Competitive Sales Quotes

Chasing a man is not winning. The only thing you win is the loss of your dignity. Confidence is knowing your value, instead of expecting a man’s love to provide you with value.

Spelling Bees are useless and unnecessary competitions. Before Microsoft Word and Google, Spelling Bees had value, but now they are all superflewus.

Truly, nothing is better than to crush your competition, to drive down their profit margins, to hear the lamentations of their sales representatives.

Get up in the morning on a mission to save prospective clients from the shabby, ill-fitting, overpriced and worthless alternatives that those charlatans - who are your competition - are trying to get away with flogging them.

there are only three ways to increase your business: 1. Increase the number of clients. 2. Increase the average size of the sale per client. 3. Increase the number of times clients return and buy again. Only

Although most introverts seek time alone as an alternative to people and competition, solitude is a power source for the introvert. And for someone wanting to exert control, solitude is indeed threatening. Many sales schemes rely on “today only” impulse purchases because “sleeping on it” will help you realize that you don’t need the product. Cults gain their power by depriving members of any time alone. Clients in my office comment on what a difference it makes to have time to think, and value psychotherapy for its attention to inner processes.

If low price is the only basis of competition with rival products, similarly produced, there ensues a cut-throat competition which can end only by taking all the profit and incentive out of the industry. The logical way out of this dilemma is for the manufacturer to develop some sales appeal other than mere cheapness, to give the product, in the public mind, some other attraction, some idea that will modify the product slightly, some element of originality that will distinguish it from products in the same line. Thus,

Empirical evidence suggests that the relationship between the profitability of larger share and smaller share depends on the industry. Exhibit 7-1 compares the rate of return on equity of the largest firms accounting for at least 30 percent of industry sales (leaders) to the rate of return on equity of the medium-sized firms in the same industry (followers). In this calculation small firms with assets less than $500,000 were excluded. Although some of the industries in the sample are overly broad, it is striking that followers were noticeably more profitable than leaders in 15 of 38 industries. The industries in which the followers’ rates of return were higher appear generally to be those where economies of scale are either not great or absent (clothing, footwear, pottery, meat products, carpets) and/or those that are highly segmented (optical, medical and ophthalmic goods, liquor, periodicals, carpets, and toys and sporting goods). The industries in which leaders’ rates of return are higher seem to be generally those with heavy advertising (soap; perfumes; soft drinks; grain mill products, i.e., cereal; cutlery) and/or research outlays and production economies of scale (radio and television, drugs, photographic equipment). This outcome is as we would expect.

Brainstorm your big idea(s). (2 hrs) Identify your product, customer, competition, and sales/marketing strategy. (2 hrs) Identify your plan for operations, management, capitalization, and finances. (4 hrs) Create a life plan. (4 hrs) Validate your business idea. (8 hrs) Type up your finished business plan. (4 hrs) Execute and follow through on your plan.

Whereas penetration most often means that industry demand will level off, for durable goods, achieving penetration can lead to an abrupt drop in industry demand. After most potential customers have purchased the product, its durability implies that few will buy replacements for a number of years. If industry penetration has been rapid, this situation may translate into several very lean years for industry demand. For example, industry sales of snowmobiles, which underwent very rapid penetration, fell from 425,000 units per year in the peak year (1970-1971) to 125,000 to 200,000 units per year in 1976-1977.6 Recreational vehicles underwent a similar though not quite so dramatic decline. The relation between the growth rate after penetration and growth before penetration will be a function of how fast penetration has been reached and the average time before replacement, and this figure can be calculated.

Your company is its own competition and can deliver itself debilitating blows the competition only dreams of.

Problems are opportunities, and conquered opportunities equal money earned.

1. It is better to risk boldness than triviality. 2. A bad plan is better than no plan. 3. Competitive markets destroy profits. 4. Sales matters just as much as product.

Give me 10 pins and a hardwood lane, and I’ll bowl. Just as long as that bowl is full of spaghetti. I’ll always be a champion, when I’m the only one in the competition.

Salespeople on commission, for example, are seldom sensitive to the costs of the sales they produce.

Since the values of the market were the highest criteria, persons also became valued as commodities which could be bought and sold. A person's worth is then his salable market value, whether it is skill or 'personality' that is up for sale. [...] The market value, then, becomes the individual's valuation of himself, so that self-confidence and 'self-feeling' (ones experience of identity with one's self) are largely reflections of what others think of one, in this case the 'others' being those who represent the market. Thus contemporary economic processes have contributed not only to an alienation of man from man, but likewise to 'self-alienation' - an alienation of the individual from himself. As Fromm very well summarizes the point: Since modern man experiences himself both as the seller and as the commodity to be sold on the market, his self-esteem depends on conditions beyond his control. If he is 'successful,' he is valuable; if he is not, he is worthless. The degree of insecurity which results from this orientation can hardly be overestimated. If one feels that one's own value is not constituted primarily by the human qualities one possesses, but by one's succes on a competitive market with ever-changing conditions, one's self-esteem is bound to be shaky and in constant need of confirmation by others. [Erich Fromm, Man for himself] In such a situation one is driven to strive relentlessly for 'succes'; this is the chief way to validate ones self and to allay anxiety. And any failure in the competitive struggle is a threat to the quasi-esteem for one's self - which, quasi though it be, is all one has in such a situation. This obviously leads to powerful feelings of helplessness and inferiority. [p.169f]

Besides shopping at garage sales, I love hosting garage sales. Every year my mom and I dig through our houses and find a bunch of crap (I mean really terrific stuff) to sell so we can earn some money so we can go back out and buy some more crap (I mean really terrific stuff) that we’ll use for a bit and then turn around and garage-sale in a couple of years. It’s the circle of life suburban style.

War metaphors invade our everyday business language: we use headhunters to build up a sales force that will enable us to take a captive market and make a killing. But really it’s competition, not business, that is like war: allegedly necessary, supposedly valiant, but ultimately destructive.

They suspected that children learned best through undirected free play—and that a child’s psyche was sensitive and fragile. During the 1980s and 1990s, American parents and teachers had been bombarded by claims that children’s self-esteem needed to be protected from competition (and reality) in order for them to succeed. Despite a lack of evidence, the self-esteem movement took hold in the United States in a way that it did not in most of the world. So, it was understandable that PTA parents focused their energies on the nonacademic side of their children’s school. They dutifully sold cupcakes at the bake sales and helped coach the soccer teams. They doled out praise and trophies at a rate unmatched in other countries. They were their kids’ boosters, their number-one fans. These were the parents that Kim’s principal in Oklahoma praised as highly involved. And PTA parents certainly contributed to the school’s culture, budget, and sense of community. However, there was not much evidence that PTA parents helped their children become critical thinkers. In most of the countries where parents took the PISA survey, parents who participated in a PTA had teenagers who performed worse in reading. Korean parenting, by contrast, were coaches. Coach parents cared deeply about their children, too. Yet they spent less time attending school events and more time training their children at home: reading to them, quizzing them on their multiplication tables while they were cooking dinner, and pushing them to try harder. They saw education as one of their jobs.

Their customers’ business environments are more competitive than ever, technological advances are radically altering their industries and markets, and their margin for error is always shrinking. The increased complexity of their environment translates directly to increased complexity in the problems they need to solve.

Competition in the market is what limits how much anyone can charge and still make sales, so what is at issue is not anyone’s disposition, whether greedy or not, but what the circumstances of the market cause to happen. A seller’s feelings—whether “greedy” or not—tell us nothing about what the buyer will be willing to pay.

