Small companies budgets will not be comparable, however it’s certainly potential to find new uses for present merchandise or department out into similar markets. For example, a restaurant owner may think about non-public catering, or doing a little B2B advertising to get well-packaged signature products onto local grocery retailer shelves. Some of the best business strategy books of all time embody Good Strategy Bad Strategy by Richard Rumelt, Blue Ocean Strategy by W. Chan Kim and Renee Mauborgne, and Competitive Strategy by Michael E. Porter.
- For example, phrases like “delivering a wonderful experience” might apply to many industries.
- The bicycle store could be serving to families with youngsters bicycles as they grow, or it may be providing actual expertise to the intense bikers.
- However, in those occasions, it is much more important to allocate assets wisely.
- It includes stepping again from your day-to-day operations and asking the place your small