Compete Less On Price

In a world where the customer is able to set the price, to grow your business you need to compete less on Price, and more on Material Control, and Function/Design.

Here is how to do it.

  1. Take a real hard, clear look at your company’s current capability level. Are you competing mostly on price right now?
  2. Decide how to take your operation to the next level.
  3. Understand that getting to the next level involves changes in mindset, planning, and strategy execution, rather than heavy financial investment.
  4. To compete on a higher level, you probably will need to get outside guidance for a limited amount of time.
  5. Competing profitably on any of these levels, including Price, involves 2 factors:  (1) how well you develop your employee’s talent, and (2) how well you execute your strategy across all of your company’s teams to achieve target performance