Is It Time to Create Your Own Channel?

The easy part is building the actual product or delivering the service. If you are not convinced, just consider this – Imagine a substance that falls from the sky and springs up from the earth for free. Yet, we are willing to pay more for it than we do for gasoline. Yep, I'm talking about water. Aquafina, Dasani, Fiji, and [...]

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Using Microeconomics to Maximize Revenue

As a small business, you have to consider the concept of microeconomics when pricing your product or service to maximize revenue. By definition, microeconomics studies the behavior of individuals and firms in making decisions regarding the allocation of limited resources (i.e., money). Contrast microeconomics with macroeconomics. Macroeconomics considers the the sum of all economic activity such as dealing with the [...]

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What Is the Market Structure

Some industries are highly consolidated and are dominated by a few key players while others have few incumbents and are considered quite fragmented. Your strategy to enter either one of these markets will be quite different based on the market structure. For example, let's consider two travel related apps: one for flights and another for hotels. Of course today most popular [...]

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What Is Your Real Market Potential?

When counseling clients or judging startup completions, one of the biggest swag figures I see is related to the size of the market they expect to hit. These numbers are often extremely large which too often causes startups to overspend pre-launch based on the overly inflated prospect of future sales. In an effort to determine your product or services real market [...]

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How to Improve Sales by Employing the Three T’s

In a previous post, we explored the five salesperson archetypes and learned that the challenger archetype out-performs the other four by a wide margin. The data from Matthew Dixon and Brent Adamson's study, which resulted in their book titled “The Challenger Sale,” suggests that the challenger archetype salesperson is defined by three unique capabilities. They called them the three [...]

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