A SWOT Analysis is a strategic planning tool to help you position your business within your market and your industry. The components that make up SWOT are: Strengths, Weaknesses, Opportunities and Threats. As a bonus, you can also throw in an additional T (SWOT-T), Trends. Here’s a short description of the SWOT components: Strengths: What are your business’ strengths, […]
Competition
Here’s How NOT to Define Your Competition
We investors see this all the time. An entrepreneur pitches using a deck with no slide for competition. When asked (as we always do) the response is, “This is new. We have no competition.” Niet! No! Unh unh. Professional investors laugh when they hear an entrepreneur come out with that one. That statement has killed more […]
Start a Product-Innovation Revolution in 6 Steps—Whether You’re David or Goliath
In his book David and Goliath: Underdogs, Misfits, and the Art of Battling Giants, Malcolm Gladwell upends the idea that it was surprising for David, the underdog, to vanquish Goliath, the almighty giant. Underdogs, Gladwell suggests, have certain inherent advantages. In business, companies might find themselves in either the David or Goliath position, and it’s important to […]
How to Market Research Like a Pro
Researching your particular market for the latest insights into what consumers want is a vital aspect of any contemporary business’s success, but many of today’s professionals are struggling to really tackle market research like a pro. While we’re often told that third-party outsourcing is the simplest and most effective way to research our markets, for […]
5 Tips for Small Businesses to Thrive in Big Business-Dominated Industries
It is easy for small businesses to get intimidated in a competitive market place dominated by big brands. Even though many startups enter the market with much enthusiasm and motivation, they sometimes succumb to the pressures of trying to stay in business and keeping up with other numerous brands that provide similar value but have […]
How to Spy on Your Competitors with Google My Business
In an effort to encourage more businesses to use the posts feature of Google My Business, Google has introduced a “Businesses like yours are posting!” section in the GMB dashboard. Updated regularly it gives a carousel of latest posts from nearby businesses in the same or similar industry. It tells you the name of the […]
5 Tips to Disrupt Your Customer Service and Beat the Competition
We’re currently in the middle of a transformation, where digital technologies are disrupting the way we conduct our business. Customers are still at the center of every organization, however, and when customers change, your organization should change to adapt to their needs. You’re probably wondering how you can adapt your business to this disruption and […]
7 Ways Small Businesses Can Compete with Big Brands
In a world saturated by big brands, do not underestimate the potential success of your small business. Smaller companies are often able to tick many boxes prescribed by customers with an opportunity to promote a more personal, assured and characterful service. Do not be afraid to compete! Today, we have teamed up with the London […]
How to Compete with Amazon: Win with Guided Selling
Amazon’s dominance is growing. They’re projected to be the first $1 trillion dollar company within the next 12 months. Amazon has the power to shatter company stocks with just a press release, and 64% of American households have an Amazon Prime membership while 56% of all product searches begin on Amazon. As consumers, we love shopping from them. Free two-day […]
Why Healthy Competition Among Employees Works
One of my favorite childhood memories is the centuries-old national tradition of color war at camp. I loved the intensity of this week of games, contests and events, as well as the life lessons it imparted. We celebrated when we won and cried when we lost, but we learned to compete and respect each other simultaneously. We are […]
