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Hub You - The Best Defensive Strategy is the Courage to Attack Yourself
number six in a series taken from:How to Evaluate and Profit from a Business Opportunity - The Entrepreneur's GuideIt's important that you understand how the business makes money. You must take that business down to its essence. For example banks make money by loaning it out at higher rates than it pays to get the money. What it pays to investors as interest, to
“Better than one Super Blue Blade,” said the company’s customer who promptly bought the new product instead of the old. (It’s better to take business away from yourself than
Every month I receive messages from students and readers that begin, ‘I got such terrible service from…’ and often close, ‘…and I’ll never go back there again!’I find these stories upsetting, occasionally entertaining, but rarely are they motivating or instructive.Here’s why:Anyone with enough intelligence and emotion to muster a written complaint also has
IBM is a master of the game. Every so often, IBM introduces a new line of mainframe computers with significant price/performance advantages over existing products.
Competition continually struggles trying to catch up. A moving target is harder to hit than a stationary one.
Gillette is another example. Gillette owned the wet-shaving market with a product called the Blue Blade and subsequently the Super Blue Blade.
The company was stunned when rival Wilkinson Sword beat it to the market in the early sixties with the stainless blade. Then in 1970 Wilkinson Sword followed with the bonded blade, a metal blade fused to plastic at the “optimum shaving angle.” At that point Gillette got its act together and started to play a brilliant game of defensive warfare.
Shortly thereafter Gillette counterattacked with Trac II, the world’s first double-bladed razor. The success of Trac II set the pattern for future Gillette strategy. “Two blades are better than one,” said Gillette’s advertising.
“Better than one Super Blue Blade,” said the company’s customer who promptly bought the new product instead of the old. (It’s better to take business away from yourself than
1. Do What You Love.Have you ever noticed we usually love to do the things we're best at? So what's your strength? Discover your passion and excel at what you do.2. Create Work/Life Balance.It really can be done with a little planning and prioritizing. Professional, Personal, Physical, Financial and Spiritual needs should be considered when palnning a life
Competition continually struggles trying to catch up. A moving target is harder to hit than a stationary one.
Gillette is another example. Gillette owned the wet-shaving market with a product called the Blue Blade and subsequently the Super Blue Blade.
The company was stunned when rival Wilkinson Sword beat it to the market in the early sixties with the stainless blade. Then in 1970 Wilkinson Sword followed with the bonded blade, a metal blade fused to plastic at the “optimum shaving angle.” At that point Gillette got its act together and started to play a brilliant game of defensive warfare.
Shortly thereafter Gillette counterattacked with Trac II, the world’s first double-bladed razor. The success of Trac II set the pattern for future Gillette strategy. “Two blades are better than one,” said Gillette’s advertising.
“Better than one Super Blue Blade,” said the company’s customer who promptly bought the new product instead of the old. (It’s better to take business away from yourself than
Restaurant Marketing experts contend that there are four ways in which hospitality businesses can improve their financial performance. None of these ways are mutually exclusive, so you can try any combination of these four variables at any given time and in any order of importance:Increasing sales volume (getting more customers to your venue) Increasing price (put
The company was stunned when rival Wilkinson Sword beat it to the market in the early sixties with the stainless blade. Then in 1970 Wilkinson Sword followed with the bonded blade, a metal blade fused to plastic at the “optimum shaving angle.” At that point Gillette got its act together and started to play a brilliant game of defensive warfare.
Shortly thereafter Gillette counterattacked with Trac II, the world’s first double-bladed razor. The success of Trac II set the pattern for future Gillette strategy. “Two blades are better than one,” said Gillette’s advertising.
“Better than one Super Blue Blade,” said the company’s customer who promptly bought the new product instead of the old. (It’s better to take business away from yourself than
The who, what, where, when, why, and howKnowing your competition allows you to identify a niche and develop your own unique selling proposition (USP). Clearly defining and understanding the core value you offer your clients can depend on your having a firm grasp of your competitors' strengths and weaknesses.Where do you start?1) Make a list of your competi
Shortly thereafter Gillette counterattacked with Trac II, the world’s first double-bladed razor. The success of Trac II set the pattern for future Gillette strategy. “Two blades are better than one,” said Gillette’s advertising.
“Better than one Super Blue Blade,” said the company’s customer who promptly bought the new product instead of the old. (It’s better to take business away from yourself than
Free government grants are funded in one of two ways: (a) the money comes from the taxes we pay and (b) from private foundations that must give five percent of their assets to stay tax-exempt.Gurus, companies, and others out to make a quick dollar will try to reel you in and get you to buy their information on free grants. This information is already free and readily av
“Better than one Super Blue Blade,” said the company’s customer who promptly bought the new product instead of the old. (It’s better to take business away from yourself than have someone else do it for you.)
Six years later, the company introduced Atra, the first adjustable double-bladed razor. Again, by implication the new product was better than the Trac II, the nonadjustable two-bladed razor.
Nor did Gillette hesitate to introduce Good News, an inexpensive disposable razor (with two blades, no less). This was an obvious attack against Bic, who was preparing to introduce its own disposable razor.
Good News was not good news for Gillette stockholders. The disposable cost more to make and sold for less than Gillette’s refillable cost more to make and sold for less than an Atra or Trac II was costing Gillette money.
But Good News was good marketing strategy. It blocked Bic from running away with the disposable portion of the market. Furthermore, Bic paid dearly for its modest share. Trade sources say Bic lost $25 million in its first 3 years in the disposable razor business.
Gillette continues its relentless strategy of attacking itself. Recently it introduced Pivot, the first adjustable disposable. This time, its own Good News product is the target.
Gillette has gradually increased its share of the wet-shavi
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