Do you know what you are selling?

Nobody goes to a restaurant for scrambled eggs.  It is both easier and faster to make scrambled eggs at home.  People go to a restaurant for everything else: the atmosphere, the service, not having to do the dishes.  Chances are: your profession has a DIY option too.  What makes the difference to buyers between DIY…

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Three ways to measure customer satisfaction

“Our customers love us, we have never had a complaint.” Ahem.  The speaker, here, is drawing a rather unscientific conclusion. Just because clients have never complained, does not necessarily mean that they love the service they are getting.  To be able to say “Our customers love us”, collect some empirical evidence using one of the…

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How to stop thinking (and why)

Let’s start with the homework today: write down five things you know to be true about your business. Make them simple sentences, describing 5 facts that you know thanks to your expertise.  A realtor might write down that unexpected repairs are the biggest regret of over 33% of home buyers. A plumber might say that…

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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…

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Where 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…

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When 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…

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Comparing 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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Some 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…

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Anything worth doing is worth doing badly.

Is it worth doing? Then do it. In any way that you can.  Nike figured this out long ago. Want to get into better shape, want to learn a new sport, want to start a new fitness habit? Just do it. Buy the shoes and do it.  Because if it is worth doing, it is…

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How 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…

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