Articles by this Author
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Attracting Capital: Are you ready?
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The statistics are disturbing. A typical venture capital (VC) firm receives around 1,000 business plans a year, and quickly rejects 90 percent without a detailed review.
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Attention entrepreneurs! How quickly could your market change?
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It is a truism among seasoned entrepreneurs that the business you plan to launch is never the business you will be running in three years time. Despite the countless hours you invest understanding the market, your product and the opportunity, and analysing how the competitive landscape might change once you enter the affray, there will always be issues that blindside you – and could potentially scuttle your business.
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Securing competitive advantage
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Before spending a single dollar launching your new venture, you should have a clear view of how it is going to compete in the market and, importantly, how it will achieve competitive advantage. Your business strategy should take into account not only the actions and reactions of direct competitors, but also the position of suppliers and customers, availability of alternative products that satisfy the same basic need, and the prospect that new competitors will enter the market.
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Customer feedback loops
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Being the first to react to changing customer needs and preferences is often the difference between business success and failure. Yet very few companies invest the time and resources necessary to implement an effective 'customer feedback loop'; that is, a formal and actively monitored process for identifying, capturing, analysing, disseminating and responding to customer feedback.
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