My dad continually reminded salespeople that their main job was to help the customer win. When you speak the account’s language and frame the sales story around what is most meaningful to the client, you stand out from the competition. Customers see you differently because the words you choose demonstrate a commitment to their success.

It wasn’t until 1959 that the Red Sox finally joined the rest of the major leagues and brought up a black player from the minors to play in Boston. This tardiness on race and its lingering effects put the team at a competitive disadvantage for years and was far more responsible for the extended World Series drought in Boston than the 1919 sale of Babe Ruth to the Yankees—the so-called Curse of the Bambino. As

Porter noted that powerful and sustainable competitive advantage is unlikely to arise from any one capability (e.g., having the best sales force in the industry or the best technology in the industry), but rather from a set of capabilities that both fit with one another (i.e., that don’t conflict with one another) and actually reinforce one another (i.e., that make each other stronger than they would be alone).

Finding a situation that catches the key competitor or competitors with conflicting goals is at the heart of many company success stories. The slow Swiss reaction to the Timex watch provides an example. Timex sold its watches through drugstores, rather than through the traditional jewelry store outlets for watches, and emphasized very low cost, the need for no repair, and the fact that a watch was not a status item but a functional part of the wardrobe. The strong sales of the Timex watch eventually threatened the financial and growth goals of the Swiss, but it also raised an important dilemma for them were they to retaliate against it directly. The Swiss had a big stake in the jewelry store as a channel and a large investment in the Swiss image of the watch as a piece of fine precision jewelry. Aggressive retaliation against Timex would have helped legitimize the Timex concept, threatened the needed cooperation of jewelers in selling Swiss watches, and blurred the Swiss product image. Thus the Swiss retaliation to Timex never really came. There are many other examples of this principle at work. Volkswagen’s and American Motor’s early strategies of producing a stripped-down basic transportation vehicle with few style changes created a similar dilemma for the Big Three auto producers. They had a strategy built on trade-up and frequent model changes. Bic’s recent introduction of the disposable razor has put Gillette in a difficult position: if it reacts it may cut into the sales of another product in its broad line of razors, a dilemma Bic does not face.4 Finally, IBM has been reluctant to jump into minicomputers because the move will jeopardize its sales of larger mainframe computers.

The “German problem” after 1970 became how to keep up with the Germans in terms of efficiency and productivity. One way, as above, was to serially devalue, but that was beginning to hurt. The other way was to tie your currency to the deutsche mark and thereby make your price and inflation rate the same as the Germans, which it turned out would also hurt, but in a different way. The problem with keeping up with the Germans is that German industrial exports have the lowest price elasticities in the world. In plain English, Germany makes really great stuff that everyone wants and will pay more for in comparison to all the alternatives. So when you tie your currency to the deutsche mark, you are making a one-way bet that your industry can be as competitive as the Germans in terms of quality and price. That would be difficult enough if the deutsche mark hadn’t been undervalued for most of the postwar period and both German labor costs and inflation rates were lower than average, but unfortunately for everyone else, they were. That gave the German economy the advantage in producing less-than-great stuff too, thereby undercutting competitors in products lower down, as well as higher up the value-added chain. Add to this contemporary German wages, which have seen real declines over the 2000s, and you have an economy that is extremely hard to keep up with. On the other side of this one-way bet were the financial markets. They looked at less dynamic economies, such as the United Kingdom and Italy, that were tying themselves to the deutsche mark and saw a way to make money. The only way to maintain a currency peg is to either defend it with foreign exchange reserves or deflate your wages and prices to accommodate it. To defend a peg you need lots of foreign currency so that when your currency loses value (as it will if you are trying to keep up with the Germans), you can sell your foreign currency reserves and buy back your own currency to maintain the desired rate. But if the markets can figure out how much foreign currency you have in reserve, they can bet against you, force a devaluation of your currency, and pocket the difference between the peg and the new market value in a short sale. George Soros (and a lot of other hedge funds) famously did this to the European Exchange Rate Mechanism in 1992, blowing the United Kingdom and Italy out of the system. Soros could do this because he knew that there was no way the United Kingdom or Italy could be as competitive as Germany without serious price deflation to increase cost competitiveness, and that there would be only so much deflation and unemployment these countries could take before they either ran out of foreign exchange reserves or lost the next election. Indeed, the European Exchange Rate Mechanism was sometimes referred to as the European “Eternal Recession Mechanism,” such was its deflationary impact. In short, attempts to maintain an anti-inflationary currency peg fail because they are not credible on the following point: you cannot run a gold standard (where the only way to adjust is through internal deflation) in a democracy.

Q:What is the proletariat? A:The proletariat is that class in society which lives entirely from the sale of its labor and does not draw profit from any kind of capital; whose weal and woe, whose life and death, whose sole existence depends on the demand for labor – hence, on the changing state of business, on the vagaries of unbridled competition. The proletariat, or the class of proletarians, is, in a word, the working class of the 19th century

Your competition's sales slide presentation is equally pathetic. Here is the secret solution: Convert the time you're currently wasting watching television re-runs in the evening and develop your own PowerPoint presentation that is 100% in terms of the customer's needs and desires, one that engages the prospective customer by asking questions and promoting dialogue, one that uses a little humor to keep the sales presentation alive, and one that supports every fact and claim with testimonials.

In marketing terms, a commodity is an undifferentiated product that is just like its competitors. It isn’t usually very innovative, and offers a similar set of features and price point compared to competitive products. In other words, its defining characteristic is its “sameness” compared to other similar products. When a product becomes a commodity, the price that it commands in the marketplace tends to erode. People aren’t willing to pay extra for your product. They consider it and those of your competitors to be interchangeable, so no one company has an edge in sales.

Is the competition really some mythical beast? No, not really. Knowing how to play your group of salespeople as a team, to overcome the group objective of winning the customers support, is the objective. The opposing team in proper viewpoint is not just the similar competing business to yours. Nor is it the competing franchises of your home office. No, in order to really be effective in the market place as a surviving business, you must go beyond that philosophy. You must be willing to expand your viewpoint to fully understand who the competition truly is. Your true competition is simply this: Anywhere that your customer would spend his or her dollars as opposed to spending them at your company or place of business.

If you want waiters in tuxedos with white linen cloths over their arms, menus with unpronounceable words all over them, and high-priced wines served in silver ice buckets when you go out for Italian food, our little restaurant is not the place to come. But if you mostly want good, solid, home-cooked pasta with tasty sauces made with real vegetables and spices by a real Italian Mama and will trade white linen for red-and-white checked plastic tablecloths, you'll like our place just fine. If you're okay with a choice of just two wines, red or white, we'll give you as much of it as you want, from our famous bottomless wine bottle — free with your dinner. This restaurant owner took competitive disadvantages and turned them into a good, solid, “fun” selling story.

mark-down, which discounts the selling price to customers and, so long as demand is ‘elastic’, results in increased sales of the product line. However, this is an expensive method of selling products, as it reduces the profit achieved on the products. In fact mark-down is the single largest cost to a fashion retail business after the cost of the products themselves. It is worth remembering at this point that the main – and frequently only – source of income for a fashion retailer is the profit from the sales of its products. Less profit per garment means less income to pay its bills. Furthermore, this tactic is less effective when general trading conditions are poor, as the competition is usually doing the same thing. It is vital then that the fashion retailer knows what its customers want and are expecting. Problems in defining and then keeping up with changing customer needs and expectations are arguably the most important factor in successful selling. Large retail businesses like Marks & Spencer

