Four ways to gain competitive advantage We are often asked how organizations can better differentiate themselves in highly competitive industries. They understand that not being able to stand out minimizes their ability to secure new business without lowering prices. Those organizations that do a better job at differentiating – and communicating their differentiators – cave…
Before the pandemic, many businesses struggled to attract new employees. They struggled with the answer to this question: why should someone work for your organization? With so much competition for good talent, businesses must have a compelling response. After pandemic layoffs we have now come full circle, and organizations are once again struggling to find…
We are often asked how organizations can better differentiate themselves in highly competitive industries. Organizations understand that not being able to stand out minimizes their ability to secure new business without lowering prices. The organizations that do a better job at differentiating – and communicating their differentiators – cave in less often. Here are a…
The sales team in an organization is the lifeblood of any business. They not only ensure the sales of the entire company are ongoing and profitable but also focus on customer retention, repairing and upholding the company’s reputation, and selling the brand of the company. This article discusses eight specific strategic factorsfor a sales team…
Within the last year, many industries experienced drastic pricing pressures in response to rapidly shifting buying patterns that left many markets with excess capacity (think of airline seats and hotel rooms during the pandemic when travel evaporated). If you happened to travel and needed a hotel room during that time, you likely experienced some of…
What is a price war? A price war is when one supplier (usually) believes they can secure more market share by lowering their price. “If we cut our prices, we can drive up our sales volume,” these companies’ leaders say. The war happens when competitors lower their prices in an effort not to cede market…
Some businesses have more measurements, controls, and processes than NASA. Others have virtually none. In my 30 years’ experience working very closely with hundreds of companies of all sizes, I have seen only a handful with metrics that are aligned with the highest buying criteria of their customers and prospects. Strategic differentiation depends on having…
What is a Value Proposition? If you surf the web and plug in your favorite companies and look at their value propositions (if they can even articulate one), you will find all kinds of buzz words and equations that sometimes ring true and sometimes do not. Many are aspirational. Companies talk a lot about what…
There is a long running discussion regarding sustainable competitive advantage. In particular, is a sustainable competitive advantage in today’s world of mass communication, electronics and AI even possible? Decades ago we were taught that you must have a sustainable competitive advantage to succeed. Books like In Search of Excellence, Good to Great and Built to…
Many businesses were able to “make a lot of hay while the sun was shining” so to speak during Covid.; the obvious pandemic benefactors being manufacturers of paper goods, chemicals for hand sanitizers, and retailers that benefited from a radical shift in consumer buying patterns. The other winners were the astute businesses that had the…
