Ultimately, success in business depends on finding your competitive advantage, which is to say that which makes you superior to your competitors and is perceived as valuable by your customers. One approach for figuring that out is through value chain analysis, as developed by Michael Porter. The value chain is a sequence of activities that …
Starting a Business/
Business Planning
Resources for Starting a Business
Legal Structures of Organizations Legal Forms and Traditional Structures of Organizations Market Research — Inbound Marketing Planning Your Research Market Research Find and Feed the Feeling Strategizing Understanding Strategy and Strategic Thinking Competitor Analysis Porter’s Five Competitive Forces (Part I) Porter’s Five Competitive Forces (Part 2) Competitive Intelligence Product Planning Product Management E-Commerce Sales and …
Business owners often find it a challenge to lift their heads and view the long term. The day-to-day can be all-consuming. Regular quarterly board meetings can encourage a long term view. In addition, it is extremely powerful to entertain different perspectives. This results in a stronger strategy for growth. Quarterly board meetings provide an opportunity …
All companies in an industry can use the same technologies, build the same buildings — so really the differentiating factor in business is the people in a company. Hiring, training and motivating employees is key to making your company distinctively superior. 1. Hiring. Be patient and hire the employees that are the best fit for …
My previous blog identified the five competitive forces developed by Harvard professor Michael Porter, which should be addressed in every business plan. This blog profiles each of these forces.
Push or Pull? The old question. What are you doing? Think about pushing. We have all had a pushy sales rep. We don’t want the product, at least yet. We don’t want to talk to them. They are all sell, sell, sell. Hard sell too. Just get off my case!! Turn your mind to pulling. …
One huge secret behind sales growth is offering a product or service that speaks to the customers – that fulfils an important customer need. Selling may not be the issue. Rather, as a business coach, I often need to point out that the sales issue may be the value proposition for customers. According to an …
Need more business? These tips are designed to help you get more. The tips follow a logical sequence. However, life can have its own flow. So, you may find yourself going back and forth as you apply them – that’s normal. As always, best of luck! 1. Create a compelling message. Offer a product or …