Know the Competition I had a wonderful experience purchasing a luxury car. I was looking at three different brands. I have owned all three at different times in my life so I knew each fairly well. I had studied the market and knew most of the features of the competing models. However, this particular sales guy knew every detail about every car I was considering and so served me wonderfully in my purchase. He never once used his knowledge to speak poorly of the competition. On the contrary, he told me where each model was better than the car I was considering. Wow. I found myself starting to trust this guy because he was being honest and transparent. He stood firm that his car was the car I should buy because of its particular features and quality, but he brought great information about his competitors to the discussion. It was a really classy way to handle a sales role. A really sad part of my wonderful car purchase was that I was on a competitor’s lot the next day and the sales guy there knew less about the car he was selling than my guy knew about the same car. In

1. Make incremental advances Grand visions inflated the bubble, so they should not be indulged. Anyone who claims to be able to do something great is suspect, and anyone who wants to change the world should be more humble. Small, incremental steps are the only safe path forward. 2. Stay lean and flexible All companies must be “lean,” which is code for “unplanned.” You should not know what your business will do; planning is arrogant and inflexible. Instead you should try things out, “iterate,” and treat entrepreneurship as agnostic experimentation. 3. Improve on the competition Don’t try to create a new market prematurely. The only way to know you have a real business is to start with an already existing customer, so you should build your company by improving on recognizable products already offered by successful competitors. 4. Focus on product, not sales If your product requires advertising or salespeople to sell it, it’s not good enough: technology is primarily about product development, not distribution. Bubble-era advertising was obviously wasteful, so the only sustainable growth is viral growth.

His baseline attitude toward humans was that they could all just go fuck themselves and that he was not going to expend any effort whatsoever getting them to change the way they thought. This was probably rooted in the belief that had been inculcated to him from the get-go: that there was an objective reality, which all people worth talking to could observe and understand, and there was no point in arguing about anything that would be so observed and so understood. As long as you made a point of hanging out exclusively with people who had the wit to see and understand that objective reality, you didn't have to waste a lot of time talking. When a thunderstorm was headed your way across the prairie, you took the washing down from the line and closed the windows. It wasn't necessary to have a meeting about it. The sales force didn't need to get involved... ...It was time, in other words, to call out the sales force, take Jones to lunch, begin gardening personal contacts, shape his perception of the competitive landscape. Forge a partnership. Exactly the kind of work from which Richard had always found some way to excuse himself, even when large amounts of money were at stake. Yet now his life was at stake, and no one was around to help him, and he still wasn't doing it. He simply couldn't get past his conviction that Jones could go fuck himself and that he wasn't going to angle and scheme and maneuver for Jones' sake.

Cultivating loyalty is a tricky business. It requires maintaining a rigorous level of consistency while constantly adding newness and a little surprise—freshening the guest experience without changing its core identity.” Lifetime Network Value Concerns about brand fickleness in the new generation of customers can be troubling partly because the idea of lifetime customer value has been such a cornerstone of business for so long. But while you’re fretting over the occasional straying of a customer due to how easy it is to switch brands today, don’t overlook a more important positive change in today’s landscape: the extent to which social media and Internet reviews have amplified the reach of customers’ word-of-mouth. Never before have customers enjoyed such powerful platforms to share and broadcast their opinions of products and services. This is true today of every generation—even some Silent Generation customers share on Facebook and post reviews on TripAdvisor and Amazon. But millennials, thanks to their lifetime of technology use and their growing buying power, perhaps make the best, most active spokespeople a company can have. Boston Consulting Group, with grand understatement, says that “the vast majority” of millennials report socially sharing and promoting their brand preferences. Millennials are talking about your business when they’re considering making a purchase, awaiting assistance, trying something on, paying for it and when they get home. If, for example, you own a restaurant, the value of a single guest today goes further than the amount of the check. The added value comes from a process that Chef O’Connell calls competitive dining, the phenomenon of guests “comparing and rating dishes, photographing everything they eat, and tweeting and emailing the details of all their dining adventures.” It’s easy to underestimate the commercial power that today’s younger customers have, particularly when the network value of these buyers doesn’t immediately translate into sales. Be careful not to sell their potential short and let that assumption drive you headlong into a self-fulfilling prophecy. Remember that younger customers are experimenting right now as they begin to form preferences they may keep for a lifetime. And whether their proverbial Winstons will taste good to them in the future depends on what they taste like presently.

supposed weakness on national security. Ours was a brief exchange, filled with unspoken irony—the elderly Southerner on his way out, the young black Northerner on his way in, the contrast that the press had noted in our respective convention speeches. Senator Miller was very gracious and wished me luck with my new job. Later, I would happen upon an excerpt from his book, A Deficit of Decency, in which he called my speech at the convention one of the best he’d ever heard, before noting—with what I imagined to be a sly smile—that it may not have been the most effective speech in terms of helping to win an election. In other words: My guy had lost. Zell Miller’s guy had won. That was the hard, cold political reality. Everything else was just sentiment. MY WIFE WILL tell you that by nature I’m not somebody who gets real worked up about things. When I see Ann Coulter or Sean Hannity baying across the television screen, I find it hard to take them seriously; I assume that they must be saying what they do primarily to boost book sales or ratings, although I do wonder who would spend their precious evenings with such sourpusses. When Democrats rush up to me at events and insist that we live in the worst of political times, that a creeping fascism is closing its grip around our throats, I may mention the internment of Japanese Americans under FDR, the Alien and Sedition Acts under John Adams, or a hundred years of lynching under several dozen administrations as having been possibly worse, and suggest we all take a deep breath. When people at dinner parties ask me how I can possibly operate in the current political environment, with all the negative campaigning and personal attacks, I may mention Nelson Mandela, Aleksandr Solzhenitsyn, or some guy in a Chinese or Egyptian prison somewhere. In truth, being called names is not such a bad deal. Still, I am not immune to distress. And like most Americans, I find it hard to shake the feeling these days that our democracy has gone seriously awry. It’s not simply that a gap exists between our professed ideals as a nation and the reality we witness every day. In one form or another, that gap has existed since America’s birth. Wars have been fought, laws passed, systems reformed, unions organized, and protests staged to bring promise and practice into closer alignment. No, what’s troubling is the gap between the magnitude of our challenges and the smallness of our politics—the ease with which we are distracted by the petty and trivial, our chronic avoidance of tough decisions, our seeming inability to build a working consensus to tackle any big problem. We know that global competition—not to mention any genuine commitment to the values

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Dacă în rândul femeilor depresia este cauzată de lipsa de iubire (aceasta este logica), în cazul bărbaților ea se datorează falimentului și pagubelor financiare. Pentru mulți dintre oamenii de afaceri pierderea soției are aceeași însemnătate cu pierderea companiei. În timp ce femeile obișnuiesc să fie competitive una cu alta mai curând pentru ceea ce sunt, majoritatea bărbaților rivalizează pentru ceea ce posedă. Desigur, există și excepții, însă tendința este clară: dacă vrem ca un coleg să se îngălbenească de invidie, nu ne rămâne decât să menționăm, fără a-i acorda totuși prea mare importanță, o ingenioasă investiție în dolari. Invidia îl poate nimici. Nici măcar posedarea vreunui talent special (sportiv, științific, muzical) nu ar fi în stare să producă un asemenea efect: în rândul bărbaților virtuozitatea este admirată și respectată, însă rareori invidiată. Deși ar trebui să suprimăm concurența dintre persoane, dacă aceasta este totuși necesară, atunci ar trebui să preferăm să concurăm prin ceea ce suntem, nu prin ceea ce posedăm. Emanciparea femeii și intrarea acesteia în câmpul muncii au dat naștere unei noi tipologii pe fondul acestei opoziții dintre competitivitate și posesiune: femeia de succes în afaceri. Pentru bărbatul instabil, succesul financiar al perechii sale constituie un adevărat blestem. Unii preferă să fie săraci decât să depindă financiar de parteneră. Alții tind să o eclipseze, să îi pună bețe în roate și/ori să îi disprețuiască meritele, încercând astfel să compenseze cumva lezarea stimei de sine.

