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Market

Market Strategy

What are the 3 Stages of Company Growth?

Andrew Penny, February 15 2022

Eventually, every successful company becomes a customer service company. As a company grows it goes through a number of step changes which require its CEO to think very differently. Take for example a manufacturing company. The first stage of growth is getting to product/market fit. And, often the term ‘minimum viable product’ is used to describe t...

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Market Strategy

Changing the Game

Andrew Penny, November 16 2021

When you enter a new market, the natural inclination is to figure out how the game is played there and then how you can play it better than the incumbents. This is a very poor way to enter a new market. A better way is to determine what the end users require and then start from a blank sheet to design your own way to serve the ‘best’ segment in tha...

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Market Strategy

Global Trends that will Change your Business – Like it or Not.

Andrew Penny, November 11 2021

As a business leader, you own your company’s strategy.  But most of us get tied up in the day-to-day and, at best, are focusing on tactics that will see us through this quarter or this year.  The next few years are guaranteed to be full of big changes and therefore will present equivalently large threats and opportunities.

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Leadership & Management

Executive Privilege and Why You Don’t Want It

Andrew Penny, October 28 2021

The reason I bring this up is because of a more recent interaction with Bell. My internet stopped working and so I went online to try and resolve it… The first items on their phone tree are all about buying a new phone, a new TV service, faster internet etc… Eventually you get down to repairs and you again click through a long tree only to be put o...

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Market Strategy

Will my channel revolt if I introduce a D2C model

Andrew Penny, September 9 2021

“I have an established sales and distribution network. How would I ever be able to set up a direct to Customer sales approach?   Great question. Many industries are locked into old ways of working and will find it hard to transition; the automotive industry is a great example. Manufacturers depend on a huge network of franchised dealers who promote...

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Market Strategy

How to Set up a Direct to Customer Sales Channel

Andrew Penny, September 2 2021

For many new companies, selling direct to the customer is quite natural. However, if you run an established company, you might be asking yourself how difficult will it be to set up a direct to customer model. This is the fourth in a series of articles on D2C. In previous articles we’ve looked at the factors that make D2C possible, the non-cash be...

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Market Strategy

Is D2C Worth The Hassle?

Andrew Penny, August 26 2021

This is the third in a series on Direct to Customer (D2C). This one explores the financial implications. All of us in business are part of an end-2-end value chain that ends when the product or service is consumed. The ‘Direct to Customer’ model is one that skips some of the traditional steps that in the past would have been completed by an indirec...

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Communication

Connection Decay

Andrew Penny, June 15 2021

A few weeks ago, I tried to connect with the national sales manager of a North American appliance manufacturer. I went through a fairly torturous auto-attendant reception tree to try and find the individual. I eventually spoke to a live person who offered to transfer me – and I was put on hold, indefinitely.  I dialed back in and then went throug...

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Communication

Look me in the eye when you say that!

Jelena Franco, April 20 2021

Eye contact is a crucial form of body language during communication (just as long as you don't stare :-) When you look a person in the eyes it shows that you are paying attention and actually listening to what a person has to say. Having spent many, many hours on Zoom over the last year or so, I think we have all found that maintaining eye contac...

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Channels

Going to a New Market? Do these 3 things:

Andrew Penny, April 13 2021

ONE:You need to obtain a high-level view of the market. This needs to be from your perspective, not a distributor or potential agent who will have inherent bias. Think of it as a 30,000-foot flyover to understand how the market works today. This will give you an indication of your potential revenue from this market. And it will give you a sense of...

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