Section 7: Competitive Analysis & Strategy
McMullen’s Rule: Have an Exit Strategy
- Develop a better Mouse Trap
- You don’t have to be perfect, just better than the next best alternative, based on the market’s most valued needs
- McMullen’s Rule: Have an Exit Strategy (why are you in business)
- Have an intimate understanding of the market (your potential customers) alternatives
- Work towards developing “Revenue Certainty”
- Pick a Growing Market
Boston’s Rule: It is better to be in a good market than be a good operator because you can always improve your operation.
Please find a fillable PDF Strategic Business Plan below