Rick’s Strategic Planning Process
A strategic planning process, when done right, enables an organization to set priorities, focus energy and resources, and navigate a rapidly changing environment. That said, putting together a strategic plan…
Five Agile Innovation Tips for Startups
As an adviser to countless startups, I'm very interested in learning all I can to help foster innovation in rapidly shifting markets. And so, I read everything I can get…
How is that Strategic Alliance Working Out?
If you answered that question, “not so great” you are not alone. Strategic alliances (often referred to as partnerships) can be very effective ways to achieve a goal or goals…
Price Your Product to Capture the Value You Create
Markets Don't Set Prices Are you leaving money on the table by pricing products based on costs? According to Wharton marketing professors Jagmohan Raju and John Zhang, most companies either…
Licensing May be the Best Business Model for You
Let’s face it, not every inventor, scientist, or engineer is cut out to be a great businessperson. If that sounds like you, then you may be better off employing a…
The Operating Model Just Might be Best for You
In our last post, Your IP Gives You Two Business Model Choices, we touched upon the differences between a traditional operating business model and a licensing business model. In that…
Your IP Gives You Two Business Model Choices
You may recall a popular post from September 2012, Licensing Your Intellectual Property for Fun and Profit. The point of the article was to describe the potentially lucrative, yet often…
The Fallacy of First-Mover Advantage
“No one remembers the second man on the moon,” goes the marketing adage. “Or second to market.” Fans of Buzz Aldrin may disagree, but the fact remains that Neil Armstrong…
How to Create a Compelling Customer Value Proposition
When asked to describe their customer value propositions, most entrepreneurs start reciting a laundry list of product features. Features are near and dear to the hearts of most people close…
Unshackle Yourself from Unprofitable Customers
As we begin a new year, you might be drafting a list of resolutions to kick your business up to the next level. Here’s one place to start boosting your…