3 Tests To Determine Core Competence

Businesses must have something that customers value and is uniquely theirs. Businesses with nothing unique to distinguish them from their competition are doomed to competing on price and as others enter the market and attempt to do the same thing, profit margins become thinner and thinner. If you offer something unique, potential customers can separate […]

Business Model Assessment

Every business model has a product and/or service that focus on a customer. Provided below are questions you can ask yourself to assess your business model. Is your model scalable? How scalable? Is it easy it is to expand the model without equally increasing its cost base? With only a handful of engineers Facebook created […]

The Cost of Bad Decisions

Opportunity costs are the cost (financial, time, resource, other) of forgone opportunities.  They are the things you can’t do, or what you’ve given up, when deciding between two or more options. Understanding the opportunity costs of decisions are particularly important when resources are scarce it ensures that scarce resources are used efficiently and in the […]

Start Outlining Your Proposal Without An RFP

Even without an RFI you can outline your proposal and begin the proposal process. In fact, the earlier you start the better off you’ll be when the RFP is released. While your less aggressive competitors are struggling to understand the requirements you’re correcting any discrepancies that may exist between what you anticipated being required and […]

Extend Your Reach Through Joint Ventures

A joint venture is a strategic alliance where two or more parties, usually businesses, form a partnership to share markets, intellectual property, assets, knowledge, and, of course, profits. A joint venture differs from a merger in the sense that there is no transfer of ownership in the deal. Joint ventures can: Help expand into key […]

Strategy and Execution – The Rock and the Hard Place

The life of the business depends on your ability to formulate and execute good strategy. The ability to do  this demands you not only have good strategy and good execution but you must also defeat or counter the  strategy and execution abilities of your competitors. If this wasn’t enough you must do it in a […]

Business Plans – Should You Use a Hired Gun?

The thought of preparing a business plan tends to fill most business owners with dread; it can be a difficult, stressful, and time consuming process.  It is a document that can make or break your future, it deserves the investment of your blood, sweet and tears. This is not to say that you have to […]

Why Too Many Merger and Acquisition Efforts Fail

Those who advocate mergers will argue that they’ll cut costs or boost revenues beyond that needed to justify a price premium. It makes since doesn’t it: reduce redundant systems, take advantage of economies of scale, put a larger sales force on the streets and eliminate redundant or over-abundant job functions. The resulting whole has to […]