Where ever you are in your business chances are you want to make it a grow a bit or a least make it a bit easier on yourself in the trenches. This is where Porters fives competitive forces can come in really handy. Just by asking yourself these 5 simple questions you can get a better idea of your competitive landscape no matter what kind of business you are running.
New Entrants: How likely are new people likely to enter your business? Are their barriers that stop them entering
Substitutes: Is their a substitute that can replace your product or service? Sometimes this is a completely new product or technology?
Customers: What is the bargaining power of your customers? Are they price sensative
Suppliers: Are you dependant on any suppliers, How much power do they have?
Your Rivals: How competitive is the industry you are in? How many other options are there
Usually at least one of these forces is dominant. Just by identifying this force and doing something about it is a key to improving your competitiveness and overall success! For example with hind sight we can see that the digital camera was a substitute that eventually did in Kodak, who ironically were the inventor of the digital camera.
Whats your most powerful force and what can you do about it? Once you know it, it’s important to let your customers and potential customer know about it!
I still do quite a bit of work in the university sector. (I guess you get that when you come from a research background). Universities are full of amazing and very capable people with great ideas. These ideas are often well tested in the laboratory too!
There is a great strategy book about a fat smoke (Strategy and the Fat Smoker” by D. Maister). You can read the whole book if you like but the Itty Bitty take on it is this: The fat smoker knows he has to give up the cigars, the booze and start exercising to lose some weight…but nothing actually happens until the heart attack. Then and only then does he take action and do something about it. Then once the crisis is over its probably not long till he’s back on the booze and the fags.
It takes a long time for a prospect to actually make the decision to buy a product or service. There are several processes they go through, and at each step there is a funnelling, or more correctly a loss, of prospects. This is called the consumer decision making process. If you understand your customer you can help them through each of these stages by embedding information and values that will aid a successful conversion.


One of the great joys of being a researcher is taking on doctoral candidates. These are our brightest minds of the future who go on a 3yr (or more) journey into the unknown. Armed with years of technical training it’s their opportunity to apply it creatively to further advance knowledge and society. One of the great things is seeing that success carry forward, where ever their careers take them ..
At the most recent 
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