article thumbnail

5 Factors Which Define The Scope Of Your Competition

Startup Professionals Musings

Porter proposed his Five Forces framework for analyzing the competitive environment which I think makes even more sense today. You are never the only alternative, hopefully just the best, in price, utility, and satisfaction. Way back in 1979, Michael E. Utility of alternative solutions.

article thumbnail

6 Tips For Combining Passion And Purpose To Stand Out

Startup Professionals Musings

Both ends of this spectrum fail to bring long-term satisfaction or success. I remember a classic book, “ The Purpose Effect ,” by renowned author Dan Pontefract, that provides a good framework and background or doing just that. I recommend his tips for creating and maintaining that sweet spot: Define a personal declaration of purpose.

Tips 174
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

5 Keys To Spending Your Time On The Right Work Items

Startup Professionals Musings

Every entrepreneur should consciously follow these five key actions and implementation tips, to compete and survive, as well as to get the personal satisfaction they expect from the lifestyle: Act on the important, don’t react to the urgent. Schedule the big rocks, don’t sort gravel.

Framework 153
article thumbnail

How To Make The Most Of Your DNA As An Entrepreneur

Startup Professionals Musings

His framework seems to be picking up some traction, and is already in use informally by several entrepreneurship platforms, universities, and even high school programs. But I see a real opportunity here for every entrepreneur to optimize his impact, and his personal satisfaction, with a minimum of effort.

article thumbnail

5 Key Initiatives Define The Ultimate Startup Leader

Startup Professionals Musings

The world is full of high-achievers and high expectations, but without the proper framework for turning entrepreneurial determination into real leadership accomplishment, you risk going nowhere. Work on the right characteristics, and think hard about those five key pivotal decisions that can make or break your satisfaction and your legacy.

Startup 141
article thumbnail

How To Incent Your Team To Find More Innovative Ideas

Startup Professionals Musings

They outline a simple process or framework for fostering team innovation, called FourSight, which is composed of four steps, capitalizing on the leader’s and other team member’s strengths and interests, that is consistent with my own experience in big companies as well as small: Clarify the situation. Marty Zwilling.

Ideas 123
article thumbnail

A Business Rebound is Not All Positive for Startups

Startup Professionals Musings

Porter proposed his Five Forces framework for analyzing the competitive environment which I think makes even more sense today. You are never the only alternative, hopefully just the best, in price, utility, and satisfaction. competition entrepreneur startup Michael Porter five forces framework business' It’s a painful end.

Startup 80