Business Education

Microsoft will Ditch its Own Tech in Favor of Rival Google — Here’s What it Means to Your Business

If you haven’t heard this news, that’s okay. It’s really a niche story but it does make a very important point. Here’s the short version. Microsoft tried to create its own web browser to replace Internet Explorer. It’s known as “Edge.” And, the code behind it has proven too troublesome. So, the software giant will build a new web browser-based on the technology Google uses to power Chrome.

What it Really Means to Reinvent the Wheel

Let’s get to the real meat of this cliché. Like many other adages, it’s a truism. The reason people say it is precisely because it is an unavoidable fact. It makes a very blunt point. That is, the wheel already serves a purpose and there’s no need to try to come up with something better because it works so well.

The general public typically has a distorted view of entrepreneurship. They think of visionary leaders who created something no one had ever seen before and became household names in the process. While it’s true that some figures have achieved this level of notoriety, the reality for 99 percent of entrepreneurs is very different. Their success is based not on creating an earth-shattering new product from scratch, but on learning what their customers want, making user-centric adjustments to existing products or services and providing it for them.
—Inc.com

We’ve all heard the saying more than one time. But, it still alludes business leaders who believe they can do “it” better, whatever “it” might well be. Call it hubris or stubbornness, it can get the best of the best.

How Entrepreneurs can Avoid the Reinventing the Wheel Trap

So, how does one avoid the temptation to reinvent the wheel in business? It’s not simple because the urge is so very strong to come up with the next big thing. Here are three ways to avoid the reinventing the wheel trap:

Take a step back. If you feel the compunction to try to reinvent the wheel, take a step back look at the big picture. Take a deep breath and think about how to incorporate what you need that already exists instead of trying to come up with something new.
Ask for team member input. Okay, here’s another cliché, “two heads are better than one.” And, it’s also a truism. Getting different perspectives and points of view can really work wonders.
Apply your existing resources. You might already have the tools on-hand to accomplish what’s needed. Put those to good use rather than putting a lot of extra time and effort into something which might not pay off.

How do you avoid the urge to reinvent the wheel? What practices work best? Which steps can other entrepreneurs take to avoid this mistake? Please, comment and give us your experiences!

Interested in learning more about business? Then just visit Waters Business Consulting Group.

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How to Think Clearly when Times are Crazy

May 12, 2020 No Comments

Only a few short months ago, the economy was on fire. Then, a slow moving disaster crept across the globe. Shortly after, the coronavirus pandemic triggered a drastic response. An almost total shutdown ensued. Now, re-openings are happening everywhere. But, the unprecedented reaction upended so much, it’s very difficult to return to normalcy. And, it’s enough to make your head spin. The Real Cost of Rash Decisions Rash decisions typically equal regret. But, it’s not just the let down. It’s also the waste of time and money. We all know this, which is precisely why we instinctively hate making rushed decisions. It’s the reason we take time to understand the circumstances. But, when the pressure is on, it’s difficult to resist in the moment. …we need information and we need help to face our problems. But we can only arrive at the solutions by ourselves. The trick is giving our minds the space they need. —Psychology Today Everyone responds to stress differently. Although, there are most definitely commonalities. Fast heart beat, perspiration, even trembling, are all physical symptoms. Then, there’s the toll it takes on your emotions and it becomes very difficult to think clearly. Effective Ways to Think Clearly So, just how do you clear your head? Most people will take a deep breath (which makes the list below). But, sometimes, that’s not enough. Here are some helpful suggestions for how to think clearly during crazy times: Take a deep breath. Okay, this is an obvious bit of advice. But, it bears repeating because it’s not only simple, but often, effective. Taking a moment to slow down and breath deeply can work wonders. Unfortunately, this isn’t always sufficient. Focus on the problem, not the outcome. While taking a bit of time out might help, it could fall short. If you’re worried about the outcome, that’s perfectly normal. But, if that worry is preventing you from taking any action, then focus on the problem or process and not the potential outcome. Hope for the best, plan for the worst. Of course, it’s always best to plan. So, follow the old adage and plan for the best result while being prepared for the worst case scenario. If you can’t completely sidestep a bad outcome, at least mitigate its impact. Solicit advice from several sources. Two heads are better than one. This not only gives you different points of view, it also helps to take the pressure off and gives you more options. Remember, you don’t always have to make decisions alone. Set the situation aside and work on something else. Another great way to clear your head is to occupy yourself with something else temporarily. You’ll get the satisfaction of completing a task and it gives you time to think a bit outside the box. Meditate and/or Pray. Find a moment to be still. You could do this during your breathing exercise noted above. Calm your mind. Find a moment to listen to your breathing and close your eyes. Now meditate on all you’ve been given and how grateful you are for what you have. Thank God for the challenges and opportunities your dealing with and trust Him for His guidance and wisdom to get you through knowing he works all things for good. What other suggestions do you have for thinking clearly? Please, take a moment to share your thoughts and experiences by commenting and benefiting others! Interested in learning more about business? Then just visit Waters Business Consulting Group.

