Firebird Business Consulting Ltd. Saskatoon – Regina – Saskatchewan – Canada – Blog Site

What is your competitive advantage? – Firebird Businenss Consulting Ltd. – Saskatoon – Sask – Canada

What is your competitive advantage?  Would you say it is your “great service”? Service is an expectation not an advantage. Your competitive advantage gives you an edge above your competitors and will translate into higher sales and profits. Customer experience on the other hand is an advantage. Sometimes your competitive advantage comes naturally, while other times business owners have to work very hard to create it, maintain it or even find it.
 

Creating and understanding your competitive advantage takes work. Making sure that your business maintains that competitive edge is critical as it affects your overall sales, profits and perception in the market. Businesses that have a competitive edge lead their industry or market. It’s important to understand how long your competitive advantage will exist and what you need to do to maintain an edge over your competition. Always understanding and validating your market position and your competitive advantage is a necessity if you want to be competitive within your industry.

1) Who is your market? Age, demographics and psychographics are super important. Knowing who and why they buy your product or service helps determine your competitive advantage.

2) Size of your market? It’s important to know the overall size of your market. It could be larger or smaller than you think.

3) Competitors – Who are all your competitors? What services do they offer and at what price point? Where is your business in relation to that information? High, low or same? 

4) How strong is your competitive advantage? 

5) Price – are your products or services the cheapest or most expensive? If so, does the market understand why your business is at that price point? Are you at price point by choice? What action items does your business need to do to go in the direction of changing your price point?

6) Is your services and/or product(s) your competitive advantage? If the answer is yes, how so? Are you able to hold on to this position or is it easy for your competitors to simulate or duplicate?

7) People – do you have the right processes in place to keep, train and retain your people? 

8) Customer Experience – what do customers experience when purchasing your products or services? Are they willing to refer or recommend your business? Or even come back as a customer again?

9) Does the market understand your competitive advantage? Is it clearly defined within your organization?

10) Do you have strategies and processes in place to deliver your competitive advantage? Do economies of scale exist? Do you have efficient internal systems?

11) Location – is it an advantage or disadvantage?

12) Your Brand? – Competitive advantage or disadvantage? 

13) Does your marketing communicate your advantage in the/your market? What is the difference? 

14) Value and Benefit? What is the real value or benefit that your product or service offers? Does the market perceive this as true value?

Contact Firebird Business Consulting Ltd. to discuss analyzing your competitive edge. Our philosophies are about growing business. Not having a competitive advantage leaves your company vulnerable. 

Call or email to discuss setting up your 1 hour free no-obligation meeting or call.

The mission statement for Firebird Business Consulting Ltd. (business and management consultants) is to “commit and provide business owners a strategy to dominate and lead their industry for profitable growth”.

Firebird Business Consulting Ltd. has an excellent track record business consulting (coaching) with business of all sizes from start-ups to 100+ million plus annual revenue.

Our 1-on-1 personal interview style helps us to understand your goals and concerns. We help in sales and business development acting as your business consultant. Identifying your opportunities and risks going forward.

We consult and help you create a plan to meet your short and long term goals for your business. The key to your success is the execution of our/your plan.

For more information on our team, about us or our services go to: www.firebirdbusinessconsulting.ca

Rise from the ashes. Burst into flames and go to the next level with Firebird Business Consulting Ltd.

#NextLevel #Success #ConsultingConsultants #FirebirdBusinessConsulting#Saskatoon #yxe #GrowthSpeciaists #RevenueStrategists#BusinessDevelopment #Strategy #StrategicPlanning #Branding#BusinessPlans #BusinessConsulting #ManagementConsulting#SocialMedia #Advertising #WebsiteDevelopment #Saskatchewan #Sask#BusinessConsultants #Canada

Chair Profile: Roger Grona – TEC Canada – Saskatoon, Saskacthewan, Canada

Indigenous and Aboriginal Consulting Services

Give us a call and we can discuss what your company needs and what’s the scope of work needed to assess your market and potential?