Cu toate că testosteronul încă ne mai curge prin vene și că uneori ne face plăcere să ne luăm la pumni cu câte un necunocut care s-a uitat chiorâș la noi, în ființa umană prevalează alte atribute (valori și principii) care domolesc acele tendințe vechi și, în aparență, de nestăvilit. Altruismul, prietenia, respectul, munca în echipă și sacrificiul cu bună știință în favoarea idealurilor, toate acestea se opun agresivității oarbe și haotice. Este adevărat că nu prea ne dăm silința să le cultivăm ori să le punem în practică, însă important este că mijloacele există și că ne sunt la îndemână. Biologia nu ne poate explica decât anumite aspecte ale comportamentului nostru, fără a-l și justifica. Logica umană are nevoie de o bază etică și morală, adică de umanizare. După cum spunea Jung, „să-i permitem războinicului interior să se manifeste întrucât numai așa îl putem depăși”. Dacă lipsa dorinței de a obține glorie poate reduce proporțiile războaielor și dacă respectul favorizează crearea condițiilor indispensabile pentru atenuarea agresivității, atunci ce ne împiedică să ne schimbăm? De ce nu-l putem înfrânge pe mercenarul din noi? Răspunsul este simplu: cultura patriarhalistă preamărește și rpomovează o imagine agresivă și distorsionată a bărbatului: „Dacă nu ți se dă de bună voie, atunci ia-l cu forța.” Educația realizată în societate nu recomandă depășirea stadiului de războinic, ci mai curând îl glorifică și conservă într-o fază primitivă. Indiferent de vârstă, majoritatea activităților cotidiene ale bărbatului gravitează în jurul unor înfruntări fundamental competitive și/sau distructive. Dacă am analiza îndeaproape conținutul anumitor filme, jocuri pe calculator, haine bărbătești, sporturi rezervate bărbaților, jucării și benzi desenate, am observa că în toate aceste cazuri apologia violenței masculine se află pe cele mai înalte culmi ale sale. Iată cum se păstrează în viață acel spirit de prădător care se presupune că sălășluiește înlăuntrul fiecărui băiat. Răpăitul tobelor încă mai răsună.

Black economist William J. Wilson is tired of hearing whites blamed for everything. “[T]alented and educated blacks are experiencing unprecedented job opportunities…” he writes, “opportunities that are at least comparable to those of whites with equivalent qualifications.”78 As George Lewis, a hardworking black man who is vice president and treasurer of Philip Morris, says, “If you can manage money effectively, people don’t care what color you are.”79 Reginald Lewis is a black lawyer and investment banker. In 1987 his company, TLC Group, raised $985 million to acquire BCI Holdings, an international food conglomerate with $2.5 billion in sales. Mr. Lewis, whose net worth is estimated to be $100 million, is not very concerned about race. “I don’t really spend a lot of time thinking about that,” he says. “[T]he TLC Group is in a very competitive business and I really try not to divert too much of my energy to considering the kind of issues [race] … raised.

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This means I can call up a client and say, “The bad news is that your buyer backed out because he decided to join a competitive curling team in Moscow. But! The good news is I got you another offer!” The bad news is instantly replaced by the good news. For people who sell other things, this could mean that a product won’t be ready on time or an order was placed incorrectly. Instead of calling up your customer and dropping the bad news, take time to think about what little surprise you can add to remedy the situation and maintain the relationship. “I’m so sorry that your order won’t be received on time. Please know that I’ve reduced my commission to make this a better deal for you, you get free shipping, and 20 percent off your next order.” Sometimes surprise comes in the simple form of exceeded expectations.

principles are probably more correct: 1. It is better to risk boldness than triviality. 2. A bad plan is better than no plan. 3. Competitive markets destroy profits. 4. Sales matters just as much as product.

Imagine a Sapiens group - a tribe of five hundred, say, in bands of twenty-five or so--living around 55,000 years ago in the lowlands near the headwaters of the White Nile in what is today southern Sudan. They are the inheritors of the modern culture that has spread from southern Africa, and they survive with the skillful hunting and fishing techniques developed over the millennia, the close-knit organizations that establish and maintain group harmony, the communications capabilities of at least a rudimentary language, and a healthy diet based on both plants and animals in abundance. But there are other inheritor bands around, for the region is fertile and the climate generally benign, and they continue to grow in population and this means that in time it gets harder and harder to find new fields of tubers, or large herds of impala, or the usual swamp tortoises. Human pressure on the area is pushing it past its carrying capacity, and relations with other bands in other tribes become increasingly stressful as competition intensifies.

Ultimately, the business that can spend the most to acquire a customer wins. A business beats its competition by making the same prospect worth more to his business than to that of his competition.

There is a noticeable parallel between the ways that commercial fishermen and department stores generate a competitive fury among those they wish to hook. To attract and arouse the catch, fishermen scatter some loose bait called chum. For similar purposes, department stores holding a bargain sale toss out a few especially good deals on prominently advertised items called loss leaders. If the bait—of either form—has done its job, a large and eager crowd forms to snap it up. Soon, in the rush to score, the group becomes agitated, nearly blinded, by the adversarial nature of the situation. Human beings and fish alike lose perspective on what they want and begin striking at whatever is being contested.

So the question is not, to cold call or not to cold call. Instead, the question is how to strategically balance prospecting across the various prospecting channels to give you a competitive advantage when interrupting prospects in the crowded, competitive marketplace.

Value innovation: The cornerstone of blue ocean strategy Value innovation is created in the region where a company’s actions favorably affect both its cost structure and its value proposition to buyers. Cost savings are made by eliminating and reducing the factors an industry competes on. Buyer value is lifted by raising and creating elements the industry has never offered. Over time, costs are reduced further as scale economies kick in due to the high sales volumes that superior value generates.

been intentionally designed into the technology. And when we can’t resist a drag on a cigarette after a few drinks at a party, we’re obeying the deep call of our paleomammalian ancestry. How’s that for an excuse? In fact, much of the everyday short-termism of consumer culture—from bingeing on junk food to the customer stampede at a clearance sale—can be traced back to the here-and-now instincts that are part of our evolutionary heritage. “The propensity for overconsumption,” argues neuroscientist Peter Whybrow, “is the relic of a time when individual survival depended upon fierce competition for resources . . . The ancient brain that drives us—evolved in scarcity, habit-driven and focused on short-term survival—is poorly matched to the frenzied affluence of contemporary material culture.

