I can’t think of any company that wouldn’t benefit from competitive intelligence which is actionable and insightful. In fact, you can think of a good competitive analysis as a scouting report of the actual market terrain that your company must navigate in order to be successful.
Increasing the value of a company requires years of planning and execution. Most valuators look at the last five years of operating results to substantiate their conclusions. So, let’s look at maximizing the value of your business today for a potential sale or transfer tomorrow.
Done right, a competitive analysis should give you an understanding of trends in your industry as well as the competitive landscape. It should identify current and potential competitors within your market, assess their strengths and weaknesses, and determine their target market and ability to deliver.
I was recently working with a manufacturer helping him crack the code on profitability for his business. One thing that struck me was the dual marketing strategies he was deploying within his smallish business. It was a challenge for him to deploy both strategies effectively. Here’s why.
Increasing the value of a company requires years of planning and execution. Most valuators look at the last five years of operating results to substantiate their conclusions. So, let’s look at maximizing the value of your business today for a potential sale or transfer tomorrow.
The odds are that there are a lot of other businesses in your market providing similar products or services. So what is compelling about your firm that sets you apart from your competition and entices potential customers to buy from you?
It is a chaotic time for management when their company is in the midst of a turnaround, fretting over revenue, placating investors, managing suppliers, reducing costs while keeping employees motivated. There is an inordinate amount of things that need to get done. How do you know what to prioritize? A disciplined process….
The first step in growing your business is to identify where the most likely opportunity for additional revenue might be. There are several possibilities you can consider, all with varying levels of risk, effort, cost and potential rewards.
Do you……
•Spend time up at night worrying about your competition?
•Have multiple pages devoted to them in your business plan?
•Track their every pricing move and new product offering?
Some unease over the competition is healthy and warranted. However, it is best to keep your concern in perspective.
This recently hit my inbox from colleague John Martinka. I thought it had some good insights on what is really important when valuing a business as well as things to consider as you run your business, and build and nurture your customer base.
I recently attended an ACG webinar on M&A due diligence. My expectations were that we’d spend a lot of time on spreadsheets and legalities. Boy was I wrong!
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