objectives, needs or financial situations. Accordingly, you should consider the appropriateness of any information, having regard to your own objectives, financial situation and needs and seek professional advice before acting on it. CST Tax Advisors exclude all liability (including liability for negligence) in relation to your reliance in this publication.

NEED ASSISTANCE FOR YOUR SITUATION?

Contact us today
Contact Us

"*" indicates required fields

Do you need tax services in our other regions?
By providing us your information you agree to our privacy policy

More articles like this

 

Six Ways I Built A Career Traveling The World In My 20s


18th Feb 2017
Jurate Gulbinas

A lot of young people have a dream to travel the world This is one person's take on that They did it and actually used it to get a career going They were in their twenties It's pretty impressive to...

 

9 Daily Habits of People Who Are Relentlessly Confident


17th Feb 2017
Jurate Gulbinas

You are going to die, and when you die no one is going to remember that you didn't answer the question right, no one is going to remember that you said something awkward after class Remind yourself...

 

A 30-something who spent 11 years traveling to 193 countries shares his favorite money trick


16th Feb 2017
Jurate Gulbinas

Just before he turned 35, Chris Guillebeau visited his 193rd country, completing his quest to visit every nation around the world But Guillebeau, now 39, wasn't able to afford it because of a...

 

Six Ways I Built A Career Traveling The World In My 20s


18th Feb 2017
Jurate Gulbinas

A lot of young people have a dream to travel the world This is one person's take on that They did it and actually used it to get a career going They...

 

9 Daily Habits of People Who Are Relentlessly Confident


17th Feb 2017
Jurate Gulbinas

You are going to die, and when you die no one is going to remember that you didn't answer the question right, no one is going to remember that you...

 

A 30-something who spent 11 years traveling to 193 countries shares his favorite money trick


16th Feb 2017
Jurate Gulbinas

Just before he turned 35, Chris Guillebeau visited his 193rd country, completing his quest to visit every nation around the world But Guillebeau,...