Vision mission: What was the original market or technology insight that led you to create this company? Customers: Who do you envision buying this product or service? Who will use it? Problem statement: What’s the problem you think you can solve for your potential customers? Use cases: What are the specific ways people will use this product or service to solve their problem? Product/solution: Give a detailed explanation of the technology behind the solution—what does it do now, and what else is it capable of doing? Ecosystem: In many cases there are other companies involved in solving the problem or adding additional value. These companies form an ecosystem around the problem and solution. What are all the companies and where in the ecosystem are the control points where one company has leverage? Competition: Who else is trying to solve this problem—or, if no one else sees the problem yet, who might jump in to compete with you to solve the problem once you identify it? Business model: How will your product or service change business for your customers? Will it increase their return on investment or reduce costs in a significant way? Or does it allow them to do something that couldn’t have been done with prior technology, creating huge value? Sales and go-to-market: Enterprise companies should articulate how the product or solution will make its way to the market. Through a sales force? Through distribution partners? Both? For a consumer company, how will users find out about your solution? From app stores? Search? Viral adoption? Growth hacking techniques? Advertising? PR? Organization: How is the company organized? Who are the major influencers on the company? How are decisions made? What kind of culture will work? Funding strategy: What’s the next funding event? A private financing? An IPO? How much runway does the company have before it needs more money and what kind of funding is in place to execute against the category strategy?

I managed to find a small spot to squeeze my bike's handlebars in between a few other fast-looking machines. As I set my helmet and shoes in position for a quick getaway, one of my new neighbors stepped up. He introduced himself and asked me how I thought I would do in the race. Not a standard question, I thought. I told him I just wanted to finish and end the race with a smile. He was not impressed.

As we approached our fifth small hill and were well into the Powerline Road, fatigue started to take hold. Just below the crest, my legs turned heavy, and I was losing ground. In the moment before I was going to concede, I felt something on the small of my back. My Italian friend has timed his reach perfectly and was guiding me to the top. It turns out that those 10 seconds of help were all I needed to finish with the pack. As we gathered, post-ride, and mingled around the cars, I thanked my ride saver for the assistance. After denying he had any role a few times, he smiled and said, "Sometimes, a helping hand is all we need to improve.

Saipem, an Italian-based company founded in 1957, has built some of the world's largest energy and infrastructure projects. It is organized into five business divisions that focus on onshore and offshore drilling, engineering and construction, and conceptual design services. Given its connection to oil and gas contracts, which effectively collapsed in 2014 with a plunge in oil prices, it has had to set a course beyond fossil fuels and rethink everything about its business. This "change or die" scenario sets the tone for its reporting and disclosure. Its 2019 sustainability report acknowledges the scenario it is facing and tackles the issue of the low-carbon transition head-on. At its core is the organziations rallying call, or "the four challenges," which describe the context and frame the opportunities it must capture to remain competitive.

The quality of organizational leadership, culture, and strategy determine competitive advantage and customer loyalty. This is the source of shareholder value.

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The entrepreneurs who stuck with Silicon Valley learned four big lessons from the dot-com crash that still guide business thinking today: 1. Make incremental advances Grand visions inflated the bubble, so they should not be indulged. Anyone who claims to be able to do something great is suspect, and anyone who wants to change the world should be more humble. Small, incremental steps are the only safe path forward. 2. Stay lean and flexible All companies must be “lean,” which is code for “unplanned.” You should not know what your business will do; planning is arrogant and inflexible. Instead you should try things out, “iterate,” and treat entrepreneurship as agnostic experimentation. 3. Improve on the competition Don’t try to create a new market prematurely. The only way to know you have a real business is to start with an already existing customer, so you should build your company by improving on recognizable products already offered by successful competitors. 4. Focus on product, not sales If your product requires advertising or salespeople to sell it, it’s not good enough: technology is primarily about product development, not distribution. Bubble-era advertising was obviously wasteful, so the only sustainable growth is viral growth.

Customer service has a huge influence on sales and cash flow. Customer service directly affects the attitude and actions of the team running the business. Customer service directly affects a business’s competitive advantage.

first is the huge increase in competition. Today no niche is safe.

When a loan officer complains about “inventory” or “their clients losing out on offers,” a humble suggestion. Hand the loan officer Census data and a mirror. Why build a home loan origination platform as a mortgage lender to service only a small fraction of the market - I.e.: new home construction - comparing sales of newly-built homes to sales of existing homes (resales)? Three answers. 1. Lower inventory = lower commission checks for loan officers, 2. Financing what the market actually needs is usually a good idea for salespeople, 3. Less competition - the loan officer’s job will not succumb to automation.

Be as omnipresent as you can . Do not think of the fictional concept of over exposure – no such thing exists in a hyper competitive world

Tesla Motors was created to accelerate the advent of sustainable transport. If we clear a path to the creation of compelling electric vehicles, but then lay intellectual property landmines behind us to inhibit others, we are acting in a manner contrary to that goal. Tesla will not initiate patent lawsuits against anyone who, in good faith, wants to use our technology. When I started out with my first company, Zip2, I thought patents were a good thing and worked hard to obtain them. And maybe they were good long ago, but too often these days they serve merely to stifle progress, entrench the positions of giant corporations and enrich those in the legal profession, rather than the actual inventors. After Zip2, when I realized that receiving a patent really just meant that you bought a lottery ticket to a lawsuit, I avoided them whenever possible. At Tesla, however, we felt compelled to create patents out of concern that the big car companies would copy our technology and then use their massive manufacturing, sales and marketing power to overwhelm Tesla. We couldn’t have been more wrong. The unfortunate reality is the opposite: electric car programs (or programs for any vehicle that doesn’t burn hydrocarbons) at the major manufacturers are small to non-existent, constituting an average of far less than 1% of their total vehicle sales. Given that annual new vehicle production is approaching 100 million per year and the global fleet is approximately 2 billion cars, it is impossible for Tesla to build electric cars fast enough to address the carbon crisis. By the same token, it means the market is enormous. Our true competition is not the small trickle of non-Tesla electric cars being produced, but rather the enormous flood of gasoline cars pouring out of the world’s factories every day. We believe that Tesla, other companies making electric cars, and the world would all benefit from a common, rapidly-evolving technology platform. Technology leadership is not defined by patents, which history has repeatedly shown to be small protection indeed against a determined competitor, but rather by the ability of a company to attract and motivate the world’s most talented engineers. We believe that applying the open source philosophy to our patents will strengthen rather than diminish Tesla’s position in this regard.[431]

In 2020 the EU announced partnerships worth US$91 million with Airbus, Israel Aerospace Industries, and Elbit to use their services to maintain an ongoing drone presence over the Mediterranean. Elbit’s Hermes drone and IAI’s Heron drone were used during Israel’s wars against Gaza since 2008.5 There’s growing competition in drone sales—Turkey’s TB2 can carry laser-guided bombs, be placed in a flatbed truck, and costs far less than Israeli or American drones, but Israeli models remain hugely popular.6 In 2017, Israeli drone manufacturers accounted for 60 percent of the global drone market in the previous three decades.

When it came to understanding a product on the technical level and then turning that detailed information into key marketing and sales messages by defining a unique selling proposition and differentiation from competition, I was suddenly enjoying my daily work more than ever before.

There is also a risk in some markets of a significant devaluation of the local currency. For example, if the country experiences a financial crisis and devalues its currency to the point that your goods are no longer competitively priced, you can lose your market position overnight. There are no easy answers when it comes to getting paid for international sales but planning in advance beats learning hard lessons after the fact. Choose the solutions that work best for your company and prepare for the implications of those choices. The best strategy is to do the due diligence on your new customers.

in memos as “senior NeXT exposure,” that is, the presence of Jobs himself. The competition also noticed the phenomenon. Field sales representatives for Sun found that their smooth progress in working an account would be thrown in turmoil when Jobs would present himself and sway the customer to consider the NeXT.

