Founder's Field Notes Podcast :

Why New Product Development Is Actually A Great Investment In 2021

Why New Product Development Is Actually A Great Investment In 2021

Invest in your future and Get Ahead in 2021!

Join Klugonyx CEO Jason Klug in a conversation with Ryan Rees, CPA. about adding profitability to your bottom line.
January 14, 2021

It’s a new year and we know what that means for us alongside many other founders and business owners out there: tax season is upon us. Having a profitable year is one of many accomplishments to be proud of - but what can you do to ensure your success and profits continue to scale?

What about using your profitability to add another product to your product line? While many executives and product owners are hesitant to dive into R&D during a recession, let alone a pandemic, studies have actually shown that investing in innovation during such a time can propel a business and its profits forward and bulldoze through such harsh occasions, leaving founders and CEOs with a greater advantage over their competitors afterward.

“A mid-crisis answer to what’s next on the innovation agenda is crucial for delivering outsized performance. During the first five years after the Great Recession of 2008, CPG leaders that could answer this question outperformed the market by an average of 20 percent.”


Recent studies from McKinsey & Co. have also proved that companies “looking beyond the immediate challenges and into the next normal...emerge stronger.” This is a clear win-win for your business’s profitability and future brand loyalty; by investing in the research and development of your next product prior to year’s end, you’re saving on taxes and creating additional returns on your investments.

To explain the importance of investing in future products (and saving on taxes as a result) in further detail, our founder and CEO, Jason Klug, recently had a conversation with CPA Ryan Rees of Hartle & Rees, LLC answering some questions and detailing the tax implications of R&D for new products. Watch the quick Zoom conversation below:

It's the last quarter of the year and we know what that means for us alongside many other founders and business owners out there: tax season is upon us. Invest in your future and Get Ahead in 2021!

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About Founder’s Field Notes:

Founder's Field Notes is a must-watch for any founder or aspiring entrepreneur. This show is a unique blend of business education and inspiration, aimed at helping founders and future entrepreneurs overcome the struggles of starting and running a business. Jason Klug, Founder and CEO of Klugonyx, chats with fellow experts in the entrepreneurship world to provide in-depth analysis and expert advice on the most pressing issues facing today's business owners. So, if you're looking to take your business to the next level, tune in bi-weekly to Founder's Field Notes!

About Klugonyx:

Klugonyx is a leading full service product development company that specializes in bringing innovative ideas to life. With years of experience in the industry, Klugonyx has a proven track record of helping clients turn their visions into successful products.

At Klugonyx, we provide end-to-end services to support our clients through every step of the product development process. From ideation and engineering to prototyping and manufacturing sourcing, we work closely with our clients to ensure their ideas become a reality!

We work with clients across all industries, and our goal is to be an educational and collaborative asset to them throughout the entire product development journey. Our team in Salt Lake City, UT, brings together a wealth of expertise and experience, while our team of 35+ professionals in China provides boots-on-the-ground support and white-glove service to help manage and source all aspects of manufacturing.

At Klugonyx, we believe that innovation is the key to success, and we are committed to delivering cutting-edge solutions that exceed our clients' expectations. With our comprehensive product development services, we provide a one-stop-shop for all your product development needs. Contact us today to learn more about how we can help you turn your ideas into reality.

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