February 2011

From Finger Lickin’ Good To Not So Good

by Paul Simister on February 25, 2011

I was shocked to read the other day that KFC, the fast food giant that used to be known as Kentucky Fried Chicken is to change its slogan from “Finger Lickin’ Good” which is distinctive to “So Good” which is bland and boring. (Photo from viZZZual.com) Even worse, So Good can apply to anything and […]

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How Important Is Your Differentiation?

by Paul Simister on February 23, 2011

I believe every business needs to have some way to differentiate itself from competitors who are equally eager to snare business from customers. Your task is to communicate your differentiation quickly and effectively so your customers understand and appreciate why they should buy from you. First list down all your features about your product or […]

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Customer Value : What Do You Get For Your Money?

by Paul Simister on February 22, 2011

For about the last 15 years I have been fascinated by the concept of customer value – what you get for your money when you buy. When we buy, we instinctively get a feel if what is offered represents good value for money based on what we want and our experience of buying and using […]

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8 Fatal Mistakes In Strategy Implementation

by Paul Simister on February 22, 2011

Yesterday I wrote about mistakes in strategic planning. But planning is the start of the strategy journey and not the end. Effective implementation is essential if you are going to be achieve your strategic goals However this is where it does get more difficult since you have to get your staff, customers and suppliers to […]

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8 Fatal Mistakes In Strategic Planning

by Paul Simister on February 21, 2011

There are eight common mistakes I see in strategic planning which can be avoided but can also be fatal. The 8 Fatal Mistakes In Strategic Planning Strategic Planning Mistake 1 – Focusing on tactics not strategy. Just to be clear, strategy explains the “why”, tactics are the “what”.

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Why Doesn’t Strategy Work?

by Paul Simister on February 21, 2011

I’ve deliberately written a contentious title, “Why Doesn’t Strategy Work” because I believe the opposite. When it’s done right, spending time on developing and implementing your business strategy is some of the best and well rewarded time an entrepreneur can spend. But I also have to admit that when it is done wrong, strategy doesn’t […]

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Competitive Strategy by Michael Porter Review

by Paul Simister on February 19, 2011

“Competitive Strategy: Techniques for Analyzing Industries and Competitors” by Michael E. Porter is a classic business strategy text and must reading for anybody who has a serious interest in business strategy. It was this book combined with Competitive Advantage which established Harvard Business School Professor, Michael Porter’s reputation as the pre-eminent thinker on business strategy […]

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Will Your New Business Start-Up Succeed?

by Paul Simister on February 18, 2011

Have you ever seen the TV programme Dragons’ Den where entrepreneurs and inventors pitch for real money from multi-millionaire investors? The Dragons only have a short time to decide if they are going to invest based on whether they think the business that is being pitched to them will succeed or fail. How do they […]

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Managing Down To A Low Price

by Paul Simister on February 16, 2011

In the Basics of Supply & Demand, I explained why value, price and costs are so important. Because demand is normally a downward sloping line, as price decreases then demand increases. That happens at the market level and it happens at the individual product level.

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The Basics Of Supply & Demand

by Paul Simister on February 15, 2011

If you learn economics, one of the first things you’ll be taught is the law of supply and demand. It’s like a great big X on a graph of prices and volumes. The demand curve slopes downwards with the basic rule that as price decreases, then demand increases. Or vice -versa – as prices increases, […]

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Marketing Bingo Or Yellow Pages Bingo For Accountants

by Paul Simister on February 14, 2011

Yellow Pages Bingo or Marketing Bingo is my game for checking that your marketing hasn’t fallen into the trap of being too similar to your competitors. This is a practical example of applying Yellow Pages Bingo to the Accountants market. In this blog I look at the Yellow Pages for accountants in Central Birmingham. I […]

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Marketing Bingo, Yellow Pages Bingo Or Website Bingo

by Paul Simister on February 14, 2011

Management-speak bingo is a fun game employees can play while listening to senior executives give a rallying call to the troops. They pick ten popular management buzzwords or phrases along with their fellow players and wait for the esteemed leader to call them out. If one gets a full house – every phrases they’ve selected […]

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Stuck In The Middle Of Porter’s Generic Strategies

by Paul Simister on February 14, 2011

Harvard professor and world famous business strategist Michael Porter has a simple view to business and how you can generate superior returns from your business – the generic strategies –  but you can get stuck in the middle, not one thing or the other. These ideas were introduced in the book Competitive Strategy by Michael […]

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Welcome To Differentiate Your Business

by Paul Simister on February 7, 2011

Welcome to my new blog – Differentiate Your Business. My aim is to help owners of small businesses to stand out from the crowd and to profit from differentiating their businesses from their competitors. Competing in the same way, selling the same things as everyone around you is a recipe for trouble. As far as […]

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