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Hub You - Competitive Edge
Before you hit the back button thinking bartering went out of fashion when money came along. Think again. Bartering has not only thrived all this while, it has made a come back in the business world in a big way. If the International Reciprocal Trade Association is any indication, bartering today is a whopping six-billion-dollar business-to-business success story worldwide. And it is expected to grow by
Marketing professionals often call a business’ competitive edge their "unique selling proposition," or US
"To give real service you must add something which cannot be bought or measured with money, and that is sincerity and integrity." - Douglas AdamsThe sincerity and integrity mentioned in the above quote often leads to trust. Trust turns a prospect into a customer. For home-based businesses the customer is the lifeblood of the economic fuel that runs your business.You can have the hull of a busines
Friction manifests itself by causing barriers to entry for new competitors, limiting the number of outlets from which the consumer has to choose. Large companies, with multiple sales outlets, and economies of scale, have greater power to direct the marketplace.
The degree of friction in the developed world has been decreasing for some years now. Affordable air travel, overnight delivery, improved telephone and fax communications have shortened distances. Credit cards and toll-free numbers have spawned at-home shopping from sources across the country.
The Web has taken the friction in our economy down another notch. In principle, we can sell products and services to a worldwide audience as easily and effectively as our largest multi-national competitor.
In the friction-less economy, the challenge of differentiating ourselves from the competition becomes even greater. Successful small businesses tend to be those who can find some competitive edge, even when their product or service is similar to those around them.
Marketing professionals often call a business’ competitive edge their "unique selling proposition," or USP
There are four critical areas causing business plans to change. All are changing trends in the business environment. The four areas we will examine are: 1) government trends, 2) economic trends. 3) technological trends and 4) cultural trends. Each one causes a specific impact on our decisions and requires us to make adjustments. Some changes are dramatic and require dramatic reactions to minimize their ef
Friction manifests itself by causing barriers to entry for new competitors, limiting the number of outlets from which the consumer has to choose. Large companies, with multiple sales outlets, and economies of scale, have greater power to direct the marketplace.
The degree of friction in the developed world has been decreasing for some years now. Affordable air travel, overnight delivery, improved telephone and fax communications have shortened distances. Credit cards and toll-free numbers have spawned at-home shopping from sources across the country.
The Web has taken the friction in our economy down another notch. In principle, we can sell products and services to a worldwide audience as easily and effectively as our largest multi-national competitor.
In the friction-less economy, the challenge of differentiating ourselves from the competition becomes even greater. Successful small businesses tend to be those who can find some competitive edge, even when their product or service is similar to those around them.
Marketing professionals often call a business’ competitive edge their "unique selling proposition," or US
All entrepreneurs learned a lot along the way and sometimes they are running so fast they do not have time to explain to everyone how they did it. But once they retire perhaps they should become business writers and help other people and up-and-coming entrepreneurs learn from some of their hard knocks.Currently, I am retired but still over see much of my companies operations. I turned forty and decided
The degree of friction in the developed world has been decreasing for some years now. Affordable air travel, overnight delivery, improved telephone and fax communications have shortened distances. Credit cards and toll-free numbers have spawned at-home shopping from sources across the country.
The Web has taken the friction in our economy down another notch. In principle, we can sell products and services to a worldwide audience as easily and effectively as our largest multi-national competitor.
In the friction-less economy, the challenge of differentiating ourselves from the competition becomes even greater. Successful small businesses tend to be those who can find some competitive edge, even when their product or service is similar to those around them.
Marketing professionals often call a business’ competitive edge their "unique selling proposition," or US
Everyone looks for a career that will be exciting and fulfilling. One that will help them move up and open doors for new opportunities. There are many fields that you can become involved in, but two that can be both exciting and rewarding would be a career in Accounting or becoming a Consultant.Have you ever considered a business career in accounting? If so you are looking at a very exciting field. The
The Web has taken the friction in our economy down another notch. In principle, we can sell products and services to a worldwide audience as easily and effectively as our largest multi-national competitor.
In the friction-less economy, the challenge of differentiating ourselves from the competition becomes even greater. Successful small businesses tend to be those who can find some competitive edge, even when their product or service is similar to those around them.
Marketing professionals often call a business’ competitive edge their "unique selling proposition," or US
Challenge for working professionals todayIf you are reading this, I expect you are a working professional.The world has changed and so is the professional field.Today, maybe you are also a doctor, accountant, lawyer or whatever title you may hold. That does not matter. My cousin is a doctor and now worries he may be cut off because the government is downsizing.Is professional destin
Marketing professionals often call a business’ competitive edge their "unique selling proposition," or USP. Pinpointing and refining one's USP, however, is not a simple matter. An approach is unique only in the context of our competitors' marketing messages.
Some marketing messages go beyond product and service characteristics. For example, Charles Revson, founder of Revlon, insisted that he sold hope, not makeup. Similarly, United Airlines sells "friendly skies," and Wal-Mart sells "always" the low price. Do these slogans convey how each company views their customers? Does their selling proposition appeal to your preferences?
Sharpen your USP:
• Put yourself in your customer's shoes; satisfy their needs, not yours.
• Know what motivates behavior and buying decisions.
• Find the real reasons people would buy your product instead of a competitor's. Ask them!
• "Shop" the competition, be open-minded about your product, and never stop looking for ways to make your product stand out.
Try now to recast your business idea in terms of its competitive advantage. Prepare an industry analysis (size, customers, trends, and competitiveness). Identify what you see as your specific market, and estimate the share you think you can capture.
The Web can be a powerful research assistant. Virtually every major business puts product and service information on the
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