What if your salespeople tell you your customers don’t see any difference between you and your competitors? Well in our experience, this might be true but it’s unlikely. How can we say that?
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![Focus on Growth_Now! [Part 2]](https://images.squarespace-cdn.com/content/v1/5385613ee4b0883f7108f96f/1521604438735-P19PUZWWDZO07R7PSAHP/Female+bodybuilder+compressed.jpg)
Companies are spending more time on how to compete in competitive markets using value. Four factors give best companies a competitive edge that drives growth:
- Intimately manage your top 10 – 20 key clients.
- Identify and manage your exceptional & strategic suppliers.
- Focus on your unique value proposition for your market – your competitive edge.
- Align throughout the company around the top 3 factors, always— allocating resources, developing talent & managing operating costs— for growth.
In an earlier blog, we explained the first two factors that drive growth. In this blog, we will expand on factors 3 and 4.
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By Stephen Kozicki & Gary Peacock
Over the past three years, the world has changed dramatically, and forever from digital disruption, Brexit and Trump. Your industry and your top clients are feeling the stress as their markets change, fast. These fast changes mean that your business needs to be more agile in response to the market. For companies unprepared for these changes this means lower revenue and lower profits.
Our blogs are usually short and punchy to grab your attention. This blog is a little longer than usual because delivering growth is just too important and too urgent to reduce the ideas down to a page, so we have split it into two parts.
To Grow – Act Now!
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Companies are increasingly finding that their traditional value proposition is falling short. The strength of their brand has less value in the buying process, and competition is intensifying from well-resource established players and emerging niche players. Pressure to reduce prices is now the norm. So, margins are deteriorating and profits are shrinking.
How can you stop this?
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There are a lot of clichés around about success and luck. I often tell negotiators the better your negotiation plan, the better your questions and the better you frame value, the luckier you can be...
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Too many strategic plans become yearly reviews not dynamic plans for how to compete. As Michael Porter teaches, the objective of strategy is to win in the marketplace, delivering superior sustainable performance. His convincing argument requires ...
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How can you engage a customer in a value discussion? Todd Snelgrove from SKF Global is a world leader in value and total cost of ownership (TCO). We asked him what common mistakes companies make and ...
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