How Should I Structure My Pricing? Pricing is the biggest lever in SaaS, and almost no one gets it right out of the gate. Fortunately, you don’t need a PhD to structure your pricing well. Like most things in SaaS, finding the right pricing structure is one part theory, one part experimentation, and one part founder intuition. I wish I could tell you a single “correct” structure, but it varies based on your customer base, the value provided, and the competitive landscape. Most founders price their product too low or create confusing tiers that don’t align with the value a customer receives from the product. On the low end, if you have a product aimed at consumers, you can get away with charging $10 to $15 a month. The problem is at that price point, you’re going to be dealing with high churn, and you won’t have much budget to acquire customers. That can be brutal, but if you have a no-touch sign-up process with a product that sells itself, you can get away with it. Castos’s podcasting software and Snappa’s quick graphic design software are good examples of products that do well with a low average revenue per account (ARPA). You’ll have more breathing room (and less churn) if you aim for an ARPA of $50 a month or more. In niche markets—or where a demo is required or sales cycles are longer—aim higher (e.g., $250 a month and up). If you have a high-touch sales process that involves multiple calls, you need to charge enough to justify the cost of selling it. For example, $1,000 a month and up is a reasonable place to start. If you’re making true enterprise sales that require multiple demos and a procurement process, aim for $30,000 a year and up (into six figures). One of the best signals to guide your pricing is other SaaS tools, and I don’t just mean competition. Any SaaS tool a company in your space might replace you with, a complementary tool or a tool similar to yours in a different vertical can offer guidance, but make sure you don’t just compare features; compare how it’s sold. As mentioned above, the sales process has tremendous influence over how a product should be priced. There are so many SaaS tools out now that a survey of competitive and adjacent tools can give you a mental map of the range of prices you can charge. No matter where your business sits, one thing is true: “If no one’s complaining about your price, you’re probably priced too low.

Depending on the competitive landscape, some opportunities might be table stakes, while others might be strategic differentiators. Choosing one over the other will depend on your current position in the market. A missing table stake could torpedo sales, while a strategic differentiator could open up new customer segments. The key is to consider how addressing each opportunity positions you against your competitors. With market factors, we also want to consider any external trends (both opportunities and threats) that might impact which opportunity we might choose.

Digital marketing expert Angela Liberatore explains that digital marketing allows businesses to connect with a global audience, target specific groups of people, and track their campaigns in real-time. Unlike traditional marketing, digital marketing is more affordable and effective in building brand awareness, generating leads, and increasing sales, while also providing insights into customer behavior. By using data, businesses can make their marketing more personalized, build better relationships, and keep customers loyal. Digital marketing also helps businesses quickly adjust to market changes and customer needs, keeping them competitive in a constantly changing digital world. This makes digital marketing a key tool for businesses of all sizes to grow, innovate, and succeed in the long term.

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The essence of business consulting Business consulting is becoming a well-liked hit everywhere in the world. Consultation providers are important to business folks since they help them in making informative choices. That is solely potential after serving to them understand the workforce within the enterprise world. Managers who analyze the functionality of their businesses are bound to make higher earnings than those that don’t consult an expert for surveillance. They should perceive the risks concerned, weaknesses and strengths in order for their businesses to survive competition. It is with enterprise consulting that companies are capable of analyze as well as improve upon their strategic operations. This turns into attainable because of the experience across assorted fields translating into a spectrum of new ideas. Any effective enterprise consulting will allow you to faucet into their varied sources, capabilities as well as services. Your online business will take pleasure in proven approaches, ideas and even methods. Because of this you would not have to reinvent the wheel again. You make use of confirmed strategies and construct upon them. In spite of everything, this can ultimately translate into increased productiveness in addition to more sales for your online business. As a Richmond Business Help way to grow to be more productive in addition to worthwhile, the companies of a enterprise consulting cannot be ignored. Simply just remember to are on the same page as them. It's highly vital for a business to be on the identical wavelength as their enterprise consulting team. The enterprise states its wishes whereas the enterprise consultants rework it into an achievable aim. The business states its desires and the enterprise consultants define whether or not it's practical and the simplest method to turn dreams into reality. Involving a professional guide will information you in making crucial choices. They usually present you with different scenarios that are more likely to happen in the market in the present day. Additionally they explain how your decisions are prone to impression on what you are promoting in the future. In addition they present strategies on find out how to diversify the product line rather than relying on a single product. They are going to guide you to ensure that there's utmost progress and competition is at per. Enterprise consultants enhance the information stage of a business. Their data is effective. They've been involved in varied tasks earlier than and understand all of the facets involved in the planning process. Additionally they have a clear understanding of the dangers concerned in each enterprise growth step. You possibly can due to this fact depend upon them for the event of your enterprise.

Raising capital. Organisations like Rio Tinto, TomTom and GKN have all raised significant sums through the equity markets. Refinancing debt. Some companies, like Yell and Schaeffler, have rolled over billions in bank finance. However, many businesses are still finding banks reluctant to lend and have turned to bond issuance as an alternative. Divestment. Companies can sell off valuable assets, such as Barclays did with Barclays Global Investors, and it is always better to do so before a crisis; otherwise it will be seen for the fire sale it is and the price will be a fire-sale price. Furthermore, any sell-off that weakens a firm’s core capability or its long-term competitive position may also shorten its life. Cut costs but not capability The managing uncertainty survey revealed that the most common action that companies took when the financial crisis struck was to cut costs. Some 82% of respondents cut costs. When asked about their future responses to uncertainty, 76% indicated they would continue to focus on cost reduction.

EARNINGS McDonald's Plans Marketing Push as Profit Slides By Julie Jargon | 436 words Associated Press The burger giant has been struggling to maintain relevance among younger consumers and fill orders quickly in kitchens that have grown overwhelmed with menu items. McDonald's Corp. plans a marketing push to emphasize its fresh-cooked breakfasts as it battles growing competition for the morning meal. Competition at breakfast has heated up recently as Yum Brands Inc.'s Taco Bell entered the business with its new Waffle Taco last month and other rivals have added or discounted breakfast items. McDonald's Chief Executive Don Thompson said it hasn't yet noticed an impact from Taco Bell's breakfast debut, but that the overall increased competition "forces us to focus even more on being aggressive in breakfast." Mr. Thompson's comments came after McDonald's on Tuesday reported that its profit for the first three months of 2014 dropped 5.2% from a year earlier, weaker than analysts' expectations. Comparable sales at U.S. restaurants open more than a year declined 1.7% for the quarter and 0.6% for March, the fifth straight month of declines in the company's biggest market. Global same-store sales rose 0.5% for both the quarter and month. Mr. Thompson acknowledged again that the company has lost relevance with some customers and needs to strengthen its menu offerings. He emphasized Tuesday that McDonald's is focused on stabilizing key markets, including the U.S., Germany, Australia and Japan. The CEO said McDonald's has dominated the fast-food breakfast business for 35 years, and "we don't plan on giving that up." The company plans in upcoming ads to inform customers that it cooks its breakfast, unlike some rivals. "We crack fresh eggs, grill sausage and bacon," Mr. Thompson said. "This is not a microwave deal." Beyond breakfast, McDonald's also plans to boost marketing of core menu items such as Big Macs and french fries, since those core products make up 40% of total sales. To serve customers more quickly, the chain is working to optimize staffing, and is adding new prep tables that let workers more efficiently add new toppings when guests want to customize orders. McDonald's also said it aims to sell more company-owned restaurants outside the U.S. to franchisees. Currently, 81% of its restaurants around the world are franchised. Collecting royalties from franchisees provides a stable source of income for a restaurant company and removes the cost of operating them. McDonald's reported a first-quarter profit of $1.2 billion, or $1.21 a share, down from $1.27 billion, or $1.26 a share, a year earlier. The company partly attributed the decline to the effect of income-tax benefits in the prior year. Total revenue for the quarter edged up 1.4% to $6.7 billion, though costs rose faster, at 2.3%. Analysts polled by Thomson Reuters forecast earnings of $1.24 a share on revenue of $6.72 billion.

a 2003 study, which demonstrated that consumers’ preference for an online retailer increases when they are offered competitive price information.[xxxvi] The technique has also been used by Progressive, the car insurance company, to drive over $15 billion of annual insurance sales, up from just $3.4 billion before the tactic was implemented.

