Barriers to Entry

When surveying the market battlefield, it is critical that both competitors and market alternatives are evaluated. Of course, you're thinking, we do this every three years at our strategic planning retreat. Or, maybe you run one of those businesses that do it annually.

Well, that's is not near enough.

Change is now occurring in the various business marketplaces at an unprecedented rate. Regardless of your industry, not only was it less expensive for someone to enter your business ten years ago than it is today, it is also true that even the most basic of business services are less expensive today than they were just one year ago. If you want be prepared, you should be conducting, at a very minimum, a quarterly evaluation of your market competitors and the alternatives.