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▶ By using the Gartner Magic Quadrant (I think t ▶ By using the Gartner Magic Quadrant (I think the name overpromises a bit 😅) you can place your competitors on a two dimensional landscape. This helps you create an overview and a basis for your competitive analysis: who are your rivals, what are they doing, where are they going? This is a very helpful tool for strategy making in companies of any size. Try it! 👍
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#businessinfographic #infographic #businesstools #startuptools #businesscompetition #magicquadrant #gartneranalytics #marketanalysis #competitivestrategy #competitor #businessknowledge #businessskills #businessstrategy #managementconsulting #managementframework #managementconsultant #businessconsultant #businessconsulting #businesscoaching #businesscoach
▶ Turns out someone liked my PhD thesis so much ▶ Turns out someone liked my PhD thesis so much they decided to award me a rare dissertation prize for it 🤓 It's not just a great honor, but it also pays my two months' rent 💪 My thesis topic was, surprise surprise, business model innovation 😁
▶ Cheaper or unique? Are you the Tesla of graphi ▶ Cheaper or unique? Are you the Tesla of graphic designers? The IKEA of virtual assistants? Or perhaps the Gucci of social media marketers? Whatever your competitive strategy, you should align all your activities (and prices) accordingly to make sure you and your customers are on the same page.
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This well-known and widely applied strategy framework for entrepreneurs and managers involves Porter's Generic Strategies for competitive market positioning. It's important to create an identity for yourself but it's equally important to show your customers what exactly you offer to them. That's how you create your name, reputation and position on the market. That's how prospects find you.
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#businessinfographic #infographic #businessstrategy #businessknowledge #marketpositioning #competitivestrategy #michaelporter #competitiveadvantage #marketstrategy #businessanalysis #scienceofbusiness #businessdevelopment #businessdesign
▶ Remember MECE? If you don't, check out my post ▶ Remember MECE? If you don't, check out my post from a few months ago (How to analyse business problems?). This is a very (very!) important technique for you if you want to be a good problem-solver and analyzer. It's one of the first things you need to develop as a consultant and it's one of the most useful things that you will ever learn for your life. I promise 🤓
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#mece #problemsolving #problemsolver #managementconsulting #managementconsultant #businessconsulting #businessconsultant #businessanalysis #businessknowledge #businessskills #businesscoaching #businesscoach #businesstools #managementtools
▶ Anyone who deals with two-sided or multi-sided ▶ Anyone who deals with two-sided or multi-sided platforms will face the chicken and egg problem: which users to bring to the platform first, the sellers or buyers? Or both simultaneously, but how? Nobody wants to join a platform if there's no one else and they can't benefit from being on it. This is one type of a catch-22 problem. So, what can the platform owner do? Luckily, there are many solutions to this problem! And those solutions can be used individually or in combinations. Read more about the solutions and examples on my blog at businessmodelscholar.com (link in bio @businessmodelscholar).
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#chickenandeggproblem #chickenoregg #platformbusiness #platformbusinessmodel #multisidedplatforms #businessproblems #businesssolutions #seller #buyer #catch22 #businessknowledge #businessgrowth #newbusiness #startupdevelopment #startuptools #startupeducation

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Categories
Selling

The 3 ways to determine a price

Here’s a story about how I earned a few beers some months ago. I was talking to two friends, both of them entrepreneurs. Lucy offers graphic web design services… More
Categories
Customers

Who will buy your innovative product?

Who do you think will be the first group of people (or firms) buying from your company? What do you think will be their effect on your business? And how do you think you… More
Categories
Product

5 attributes of a product that will make people buy it

You can probably think of a thousand things that affect your decision of whether or not you will buy something, such as your general need, urgency, and money available. A… More
Categories
Business models

What is a penguin problem and what can you do about it?

Why is it that potential customers are hard to make buy from you and sign up for your service? Obviously, there can be many reasons for that. One useful way to analyze th… More
Categories
Business models

The chicken and egg problem in platform business models

Do you have, or are you planning to start a platform-based business? Is it a two-sided platform? That is, does it have sellers and buyers? If yes, then you are probably f… More