Posts Tagged ‘business planning’
How To Be (and not be) Innovative in Business
Your clients like what you offer. And you want to keep it that way. But then, suddenly, your competitor metaphorically drives by in a shiny new vehicle with apps and features you had never considered. And now you also want that metaphorical new car. How not to be innovative So you start developing your product…
Read MoreHow to pick the worst clients
If a strategy is about knowing what not to do, then client profiles are about knowing who not to target. Much of this will happen as a process of exclusion as you build your Customer Profile. But that is not enough. There are certain traits you want to look out for, that make universally bad…
Read MoreWhere do you get your best ideas?
A global pandemic is a rare and unusual form of disruption. Although the whole point is that we never see it coming. Disruption comes from unexpected places, and even hindsight is often short-sighted on learning its lessons. Let’s walk through three lessons from three highly disruptive episodes of recent business generations. Disruption story one: Uber…
Read MoreThe Glue Your Business Needs Every Day
What has to happen in your business? When people think of business functions, they tend to list marketing, sales, finance, human resources, maybe production as well. However you make your list, there is one fundamental business function that ties all the rest together; the glue that makes it work, if you will. Management. Collaborate more…
Read MoreHow are you hiring?
You have a role; now it’s time to fill it. Use the work you did to know why you are hiring and who you are hiring to improve how you are hiring. Hiring skills How important is skill expertise in hiring? It turns out: not very. Skill expertise is not to be ignored, of course,…
Read MoreThe Formula to Balance Your Business
Opportunity & risk. Gains & losses. Promotion & Prevention. These are all ways to describe the balance a business needs to succeed. You can’t avoid risk, and you – hopefully – have plenty of opportunities. Making these two things coexist is important, but one of the hardest things to do. Business potential Back in 2017,…
Read MoreHow to plan to be spontaneous
“The last thing I want for my business is a plan or a process. I need my people to be spontaneous and adaptable”. This is an actual quote from a business owner who is terrified of turning his employees into automatons. His fear is valid: at what point is too much instruction removing any capability…
Read MoreLet’s talk about an entrepreneur’s biggest mistake
What is an entrepreneur’s biggest mistake? I was asked this question just the other day. And as much as I am not a fan of questions that require absolutes, I will still answer a question when it is posed. And the answer to this one is: thinking they know what their customer wants. One coin:…
Read MoreWhen will your next competitor arrive?
The way other companies compete with you isn’t always about you. We have already considered replacement competitors, generic competitors, and budget competitors. What about your direct competitors? And in particular: the new ones that will show up just around the corner? How difficult is it to start your company? Barriers to entry What does the…
Read MoreComparing to the Competition
You have heard me say it before: innovation is about customers, not the competition. If you are looking at your competitors to decide your next move, you are doing it wrong. But that doesn’t mean that there is never a reason to look at your competition. Sometimes you just want to look and compare: so…
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