Thought for the Day
“There are three kinds of people—those who make things happen, those who watch what goes on, and those who don’t know what has happened”
Nicholas Murray Butler
Featured Business Tool
How do we go about ensuring that we beat our competition?
Start by picking your three most challenging competitors in the example A, B and C.
You then list the criteria your customers use when deciding which product or service to buy. Then select the top four or five. In this example we have chosen four – Accessibility, Value for money, Quality and Turnaround time.
Now weight the four criteria (Total weight 100) – in the example the most important are accessibility and quality and the least important is Turnaround time.
The trick with this tool is to mark your business at half the weighting for each category and move on to mark your competitors in relation to you but with a maximum score of the weighting for that criteria.
We then look at where our competitors beat our score and look at what we can do to overtake them
In the example Competitor A beats us by ten points on Accessibility – what action can we take or what can we change to beat them?
How could you use these ideas to drive your Business forward?
The Future of Business Support
The Government has decided to close down the national delivery of the Business Growth Service by 31 March 2016 despite a 94% approval rating by its customers.
My understanding is that a new Help to Grow Scheme is to be developed by the British Business Bank to replace the Access to Funding service and that funding for English Growth Hubs has been increased by £12m in 2016/ 2017 – small beer when compared with an £84m saving by closing Business Growth Service!
The wheel has turned full circle and we are returning to locally prescribed, in this case by your Local Enterprise Partnership, Business Support Service delivered by your local Growth Hub.
In the meantime MRW Corporate Solutions are offering a 20% discount to businesses that would have qualified for a grant under the old Business Growth Service rules for Leadership and Management projects signed up before 31 March 2016.
Following on from my last piece on Cyber Security this is a must watch Video:
Dave is an extremely gifted clairvoyant who finds out specific financial information. This video reveals the magic behind the magic, making people aware of the fact that their entire life can be found online. Wait for the reveal and from now on you will be more vigilant.
Follow this link by right clicking on it and click open link in new window
If you have a favourite business video please let me know so that we can share
Growth & Profit Diagnostic
Try my free online GPS Diagnostic – it is a powerful tool which helps you to pinpoint your key opportunities for increased Growth and Profit. It is free to use, only takes 10 minutes, and a short report is emailed directly to you.
To access your free copy of this powerful tool go to www.mrwcs.com/services/growth-and-profit/. Once completed you will be sent a short confidential report.