5 Reasons Why Multitasking May Not Be Good for Business

March 9, 2012 in Critical Success Factors, Processes, Product/Market Fit, Risk

1. Multitasking leads to lessened efficiency. The human brain can really only focus on one thing at a time. Although you may feel that you are getting more done in less time, your brain actually needs more time to switch its focus between tasks.

2. Confusion can cause ineffective results. If your employees are constantly switching their focus between tasks, details will get muddled and confusion will ensue.

3. You are not getting the most out of limited resources. Product development can suffer when resources are incorrectly allocated. Multitasking takes focus away from devoting the proper amount of time to each project.

4. Employees can become burned out. Filling every spare moment with a different task seems like the best project management strategy, but weary employees will become less productive than if they had time for mental breaks earlier in the process.

5. The team is no longer a team. Multitasking often turns into an individual’s game as each employee finds different pockets of time to devote to a product assignment. The “two heads are better than one” strategy for product development will cease to apply.

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Risk Taking? Create A Product Instead.

February 17, 2012 in Processes, Product/Market Fit, Risk

It is not possible to know how many products are conceived that never see the light of day, or that never make it past the “passing thought” stage. It is not even possible to know how many times people take a shot at creating a new product and fall flat on their faces. But we can probably make a good guess, and say that new product development is fraught with difficulty, and highly risky for those who choose to invest in new idea.

However, it is also one of the most gratifying experiences life has to offer. Creating a new product from scratch means having to think through the technical processes of the product itself. It means understanding, in advance, what need the product fills. It means gathering the investment dollars required to bring it to market. And it means creating and sustaining a business in order to make the product successful in the marketplace. Failure at any one of these stages will doom the product.

That said, if your product makes it, you will change the ways lives are lived. And what could be better than that?

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The Silicon Valley Habitat – Top Ten Characteristics of the Entrepreneurial Haven

October 19, 2011 in Competition, Culture, Innovation, Risk

On average, software and Internet companies invest 11.4 percent of their sales on Research & Development (R&D), according to Barry Jaruzelski, a partner with consulting firm Booz & Co. The leaders in the Silicon Valley spend as much 32 percent of sales on R&D. What is apparent in the Silicon Valley is “Companies that invest earlier are the ones that survive and win,” says Ray Wang, an analyst with the Altimeter Group in San Mateo, California. Read the rest of this entry →

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