Disney is Purposely Pricing People Out of its Parks – Should Your Business Follow the Same Strategy?

October 28, 2022 No Comments

Disney has a strategy to increase its bottom line and squeeze more revenue out of its most iconic assets – price people out of its theme parks. This definitely seems counterintuitive, but it actually makes a lot of sense when explained. On its face, this sounds ridiculous, except it does seem to have a lot of potential and that’s why the executives are making some very bold moves. Why Disney is Purposely Pricing People Out of its Parks Disney has a serious problem with its parks – they are just too popular and that means they’re overcrowded. Anyone who’s been to its theme parks, particularly over the last several years, has most definitely noticed this. The predicament is most pervasive in Orlando, where ride wait times have gone up to as much as 420 minutes or 7 hours. You read that correctly. Just last week, its newest and most anticipated attraction, Rise of the Resistance, recorded a wait time of seven hours. This, despite the fact the experience opened in December 2019, nearly three years ago. Be mindful of competitors. If they are raising prices, it’s easier for you to do so too. Don’t forget to evaluate how your customers will react (fully accept the increase, stop, or lower purchases) as well as the possibility of maintaining price to generate higher volume (stealing customers from rivals). If the competition holds steady on prices, there is less opportunity for a hike. —Harvard Business Review And, it’s not just the latest and greatest rides and attractions either. Some of its oldest staples routinely experience wait times in excess of an hour, even two or more. What’s more, wait times for sit-down restaurants can easily be two or more hours for anyone without reservations. (By the way, those reservations must be made three to six months in advance.) Just these anecdotal figures should tell you something – the parks have way too many people visiting. In fact, exiting Main Street in the Magic Kingdom after the fireworks show can take up to two hours to get from the park exit to the parking lot on busy days (a twenty-minute trek when crowds are super light). Of course, anyone who looks at these figures would think that Disney would be very happy with its premium capacity. But, as executives have explained on various earning calls, their per capita spending in the parks is somewhat paltry – particularly among annual passholders. Annual passholders are a problem for Disney because they present a conundrum. While they pay a premium for their privileges, they spend relatively little money in the parks. Conversely, families and couples traveling from out of state or from international destinations spend quite a bit of money in the parks on top of the pricey admission. In other words, annual passholders come in through the gate, spend a few hours enjoying rides and attractions, and then leave. Meanwhile, couples and families making dedicated trips plunk down a lot of money on things like hotels, souvenirs, snacks and dining, and Genie Plus (a paid skip-the-line service), as well as special experiences. Should Your Small Business Raise its Prices Too? For the foreseeable future, Disney will continue to raise its prices on everything: admission, food, merchandise, and services and experiences. The company plans to earn more money from fewer visitors. This brings up an interesting question – should your small business follow the same strategy? If you haven’t raised prices in quite some time and/or offer discounted rates to be out pricier competition, it’s probably a good idea to consider. Plus, if your business needs substantially more customers than your competitors to turn the same profit, it’s definitely worth exploring. To answer these questions and more, speak with an experienced business consultant who can assess your situation and help you determine a new pricing strategy. You just may be losing out on revenue that could be going to your bottom line. Interested in learning more about business? Then just visit Waters Business Consulting Group.

How New Entrepreneurs Can Use the Lost Art of Bartering and AI to Get Their Fledgling Companies Off the Ground

