Category: Business Growth
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Michael Porter’s five forces and the Entrepreneur Part 1. The competitive element
As an entrepreneur you instinctively understand that you are going to face competition from the day you start business. As part of your planning, you have identified your competitors, you understand their product offerings, you know their price points. You have compared your product to theirs and have assessed the comparative merits of each. Back…
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Three Strategic Options to Deal with Inflation. Which one is right for your startup?
Inflation is particularly difficult for startups. Typically there are three traditional options to tackle inflation, none of which is an attractive choice. You need another approach. A couple of weeks ago I talked about the move from abundance to scarcity we are seeing in many sectors of the economy. To listen click here. With scarcity…
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Can you start a business with no money? Of course! The noble art of bootstrapping. Part 2
In the episode 13 we looked at why entrepreneurs chose to start their business without external investments. Some of these reasons such as not wanting to share the profits with others, and willing to spend time chasing investors are solid reasons of going the bootstrap approach. Others such as not wanting to prepare a business…
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Managing Change Part 2
What goes unmeasured goes unmanaged Today I am recommending David Michels’s article from Bain & Company, titled “Measuring Your Organizations Ability to Change” If the Covid Pandemic has taught us anything, it has taught us that the ability to drive change is critical. Mr. Michels states that companies that are good at managing change grow…
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Managing Change – Part 1
Change is constant – Managing it is a Skill Today I am going to review the first three articles from Bain & Company, two of which were originally published by Forbes.com. I have linked these articles because they provide an effective path to implementing change in your organization. In Creating Change on the Front Line the…