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What's Your "Next Big Thing" - and Will It Succeed?

 
  William K. Thorpe, Partner, CFO Edge, LLC  
   
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  Article Summary  
Apple's recent introduction of the Apple Watch brings to the forefront a two-part question for Los Angeles and Southern California executives: What's your "next big thing" - and will it succeed?

Extending this example - and looking beyond Apple's successful R&D, product design, and promotion - is its laser-like focus on what their next big things are really going to be, as well as what they're not going to be.

A culture in which thinking creatively is followed by rigorous internal processes of evaluation and development is essential in meeting customers' needs and driving product or service success.

Reviewed in this article are the importance of thinking differently along with four critical questions to ask as part of your "next big thing" research, testing, and development processes.

Also explored is how a third-party resource such as a CFO services professional can be invaluable in bringing an objective and experienced view to your due diligence.

Beneficial contributions from a professional of this nature include early identification of challenges, opportunities, and launch strategies – all helpful in better forecasting success, costs, revenue, and profits.

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