Posts Tagged ‘competition analysis’
The 5 best ways to alienate your clients
Learn from your mistakes, examine your failures, and begin with your blunders. We all know the importance of doing things incorrectly, as a way to learn to do them correctly. Thomas Edison is credited with saying: “I didn’t fail. I just found 2,000 ways not to make a lightbulb”. Let’s embrace the value of finding…
Read MoreWhy you should stop trying to be better
It’s a little bit like trying to be perfect. Trying to be better does not add value. But wait: doesn’t better mean an improvement? Wouldn’t that automatically add value? Yes and no. Better is comparative to a previous version or an outside influence. Value is, remains, will always be, about the client. Better and best…
Read MoreHow 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 MoreAre you making your brand work for you?
What’s in a brand? More specifically: what is a brand? The varied definitions you will find always describe how people know and recognize a company. Whether it is a logo, a slogan, or a design, the visual brand is a symbolic representation of your company. But humans are complex beings, and to every symbol, we…
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…
Read MoreWhich piece of the pie are you?
Your client’s desire to buy from you hopefully knows no bounds. But the thing that does have limits is budget. Your clients can make more money, or move money around, but there is only a finite and specific amount of it available at any one time. It is a set pie. Which piece of that…
Read MoreSome people choose the generic option
Let’s be honest with one another: we all want to be the “premium” offer. When we think of why people buy from us, we are hoping they won’t say “this is the cheap, generic option”. But then, some buyers do want to buy the generic offer. What is the difference between our offer and the…
Read MoreHow will your clients replace you?
Not all competitors are direct competitors. You are not only competing against people whose business cards have the same words as yours does. Your clients could also find a whole new option or direction that eliminates their need to hire you at all. Understand how you can be replaced. Replacement competition There are various ways…
Read MoreHow competitive are your competitors?
Two sentences that will grind your business to a halt: “Anyone is a good client” And “I have no competitors” Let me assure you that taking this approach will slow down your business growth rather than drive it. You should consider it good news to hear that neither statement is true. Welcome competition In my…
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