Friday, May 8, 2015


Lesson 1: Research the competition
·                     Pay a visit to them
·                    Get a feel of the competitor
·                    Know your competitors to better able effectively compete with them.

Lesson 2: Know your customer’s values
·                     Recognize other concerns besides prices
·                    Don’t be caught in the mentality that customers will buy from you only if you have the lowest cost.
·                    Think/make your product as a bundle of attributes having a unique value.

Lesson 3: Identify opportunities
·                    Look into developing new products/services or improving existing ones.

Lesson 4: Develop a positioning based on opportunity
·                     Provide different benefits.

Lesson 5: Create a Catchy tag line.
·                    Help in building brand equity, communicating benefit and feature.

Lesson 6: Spread the word
·                     Business name card
·                     Print and distribute flyers.
·                    Methods:
-       Word of mouth
-       Advertising (online and offline)
-       Philanthropy (donate money, services and/or time to non-profit organizations, or conduct own event).
Lesson 7: Be ethical and above-board
·                    Concentrate on improving rather than dodging regulations

Lesson 7A: Subterfuge is a poor long term strategy

Lesson 8: Implement until you are blue in the face
·                    Keep trying until you got it right
·                    Don’t give up
·                    Strive to continually improve.

Shared From Article By:
Allen Turnbull
Accountants Today
September 2006

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