THE ART OF WINNING DON'T LOSE. WHETHER YOU ARE A LARGE CORPORATION OR A STARTUP, MAKE SURE YOU WIN.
SET A WINNING STRATEGY FOR YOUR VENTURE.
Strategy is the Art of winning. Don't lose. Whether you are a large corporation or a start-up, just make sure you win. Now that the context is set, let's work on how you win in business and even life. This article illustrates how to set a winning strategy for your start-up or venture. The framework used is the Competitive Strategy toolkit, from Micheal Porter, a well-known Harvard’s professor of corporate strategy. We focus on the competitive aspect of the strategy because, as we said, Capitalism is war. That's just the cold truth. COMPETITIVE STRATEGY
It's like marriage, know where you getting yourself into. The most important industry analysis tool used across the globe is the Porter’s Five Forces, from guess who, Professor Micheal Porter. We won't present the entire toolkit here but the take away is this:
There are players/threats surrounding the industry who have some level of bargaining power, and there are competitors/rivals within the industry. The questions you should ask is: who are the players and threats, and how strong they are. In other words, what are their bargaining power(high, medium, low). Make sure you understand the Forces surrounding the industry, and the competitors/players within it. If you don't do this well, you just increase your chances to lose. As the statistics show 80% of startups and venture fail. Don’t be one of them. In addition, perfectly analyzing your industry should also helps you define if it is a high margin/profit one or not, which is value in essence(profit is value). Your equity will come from whether you can capture value (profit margin) or not. So, make sure you win.