Remove Companies Remove Competition Remove Pricing Remove Satisfaction
article thumbnail

5 Competitive Drivers Which Limit Your Growth Ability

Startup Professionals Musings

Porter proposed his Five Forces framework for analyzing the competitive environment which I think makes even more sense today. Every existing business, as well as every startup, needs to reassess their product or service in the context of these five forces: Intensity of competitive rivalry. Way back in 1979, Michael E.

article thumbnail

8 Tactics To Make Service Your Competitive Advantage

Startup Professionals Musings

Train them fully, give them authority, make them accountable, and tie their pay to customer satisfaction. It must be understandable, written down, and verifiable, with regular measurements and metrics to make it real, benchmarked against the competition. Know your customers intimately. Make your service deliver process “happy.”

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

6 Keys To Competitive Advantage By Memorable Service

Startup Professionals Musings

In this context, even “satisfied” is only a “meets-minimum,” and does not put you ahead of your competition. With pervasive access to social media, customers no longer differentiate poor product repair and replacement from a poor shopping experience or customer usage satisfaction. This results in more profits and growth for you.

article thumbnail

5 Factors Which Define The Scope Of Your Competition

Startup Professionals Musings

Porter proposed his Five Forces framework for analyzing the competitive environment which I think makes even more sense today. Every existing business, as well as every startup, needs to reassess their product or service in the context of these five forces: Intensity of competitive rivalry. Way back in 1979, Michael E.

article thumbnail

A Stronger Economy Means More Competitive Threats

Startup Professionals Musings

Porter proposed his Five Forces framework for analyzing the competitive environment which I think makes even more sense today. Every existing business, as well as every startup, needs to reassess their product or service in the context of these five forces: Intensity of competitive rivalry. Way back in 1979, Michael E.

article thumbnail

7 Advantages For Being A Socially Responsible Startup

Startup Professionals Musings

But very quickly, it is becoming obvious to startups that the value and satisfaction exceeds the costs. I believe this option will continue to spread to other companies, states and countries. Startups can use social responsibility as a competitive advantage. Socially responsible products typically sell at a premium price.

Startup 149
article thumbnail

Can Your New Venture Pass The Scrutiny Of Investors?

Startup Professionals Musings

If there are financial anomalies, or someone on the team doesn’t know the current strategy, or is unhappy with you or the company, the investment will be jeopardized. Call a company meeting to communicate what is happening, and why. This will cover the technology, the current state of development, and customer satisfaction.