Can you say that you are an entrepreneur, or are you still at the stage where you are just dreaming of becoming an entrepreneur? As a dreaming entrepreneur, you are quite perceptive, passionate and possibly familiar with business problems in general. But you do lack basic fundamentals in entrepreneurship, as well as capital and other resources necessary for a business to … [Read more...] about Are You an Entrepreneur or Are You Dreaming?
Let's pretend that you want to buy a Ford vehicle, but General Motors wants your business instead. So they may imitate Ford, by copying or augmenting certain features of their vehicles to be comparable. This is called an imitation product. Then there is the company that wants to sell you a road bike as a form of transportation and get rid of automobiles all together. This would … [Read more...] about Protecting Your Business From Substitutes: Strategic Alliances
How often does your customer need to buy your products? Is it something that they need only once, never to buy again? Or are your products something that customers will buy again and again? For many types of products, the fastest way the business can reach its volume targets and increase sales is for the product or service to be needed over and over again. This is how the … [Read more...] about Does Your Product Have Repetitive Value?