162 – Fail to plan…plan to fail!

A range plan is an essential tool for any product business. Without it you are setting yourself up for failure.Yet many of the small businesses that I speak to that are developing products say they don’t have a range plan. Or they don’t even know what it is!So in this episode, I explain what a range plan is and why it’s a valuable tool for our business.And if you really feel like geeking out on why you should not offer your customers too much choice, take a look at this study I mention in this episode. Discover:What is a range plan? 01:45How a range plan can help you to calculate how much you need to spend on stock 03:08When should you create a range plan? 03:28How a range plan helps you to assess whether you are offering your customers too much choice 04:28What to include in your range plan 05:58How to work out how much you need to invest in stock 07:19What's the best way of creating a range plan? 10:15Stay in TouchBritish Brand Accelerator - Find out how you can work with me to build your British-made brandMake it British websiteJoin Make it British - become a member of our community and promote your business in our directory or UK-made brands and manufacturersMake it British on InstagramMake it British on YouTube - subscribe to my YouTube channel to watch many of the podcast episodes as videos.