ten slides in ten minutes - thinking about competition in business
DESCRIPTION
A few brief thoughts about competition in business.TRANSCRIPT
S S Ten Slides in Ten Minutes: Thinking about Competition in Business [Capturing the Hearts and Minds of Prospects & Clients]
Presented by:
Bill Graham APM.APMP
October, 2013
Agenda
• The Sustainable Business Imperative
• A Relevant Business Acquisition Process is Essential
• A Journey Needs to be Developed with/for the Client
• It is a Necessity to Deploy Relevant Cost-Efficient Solutions
• The Red Queen Hypothesis - as Related to Competitors
• Learn from other’s mistakes…
• Client’s Define Value & Build the Barriers to Entry for your Competitors
2
Dominant Exclusive Emerging Pervasive Absent
Symbiotic relationship with clients
Making the competitors irrelevant
Projects Particular Performing Pertinent People Places
The Sustainable Business Imperative
Source: Sales Synthesis
Where you need to be going
3
Symbiotic relationship with clients
A Relevant Business Acquisition Process is Essential
Source: Sales Synthesis
4
Market
Management Relationship
Building Opportunity
Scouting
Industry
Knowledge
Trend
Challenges
Response
Impact
Players
Personal
Challenges
Upliftment
Business
Solution/s
Benefits
Derived
value
Business Acquisition
A Journey Needs to be Developed with/for the Client
Source: Sales Synthesis
5
A Common Strategic
Vision with Clients
Basic Products
Basic Solutions
Value-Added Services
Hosted Solutions
An evolving relationship
Source: Sales Synthesis
6
It is a Necessity to Deploy Relevant Cost-Efficient Solutions
A Common Strategic
Vision with Clients
Basic Products
Basic Solutions
Value-Added Services
The Competitors’
Trajectory of
Irrelevance
Hosted Solutions
Moment of Truth
Competitive
Mountain
Competitive
Molehill
An evolving relationship
The Red Queen Hypothesis - as Related to Competitors
Source: Courtesy of Lewis Carroll & William Hamilton
7
• Taken from the Red Queen's race in Lewis Carroll's Through the Looking-Glass.
• The Red Queen said, "It takes all the running you can do, to keep in the same place."
• In a Business context: o For an evolving organisation [as all should be], continuing development is
needed - just to maintain their relevance to the client’s marketplace.
Learn from other’s mistakes…
8
• Nokia’s value proposition – or lack of it !!!
• Blackberry’s failure to innovate
• Betamax was bulky, complicated, ugly, expensive, publicly ridiculed, horribly marketed, disdained by the media and only capable of limited recording and playback
• Woolworths' collapse was one of the defining events of the credit crisis
• Digital Equipment Corp. (DEC) was the world's second-largest computer company in the late 1980s – now, not even a memory
Source: Various
Irrelevant offerings
Outsmarted
Failure to evolve
Complacency
Poor Management
Decisions
“Leadership”
Client’s Define Value & Build the Barriers to Entry for your Competitors
9
A value proposition describes why your products and services are the best choice for your target customers.
Value Proposition Value Definition Value Derivation
Customer
X
Validate Solution Functionality
Realise the Benefits
Vendor
Understand the Problem & Propose a
Business Solution
Architect the Technical Solution
X
Moment of Truth
With robust Account Management: Clients’ assist in
building the barriers to entry for your Competitors
Closing
10
However, there is, without doubt, one common area from which organisation failure emanates… Leadership…
Business Acquisition Process
A Journey needs to be developed
Deploy Relevant Cost-Efficient
Solutions
Learn from other’s mistakes…
With robust Account Management: Clients’ assist in
building the barriers to entry for your Competitors