Thought leaders have a five star business network. They leverage of the value created by their business and supplier contacts to outcompete rivals and stay relevant. Your business can outcompete rivals too using its network. There are a number of ways your business can achieve this goal. Firstly, build a good business network. To outcompete your competitors, you must first have a network or trusted suppliers and customers. You can build your business network by joining your local chamber of commerce, optimising your online and offline business networks and attending regular, relevant networking events. The second key to outcompeting your rivals using your business network is to have your network communicate your business proposition. It is often said that the best advertising is done by word of mouth. Therefore, getting your network to communicate why customers should buy your products is essential to outcompeting anyone. The third part of outcompeting your rivals using your business network is to give your network ‘buy-in’ on your products. Your business needs to clearly demonstrate its value to your network, otherwise it will have difficulty demonstrating its value to customers. The final way that you can outcompete your rivals by using your business network is to continually review the contacts in your network to ensure that your contacts meet your goals.
Outcompete anyone using your Business Network
TIME TO READ
January 8, 2019
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Our Quick Notes On Five Flows Of Supply Chain Management
Part of our new “Quick Notes” series – this report answers your most pertinent questions of the topic.
- What are the five flows of SCM?
- Why are they important TO YOU?
- How can you map, track, and optimise these flows to serve YOU?
- What is the importance of difference between "Supply Chain" and "Value Chain"?
- What are the stellar case studies of each of the five flows?