Determining how your ‘BUSINESS’ takes shape against your ‘COMPETITORS’ is a critical key for ensuring its success

And, here is where the “Competitive Benchmarking” comes to play! Unfortunately, it is not such a simple task to conduct it and so, there are lot of chances for your benchmarking to go wrong. Let us consider an example. Supposedly, you are machine manufacturer and, you heard about your competitor company say AMC Ltd., who… Read More »

4 key factors that can impact business profitability

From incorrect pricing to ignoring overhead costs: what is stifling the profitability of your business? Running a business can be a challenging endeavour, especially when it comes down to making profits. And the fact of the matter is that even if you have the best of the products and services to offer and reasonably good… Read More »

Do you know what is common between global biggies Apple, Lego and Starbucks?

Well, all of these battled huge losses before coming out on top! So, what exactly these highly-successful companies did to ensure solid positioning for themselves and consistent growth again? ➢ they didn’t quit ➢ they took risks ➢ they were proactive ➢ they accepted, assessed and re-strategized ➢ they acknowledged change   The point of… Read More »

What comes first: the product or the market?

This is the question most of the entrepreneurs face with when deciding to come out with a new product. To make this easier to understand, let us consider an example. You have come up with this unique and astounding software product development idea, and subsequently after undertaking market research, numerous discussions with your team, listing… Read More »

6 Competitive Benchmarking Pitfalls That You Must Avoid

Implementing meaningful competitive benchmarking involves understanding and avoiding certain pitfalls to gain that differential advantage in the market….. Starting a business of your own is indeed an exciting and a significant accomplishment, but then comes the larger challenge which is maintaining and running it successfully. And undeniably, one of the critical step to success for… Read More »