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Five Forces—Threats

Five Forces—Threats

What threats does your business face? Where do those threats come from? We’ve talked about three other forces that can have a huge impact on the success of our business.  Each of these forces is based on the current business environment.  But the last two forces...

Five Forces—Intensity of Rivalry

How strong is your business compared to your competition? Or take it even one step back and tell me, who is your competition?  In any business situation, it’s important to understand who your competition is. Let me give you three main types of competitors to...
Five Forces—Bargaining Power

Five Forces—Bargaining Power

How much power do you have in negotiating with your suppliers and customers? The first and fifth of the Five Forces described by Michael Porter are Buyer Bargaining Power and Supplier Bargaining Power.  If this is the first time you’ve heard about Porter’s...
Where Does Your Business Fit In?

Where Does Your Business Fit In?

Think about your business.  Where does it fit into its space? How does your business operate relative to your competitors, suppliers, customers, etc.  Who are your competitors?  Do you even have suppliers?  Well, of course you do, but have you thought about it?  Who...