Jul 4, 2023
Jason A. Duprat, MBA, CRNA, Healthcare Practitioner, and Host of
the Healthcare Boss
Academy podcast, talks about the Product Life Cycle and what
it means for your business. In this episode, we'll learn how Cash
Generation ties in with Cash Usage as Jason elaborates on the
Growth Share Matrix and its four quadrants. Tune into this episode
to learn more about leveraging your business income!
- Jason uses the BCG matrix, a diagram that helps to put things
into perspective what big companies go through when they have
multiple products and divisions and they're trying to work towards
the following product or service line. The BCG Matrix is also
referred to as the Growth Share Matrix. This applies to you if you
have a business, big or small, whatever industry.
- If you want to keep growing, you must leverage your Cash Cow's
revenue to start a new product or service line.
- The problem with cash cows is that the product can die down.
The delivery can get stale, and new competition can come in.”
- You can't just sit on one Cash Cow and expect it to last
forever. What most businesses do is they'll invest the money earned
from that Cash Cow.
- Throughout the episode, Jason discusses different services
they're working on as an example of how to leverage the BCG
- While this isn't a hard rule, Jason suggests not putting all
your time and investment into “Dogs” because that's not where the
business growth opportunities are.
- Solving your existing customers' problems is much better for
ROI and increases your Customer Lifetime Value (CLV).
"The Cash Cow is what your business leverages to produce the
income necessary to develop, add, create, or build additional
products or services." – Jason A. Duprat
"Start with just one or two products or services. If you get
really good at those, at some point, you're going to develop a Cash
Cow." – Jason A. Duprat
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