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Can you defend your pricing niche against your competition?

Berkonomics

There can be nothing more important in your business planning that selecting the proper pricing niche, making your story clear using that niche, and the defending your position against the competition. They are: Price. Companies that compete on price rarely compete against others who emphasize service or quality.

Pricing 226
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Ouch! If I had only learned this before losing millions!

Berkonomics

Know your market and competition, or don’t spend a dime on anything else. The phone could be used for receiving incoming calls when in the restaurant, on the golf course or anywhere. In this case, the competition was not from a company but from a new technology. There is no competition.”

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Boy! If I had only learned this before spending a million!

Berkonomics

Know your market and competition, or don’t spend a dime on anything else. The phone could be used for receiving incoming calls when in the restaurant, on the golf course or anywhere. In this case, the competition was not from a company but a new technology. There is no competition.” Back to 1996.

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How to Talk About Valuation When a VC Asks

Both Sides of the Table

VC firms see thousands of deals and have a refined sense of how the market is valuing deals because they get price signals across all of these deals. As an entrepreneur it can feel as intimidating as going to buy a car where the dealer knows the price of every make & model of a car and you’re guessing at how much to pay.

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How will you ride the next wave?

Berkonomics

We take courses on-line. The mobile Internet – The latest major computing cycle [Email readers, continue here…] Over the last fifty years, the world transitioned from mainframe computing to mini-computers to PCs to the desktop Internet. And 39% compare prices across alternatives. We are learning to use new tools.

Mobile 156
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Recognize your five critical business risks.

Berkonomics

Of course, there are external risks that cannot be controlled or predicted but can be planned for as well – natural disasters, sudden political or economic events that rattle the entire economy, and more. Fourth is competitive risk. These include having a current knowledge of competitors’ hiring practices, pricing strategy, and more.

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“What’s in it for me?” A motivational lesson

Berkonomics

Email readers, continue here…] Suppliers need you to be a good customer, to pay a reasonable price for goods or services, to pay your bills on time, and of course to reorder when the time comes. Good suppliers want to create solutions to your needs and distance themselves from their competition.

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