YOU NEED TO SELL THE SAME WAY THAT YOU BUY.

They can sell at that price—and go broke and you can, too! If you base your price on your competitor’s price—and they are going broke—you will, too. Typically, someone among your competition is going broke and usually is cutting prices on the way out. Owen Young, who is credited with having built General Electric, once said, “It’s not the crook we fear in modern business; rather it’s the honest guy who doesn’t know what he is doing.

s s i o n o f R a t i o n a l S o f t w a r e C o r p o r a t i o n i s t o e n s u r e t h e s u c c e s s o f c u s t o m e r s c o n s t r u c t i n g t h e s o f t w a r e s y s t e m s t h a t t h e y d e p e n d o n . We enable our customers to achieve their business objectives by turning software into a source of competitive advantage, speeding time-to-market, reducing the risk of failure, and improving software quality. We fulfill our mission with the Rational ApproachTM, a comprehensive softwareengineering solution consisting of three elements: • A configurable set of processes and techniques for the development of software, based on iterative development, object modeling, and an architectural approach to software reuse. • An integrated family of application construction tools that automate the Rational Approach throughout the software lifecycle. • Technical consulting services delivered by our worldwide field organization of software engineers and technical sales professionals. Our customers include businesses in the Asia/Pacific region, Europe, and North America that are leaders in leveraging semiconductor, communications, and software technologies to achieve their business objectives. We serve customers in a diverse range of industries, such as telecommunications

o n o f R a t i o n a l S o f t w a r e C o r p o r a t i o n i s t o e n s u r e t h e s u c c e s s o f c u s t o m e r s c o n s t r u c t i n g t h e s o f t w a r e s y s t e m s t h a t t h e y d e p e n d o n . We enable our customers to achieve their business objectives by turning software into a source of competitive advantage, speeding time-to-market, reducing the risk of failure, and improving software quality. We fulfill our mission with the Rational ApproachTM, a comprehensive softwareengineering solution consisting of three elements: • A configurable set of processes and techniques for the development of software, based on iterative development, object modeling, and an architectural approach to software reuse. • An integrated family of application construction tools that automate the Rational Approach throughout the software lifecycle. • Technical consulting services delivered by our worldwide field organization of software engineers and technical sales professionals. Our customers include businesses in the Asia/Pacific region, Europe, and North America that are leaders in leveraging semiconductor, communications, and software technologies to achieve their business objectives. We serve customers in a diverse range of industries, such as telecommunications, banking and financial services, manufacturing, transportation, aerospace, and defense.They construct software applications for a wide range of platforms, from microprocessors embedded in telephone switching systems to enterprisewide information systems running on company-specific intranets. Rational Software Corporation is traded on the NASDAQ system under the symbol RATL.1

as long as their salespeople maintain sales from existing clients at past levels or above, give them 100 percent of the profit on the first sale for every new client they bring in. They’ll be ten times more motivated to sell new clients.

Top brands stayed on top because of the continual investment and commitment of the manufacturers during a time when mass media gave them an affordable and highly effective route to the consumers’ minds. They were able to defend their positions because they could afford more R & D, more advertising and a bigger sales force than any interlopers. Manufacturers became used to the idea of owning space in the consumer’s mind and believed it was theirs by right. But brand mindspace is not a permanently acquired asset that continually delivers profits. Rather, it represents a position that must be continually defended, especially today, where competition from retailers comes as a shock to most manufacturers.

Retailers have to generate increased sales in each location to justify the investment, and every manufacturer has to demonstrate how their brands help to achieve this versus competitive brands, either through increasing store traffic or increasing basket size, or both.

Playwright Noel Coward once said, “Work is more fun than fun.” I included that quote in a seminar guidebook for a sales group a year ago and one of the participants in the back of the room raised his hand and said, “Yeah, Steve, who is this Noel Coward guy? I figure with a quote like that he’s either a porn star or a professional golfer.” That line got a great laugh at my expense, but it also revealed a truth (which almost all humor does). People believe that the fun jobs are always somewhere else. “If only I could get a job like that!” “If only I had been a pro golfer!” But the truth is that fulfilling and fun work can be found in anything. The more we consciously introduce game-playing elements (personal bests listed, goals, time limits, competition with self or others, record-keeping, and so on), the more fun the activity becomes.

The family farm is failing because the pattern it belongs to is failing, and the principal reason for this failure is the universal adoption, by our people and our leaders alike, of industrial values, which are based on three assumptions: 1. That value equals price—that the value of a farm, for example, is whatever it would bring on sale, because both a place and its price are “assets.” There is no essential difference between farming and selling a farm. 2. That all relations are mechanical. That a farm, for example, can be used like a factory, because there is no essential difference between a farm and a factory. 3. That the sufficient and definitive human motive is competitiveness—that a community, for example, can be treated like a resource or a market, because there is no difference between a community and a resource or a market. The industrial mind is a mind without compunction; it simply accepts that people, ultimately, will be treated as things and that things, ultimately, will be treated as garbage. Such

Compare net-promoter scores from specific regions, branches, service or sales reps, and customer segments. This often reveals root causes of differences as well as best practices that can be shared. What really counts, of course, is how your company compares with direct competitors. Have your market researchers survey your competitors’ customers using the same method. You can then determine how your company stacks up within your industry and whether your current net-promoter number is a competitive asset or a liability. Improve

One interview technique that I’d used to sort the good from the bad was to ask a series of questions about hiring, training, and managing sales reps. Typically, it would go like this: Ben: “What do you look for in a sales rep?” Candidate: “They need to be smart, aggressive, and competitive. They need to know how to do complex deals and navigate organizations.” Ben: “How do you test for those things in an interview?” Candidate: “Umm, well, I hire everybody out of my network.” Ben: “Okay, once you get them on board, what do you expect from them?” Candidate: “I expect them to understand and follow the sales process, I expect them to master the product, I expect them to be accurate in their forecasting. . . .” Ben: “Tell me about the training program that you designed to achieve this.” Candidate: “Umm.” They would then proceed to make something up as they went along.