July 16, 2026 No Comments

We’ve looked at how to win bids without offering the lowest price. But that doesn’t address yet anotherTechnology is key to innovation, but new systems don’t necessarily produce better outcomes than previous improvements. Sometimes, it’s best to go back to tried-and-true methods instead of relying on fancy digital tools. However, it’s just as important to know when to pair past tactics with the latest and greatest applications. The world ran on bartering for hundreds of years, and those same types of exchanges can still be used today. But to get the most out of old-time swapping, it’s best to leverage technology for maximum return on effort. Let’s take a look at how that’s done. AI Revives Barter for Bootstrapped Startups to Swap Smarter Cash is king in the lean startup world, but often scarce. Savvy founders are rediscovering bartering, the ancient art of direct trade, supercharged by AI tools. This combo lets you acquire services, goods, and expertise without draining your wallet, stretching limited resources while building relationships. Why Barter Plus AI Beats Pure Cash Bartering cuts costs dramatically. A new logo, website copy, or even office furniture can be swapped for your skills in marketing, consulting, or product testing. AI removes the guesswork by helping to identify matches, craft compelling offers, and track deals. Founders report saving 30-60% on early expenses this way, preserving runway for product development or customer acquisition. Step 1: Inventory What You Have and Need List your assets honestly. Can you offer graphic design, social media management, beta testing, or industry connections? What do you need? Website development, legal templates, accounting software, or equipment? Use free AI like ChatGPT or Grok to organize this. Prompt it: “Help me list barter assets for a [your industry] startup founder with skills in [your skills] and needs like [your needs].” Refine the output into a clean one-pager you can share. Step 2: Find and Connect with Partners Platforms like Craigslist, Facebook Marketplace, or specialized barter sites (such as Tradeaway or local business groups) are starting points. AI accelerates discovery. Feed LinkedIn or X searches into tools like Perplexity or custom GPTs: “Find small businesses in [your city] needing [your service] who might trade for [what you need].” Join entrepreneur communities on online or local chambers. AI can draft outreach messages: “Write a concise barter proposal offering [your offer] in exchange for [their service], highlighting mutual benefits.” Step 3: Craft Irresistible Offers with AI The key is value parity. AI excels at valuation and persuasion. Prompt: “Value a 10-hour website audit against a professional logo design package.” Use it to generate proposals that sound professional yet friendly. Here’s one example. A SaaS founder trades early access to the product and feedback reports for a developer’s coding hours. AI helps quantify the exchange by estimating time saved or revenue potential. Step 4: Negotiate and Formalize Keep it simple. Use AI to create basic barter agreements outlining scope, timelines, and deliverables. Tools like Claude or Gemini can generate templates: “Draft a fair barter contract for logo design in exchange for three months of content marketing.” Then, record everything. Follow up with value delivery to build trust for future trades. Real-World Wins One Florida education consultant bartered writing services for a website redesign, then used AI to optimize the new site for SEO. Another round of beta testing for accounting setup, accelerating launch by months. Combine with AI image generators for mockups or data tools for proposal analytics, and your trades become more professional. Pro Tips and Cautions Start small to test chemistry. Track tax implications; bartered value is often taxable income (consult a pro). Use AI ethically and disclose when it’s helping; never misrepresent capabilities. Scale gradually. As your network grows, barters can evolve into partnerships or referrals. Bartering with AI isn’t just cost-saving; it’s relationship-building in a digital age. It forces creativity and resourcefulness, core entrepreneurial muscles. Next time you’re eyeing that pricey tool or service, ask yourself, “What can I trade?” Let AI handle the heavy lifting, and watch your startup gain traction without the debt drag. Want to Accomplish More for Your Business? Do you want your company to grow faster and earn more while spending more time with your family, doing everything you started your business to do? We can make that dream a reality. Give us 30 minutes, and we will show you how to get your life back. Skeptical? Good! Put us to the test. You can call us for your free appointment at 480-636-1720, or, if you prefer, <a href = "mailto:info@watersbusinessconsulting.com”>send us an email. You can also visit us at Waters Business Consulting Group to learn more about us and the services we offer. challenge. That challenge being attracting new customers and retaining them. For most entrepreneurs, the assumption is to go after as many people as possible to grow their client count. After all, more is more, and with more customers comes more money. But is this the right philosophy for every small business? Let’s take a few moments to consider what this actually means. How Intentional Scarcity Transforms Your Business into a Premium Brand Small business owners often chase volume like it’s the holy grail. More clients, more revenue, right? Wrong. The smartest operators are doing the opposite. They deliberately limit their services to a select clientele and watch their earnings per customer soar while their brand transforms into a symbol of uncompromising quality. (This is the same strategy Disney World is following in its Orlando theme parks.) The House of Mouse has the numbers, and the company knows that passholders spend relatively little compared to other visitors, particularly families traveling from out of state. So, it’s adjusting its policies to extract as much cash as possible from every tourist. This is not about turning away business out of arrogance. It is about strategic focus. When you spread yourself thin serving anyone who walks through the door, you dilute your expertise, compromise your standards, and train the market to see

Microsoft will Ditch its Own Tech in Favor of Rival Google — Here’s What it Means to Your Business

What it Really Means to Reinvent the Wheel

How Entrepreneurs can Avoid the Reinventing the Wheel Trap

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Related Posts

How to Think Clearly when Times are Crazy

Disney is Purposely Pricing People Out of its Parks – Should Your Business Follow the Same Strategy?

How New Entrepreneurs Can Use the Lost Art of Bartering and AI to Get Their Fledgling Companies Off the Ground

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