When was the last time that you truly dissected your market? Or have you ever? Where does your company sit in comparison to your competitors? Understanding your industry and where it’s heading is vital to the success of your business. How is technology influencing your market? Who are competitors? What is the size of your market? How much market share does your company have? What are some buying patterns of your clientele and are they changing? What scenarios do you need to consider if the market changes? These are a few of the questions that we work on answering for your business.

A good solid market analysis combined with a sound business strategy will allow for sustainability and growth. Assessing your services and your competitor’s services and what trends are happening in your industry can help in determining where you are heading. We analyze your business along with you, discuss then what needs to be changed, what are your strengths and your company and industry risks. This will give you a good lay of the land and will help in determining how you need to market your company, how you need to build out your revenue model and what are some of the major and minor risks you are facing. Analyzing your competitor’s services and strength in the market compliments the gathering of information. We also discuss other markets and get an understanding what and how other businesses operate. This will help to compare how your business operates as well as maybe find a new service to add or a new revenue pillar, allowing for more revenue or a competitive advantage in your market.

FINALLY looking at other markets to consider prior to expanding into them. What are all your options? Should you even expand into those markets? Most times CEO’s / Business Owners / Entrepreneurs just go into a market because they think it makes sense. They truly don’t do a full assessment and a trip to the market to visually observe the market. Spending some time researching upfront can help avoid making costly mistakes by bad business growth. It’s harder to fix mistakes once you have committed and didn’t asses the market properly. Potentially you have hired new staff, entered into a new lease agreement, bought equipment etc.

Knowledge is power.

Give us a call and we can discuss what your company needs and what’s the scope of work needed to assess your market and potential?

After several years or a lifetime of hard work and dedication, many business owners struggle with succession planning. Do you know who the right people are to take over the business? Do you have a plan or buyers or a plan for succession? You may have trained people for years, who are capable to take over, but may not have the money to buy the business. Sometimes your ideal buyer is way closer than you think and you just can’t see it because you are so deeply involved in every aspect of the business you haven’t been able to look around. You may want to take money off the table, but probably still care about what happens after you’re gone.

We work with business owners to create a succession plan where the exiting owner is paid a fair value while the existing management become our partners. We work with the new management team to continue driving the business forward and often times, use revenue from the business to pay out the owner while creating a successful exit without giving up your legacy

Selling a business or passing it along to family is truly a process, not an event. If your succession plans is in place within your company already, we work with you on getting those individuals ready to take over the business. We discuss all your options in succession of your business. Is it a family member? Employee? Outside party looking at acquiring a partial or full interest in the business? What are the current roles of everyone involved and what would the new roles and responsibilities look like.

Firebird Business Consulting Ltd. helps everyone involved achieve the ultimate goal of transition. Is capital going to be required? If so, how much is needed? We can discuss traditional finance options and work with you and your current financial partners or, we can connect you the right type of investment partner to provide the capital needed.  We have established relationships with other non-traditional options to raise capital.

Planning well in advance of a business changing hands will help the transition go as smoothly as possible. We have the business consulting experience to help prepare the business for this transition or sale while keeping the right people in place to continue operating the business.

Succession Planning takes time and usually 1-2 years to fully materialize. Sometimes quicker and other times longer depending on multiple factors. A good succession plan will create a win for all parties involved. The people that want to exit can and the people that want to carry on the new ownership can. Or maybe it’s about the current ownership finding a way to stay involved but in a different way with different responsibilities.

A good succession plan will make the company stronger, not weaker. It’s about the plan and working all the scenarios. We have experience in restructuring business and executing solid succession plans. Succession won’t happen on its own, and if no planning or due diligence is done it can make for a much more challenging situation. Companies that don’t plan for succession end up eventually folding with no chance of continuing on.

Contact Firebird Business Consulting Ltd for your one hour free no-obligation meeting and see if it makes sense for us to work together on your succession plan and strategy.