Let’s look at the case of Opsware. Why did I sell Opsware? Another good question is why didn’t I sell Opsware until I did? At Opsware, we started in the server automation market. When we received our first inquiries and offers for the server automation company, we had fewer than fifty customers. I believed that there were at least ten thousand target customers and that we had a decent shot at being number one. In addition, although I knew the market would be redefined, I thought that we could expand to networks and storage (data center automation) faster than the competition and win that market as well. Therefore, assuming 30 percent market share, somebody would have had to pay sixty times what we were worth in forward credit to buy out our potential. You won’t be surprised to find that nobody was willing to pay that. Once we grew to several hundred customers and expanded into data center automation, we were still number one and were more valuable stand-alone than any of the prior acquisition offers. At that point both Opsware and our main competitor, BladeLogic, had developed into full-fledged companies (worldwide sales forces, built-out professional services, etc.). This was significant, because it meant that a large company could buy one of us and potentially execute successfully (big enterprise companies can’t generally succeed with small acquisitions, because too much of the important intellectual property is the sales methodology, and big companies can’t build that).

We would have won, but the other guys gave the deal away.” “The customer selected us technically and thinks we are the better company, but our competitor just gave the product away. We would never sell so cheaply as it would hurt our reputation.” Anybody who has ever run an enterprise sales force has heard this lie before. You go into an account, you fight hard, and you lose. The sales rep, not wanting to shine the light on himself, blames the “used car dealer” rep from the other company. The CEO, not wanting to believe that she’s losing product competitiveness, believes the rep. If you hear this lie, try to validate the claim with the actual customer. I’ll bet you can’t.

Howard Schultz, the man who built Starbucks into a colossus, isn’t so different from Travis in some ways.5.22 He grew up in a public housing project in Brooklyn, sharing a two-bedroom apartment with his parents and two siblings. When he was seven years old, Schultz’s father broke his ankle and lost his job driving a diaper truck. That was all it took to throw the family into crisis. His father, after his ankle healed, began cycling through a series of lower-paying jobs. “My dad never found his way,” Schultz told me. “I saw his self-esteem get battered. I felt like there was so much more he could have accomplished.” Schultz’s school was a wild, overcrowded place with asphalt playgrounds and kids playing football, basketball, softball, punch ball, slap ball, and any other game they could devise. If your team lost, it could take an hour to get another turn. So Schultz made sure his team always won, no matter the cost. He would come home with bloody scrapes on his elbows and knees, which his mother would gently rinse with a wet cloth. “You don’t quit,” she told him. His competitiveness earned him a college football scholarship (he broke his jaw and never played a game), a communications degree, and eventually a job as a Xerox salesman in New York City. He’d wake up every morning, go to a new midtown office building, take the elevator to the top floor, and go door-to-door, politely inquiring if anyone was interested in toner or copy machines. Then he’d ride the elevator down one floor and start all over again. By the early 1980s, Schultz was working for a plastics manufacturer when he noticed that a little-known retailer in Seattle was ordering an inordinate number of coffee drip cones. Schultz flew out and fell in love with the company. Two years later, when he heard that Starbucks, then just six stores, was for sale, he asked everyone he knew for money and bought it. That was 1987. Within three years, there were eighty-four stores; within six years, more than a thousand. Today, there are seventeen thousand stores in more than fifty countries.

The more concentrated the competition, the more you have to worry about it. If you don’t realize when a case involves high competitor concentration, you could easily make a strategic recommendation that’s flat-out wrong. The easiest way to assess competitor concentration is to ask the following questions: How many competitors are there? How big are they (in terms of sales or market share)?

One version of Borrowed thinking is a technique I call the Different Lens. To begin, brainstorm a list of people, industries, or perspectives. Examples may include: an archaeologist, a 4-year-old, someone living 200 years in the future, Elon Musk, a Navy SEAL, a zoologist, Brad Pitt, Picasso, a professional bowling champion. The more diverse and strange, the better. Next, take a stack of index cards and write one name or role from your list on the back of each. You’re now armed for a Different Lens brainstorm session. First, clearly articulate the real-world challenge you’re facing. Perhaps it is developing a new product to combat a competitive launch. Maybe you’re looking for a way to improve closing rates throughout your sales force, attract and retain Millennial workers, or reduce error-rates in your manufacturing plant. Once the challenge has been identified, turn over one card. If the card reads “architect,” the group brainstorms how an architect would approach their real-world challenge. Once the ideas start to dwindle, flip over the next card and look at the problem through the next lens. Instead of thinking about how your competition is solving this problem, think about how Beyoncé would slay it. Before long, you and your team will see the problem in a whole new light, and by borrowing the thinking from others, you’ll gain a fresh perspective that will lead to the innovative solutions you seek.

His order cited "credible evidence" that a takeover "threatens to impair the national security of the US".Qualcomm was already trying to fend off Broadcom's bid.The deal would have created the world's third-largest chipmaker behind Intel and Samsung.It would also have been the biggest takeover the technology koo50 sector had ever seen.The presidential order said: "The proposed takeover of Qualcomm by the Purchaser (Broadcom) is prohibited. and any substantially equivalent merger. acquisition. or takeover. whether effected directly or indirectly. is also prohibited."Crown jewelSome analysts said President Trump's decision was more about competitiveness and winning the race for 5G technology. than security concerns.The sector is in a race to develop chips for the latest 5G wireless technology. and Qualcomm was considered by Broadcom a significant asset in its bid to gain market share.Image captionQualcomm has already showcased 1Gbps mobile internet speeds using a 5G chip"Given the current political climate in the US and other regions around the world. everyone is taking a more conservative view on mergers and acquisitions and protecting their own domains." IDC's Mario Morales. vice president of enabling technologies and semiconductors told the BBC."We are all at the start of a race. and you have 5G as a crown jewel that everyone wants to participate in - and every region is racing towards that." he said."We don't want to hinder someone like Qualcomm so that they can't provide the technology to the vendors that are competing within that space."US investigates Broadcom's Qualcomm bidQualcomm rejects Broadcom takeover bidHuawei's US smartphone deal collapsesSingapore-based Broadcom had been pursuing San Diego-based Qualcomm for about four months.Last week however. Broadcom's hostile takeover bid was put under investigation by the Committee on Foreign Investment in the US. a multi-agency led by the US Treasury Department.The US company had rejected approaches from its rival on the grounds that the offer undervalued the business. and also that any takeover would face antitrust hurdles.Earlier this year. Chinese telecoms giant Huawei said it had not been able to strike a deal to sell its new smartphone via a US carrier. widely believed to be AT&T.The US also recently blocked the $1.2bn sale of money transfer firm Moneygram to China's Ant Financial. the digital payments arm of Alibaba.

A retailer facing competition from hard discounters or Wal-Mart cannot afford to lose their price-sensitive shoppers, because, as we saw in Chapter 2, retailers are sensitive to small changes in sales, and price-sensitive shoppers are a significant segment of shoppers. Dropping

Two changes have weakened manufacturers’ hold over shelfspace. Independent stores, who were heavily influenced by the manufacturers, have declined dramatically in the face of competition from major chains and are now insignificant in most categories The large, sophisticated retailers have stopped seeing their shelfspace as a commodity for sale, and now see it as a crucial resource to be used in pursuit of their own objectives. In particular, retailers who are actively marketing their private label brands in competition with manufacturers will use shelfspace to promote their own brands. They have taken back control of ‘their’ shelfspace.

General Questions What are the business issues (service quality, product quality, speed, capacity, cost, morale, competitive landscape, impending regulations, etc.) we wish to address? What does the customer want? What measurable target condition(s) are we aiming for? Which process blocks add value or are necessary non-value-adding? How can we reduce delays between processes? How can we improve the quality of incoming work at each process? How can we reduce work effort and other expenses across the value stream? How can we create a more effective value stream (greater value to customers, better supplier relationships, higher sales conversion rates, better estimates-to-actuals, lower legal and compliance risk, etc.)? How will we monitor value stream performance?

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