John Reid (not his real name) has 6 products in his product line.
3 sell well.
The other 3 basically suck.
So where should he spend his time? On the products that sell well ... or on the products that don't?
John decided to spend his time trying to improve sales for his 3 floundering products.
He put his best sales people on the job.
He focused his advertising budget on getting more leads for the 3 failing products.
He used up 40% of his time in meetings with his team discussing ways to sell more of his failing products.
Sales didn't improve. In fact, sales for his best selling products dropped off.
And John couldn't work out why he wasn't doing well. "Must be the Global financial crisis" he thought.
Then along comes the crazy city girl, Stacey Richards (not her real name either) who -- on the other hand -- was quick to "cut the deadwood" from her inventory.
When she found a product that didn't sell well she quickly cut it free. Then focused her time and company resources exclusively on the products that did sell well.
With more attention and focus on the best sellers sales increased steadily.
Everyone was happy.
The company moved forward at blinding speeds.
What's the moral of the story?
Should be obvious.
Cut the dead products or services from your inventory and focus your time, energy and company resources on dominating the market with the products that sell well.
Life's too short to mess around with products or services that drain your time and energy.
Focus on the products or services that help move your company forward.