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New York business consultant and author Rita Gunther McGrath added: "The big disadvantage of (Orange's) approach is that the people you will tend to attract are those with more time than money.
"The people advertisers tend to want to reach are the ones with more money than time. So you actually create a self-selected group of particularly undesirable users for many offerings if you offer this to the general public," Gunther McGrath continued.
Targeted ads might be more effective, Gunther McGrath said, but "the big dilemma is that for many extremely desirable customers, sitting through ads, no matter how targeted, is considered a waste of time."
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"There's been quite a bit of research that suggests [that] small businesses that allow themselves to get too diversified too early lose focus," says Rita Gunther McGrath, a Columbia Business School associate professor and co-author of MarketBusters: 40 Strategic Moves That Drive Exceptional Business Growth. "The dilemma for small companies is [that] you have this real tension between the cost it requires to maintain flexibility and the conservation of resources it takes to keep yourself going."
To read the entire Is Your Business Model Flexible Enough? article at MSN.com, click here. It was originally published at Entrepreneur.com.
"... location choice, lack of experience, underestimating the costs and effort are typical mistakes entrepreneurs make that lead to their business closing," said Rita Gunther McGrath, an author and professor at the Columbia Business School.
"People are usually overly optimistic when they go into the business," she said. "I always say triple the money needed, triple the work and then think about it."
For the entire No Happily Ever After for dream article at AZ Center click here.