Happy Halloween! I love this time of year when the trees turn golden colors, the air is getting cool and crisp, and magic is in the air. To celebrate this holiday, I’d like to share a creative way of looking at the small business world. I recently noticed that the Harry Potter series has quite a few insights into running a business and managing inventory, specifically.
So let’s journey to Hogwarts as we discover five small-business lessons from Harry Potter!
Bertie Bott’s Every Flavour Beans live up to their name by offering every flavor known to man, including particularly unsavory ones. But who would really want to taste every flavor imaginable? It’s neither practical nor desirable in the real world.
This is an important lesson for businesses. In most cases, you don’t need to diversify your products too much. In fact, by streamlining your product line and limiting customizability, you can save money and avoid confusion for your customers. That should make the bean counters happy.
1. Limit your product selection
Bertie Bott’s Every Flavour Beans live up to their name by offering every flavor known to man, including particularly unsavory ones. But who would really want to taste every flavor imaginable? It’s neither practical nor desirable in the real world.
This is an important lesson for businesses. In most cases, you don’t need to diversify your products too much. In fact, by streamlining your product line and limiting customizability, you can save money and avoid confusion for your customers. That should make the bean counters happy.
2. Find your niche and stick with it
Wands play a major role in the world of Harry Potter. It makes little difference which broom, feather pen, or cauldron a wizard uses, but every wand is unique. Its effectiveness depends primarily on the personality of the wielder. Harry goes through several wands at a store before he finds the right one that’s meant for him. Like Harry, you need to find what works for you and stick with it. What makes your company different than any other company? What keeps your customers coming back? Find your special traits and make those your big selling points. Are you the fastest, most attentive, kindest, least-expensive provider of your specific products or services? Let people know, and before you can say abracadabra they’ll come and see what makes you so special.
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