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Faster is sometimes more valuable than better.   

Berkonomics

Dell is a great example of emphasis upon fast, creating a customized computer in 48 hours or less, bringing in assemblies and components just-in-time to make the assembly line. Dell’s response would be something like “Quality custom computers more quickly than the competition.” Where is your competitive landscape?

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The Berkus Method: Valuing an Early-Stage Investment

Berkonomics

An example would be a drug development company needing various stages of FDA approval, substituted for “prototype” above. million), but certainly also allowing the investor to put much lower values into each test, resulting in valuations well below that amount. There is nothing wrong with changing the five tests to meet individual needs.

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Know your four “P’s” to build business in a new year!    

Berkonomics

For example: Hire a great sales person then fail to support him or her with a good marketing effort or a properly priced quality product, and that person will be set up to fail, and for reasons you might have fixed. [Email readers, continue here…] The second P is for productivity. The fourth P is for process.

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Three magic questions to increase your sales:   

Berkonomics

Product differentiation is absolutely necessary to make a sale when there is visible competition, as there usually is in any sale. Why buy NOW? Your marketing and salespeople must know how to state clearly, with as few words as possible, the reason why your product best responds to the customer’s needs.

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How to Out Amazon, Amazon

Both Sides of the Table

I will use some examples from Parachute and some other portfolio companies to give you examples from our experiences of watching successful brands grow. Curation is obviously also a form of competitive advantage for companies like StitchFix, TrunkClub and DailyLook who offer stylists to help you curate your clothing experiences.

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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. Here are a few examples to help you. What competition would you face? Can you defend your offering against that competition?

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6 Mistakes Often Made Positioning Against Competition

Startup Professionals Musings

Don’t bash the competition. Every investor knows how vulnerable a new startup is to competitors, so investors always ask about your sustainable competitive advantage in the marketplace. That says you are competitive today, have a real barrier to entry, and the potential to remain ahead of the competition for a long time.