Our 1-on-1 personal interview style helps us to understand your goals and concerns. We help in sales and business development acting as your business consultant. Identifying your opportunities and risks going forward.

 

Appreciate the people that help you and have helped you. Back in the day I had an amazing mentor his name was Louis Dupuis. For those of you who don’t know, Louis was one of the owners (with his brother Gene) of Prairie Meats, a very large successfully family ran butcher shop in Saskatoon. My company that I was at the time CEO of Buffalo Bill’s Food Products Ltd was a customer of Prairie Meats.

I looked and interviewed many places to manufacture our products before settling into an agreement with Prairie Meats to manufacture our product. It wasn’t just the customer service and product that I was impressed with, it was the business knowledge of the owners of Prairie Meats. 

Louis would invite me into his office and we would sit and visit, anywhere from 2-4 hours a week. We would talk sales, the market, operations, marketing, economy and everything else associated with business. I learned a lot from our discussions. He was one of the smartest guys I ever knew in business. He told me how Gene and him had grown their business, their risks, the ups and downs and their successes. I enjoyed listening to his stories about being an entrepreneur.

I asked him one time why he gave me all that time? He said he enjoyed the conversations and one of the last things he ever said to me (I will never forget it) was,”Kid – you know how to work and your doing the right things, keep doing what your doing, never give up on what you want to do!” As much as I valued our conversations at that time, it wasn’t until my late thirties and early forties that I truly appreciated the value of those discussions and how much they forged my desire to be better at business.

Louis passed away when in 2006 when I wasn’t living in Saskatoon. To this day I volunteer on quite a few boards and try and help the upcoming entrepreneurs as much as I can….just as Louis shared his stories and lessons with me.

Rest easy my friend – thank you for all our chats 🙂

Expecting things to change without putting in any effort is like waiting for a ship at the airport

www.firebirdbusinessconsulting.ca

Rise from the ashes. Burst into flames and go to the next level with Firebird Business Consulting Ltd.

#NextLevel #Success #ConsultingConsultants #FirebirdBusinessConsulting #Saskatoon #yxe #GrowthSpeciaists #RevenueStrategists #BusinessDevelopment #Strategy #StrategicPlanning #Branding #BusinessPlans #BusinessConsulting #ManagementConsulting #SocialMedia #Advertising #WebsiteDevelopment #Saskatchewan #Sask #BusinessConsultants #Canada #UnitedStates

Never give up. Great things take time

www.firebirdbusinessconsulting.ca
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Rise from the ashes. Burst into flames and go to the next level with Firebird Business Consulting Ltd.
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#NextLevel #Success #ConsultingConsultants #FirebirdBusinessConsulting#Saskatoon #yxe #GrowthSpeciaists #RevenueStrategists #BusinessDevelopment #Strategy #StrategicPlanning #Branding #BusinessPlans #BusinessConsulting #ManagementConsulting #SocialMedia #Advertising #WebsiteDevelopment #Saskatchewan #Sask #BusinessConsultants #Canada #UnitedStates

We are always proud to promote our partners…..

Check out FBV – Firebird Business Ventures Ltd.

Firebird Business Ventures Ltd – business incubator – business accelerator – partnerships – shareholder – investor and opportunities in equity partnerships.

Firebird Business Ventures Ltd. management consulting services (consists of 6 investors/owners who are all directors – 5 of the owners make up the Senior Management Team) helps manage by creating a plan for growth and long-term sustainability. This is done by having an invested interest and partnership in the business. This invested interest and partnership can consist of providing direction at a CEO level, Business and/or Management Consulting, Marketing, Sales or a Financial Investment depending on the business opportunity.

Roger Grona is Chair for TEC Canada (The Executive Committee) Saskatoon. This is a true honor and privilege to work with such a great organization.

Roger is very proud of his Metis heritage. His ancestry is traced back to the 1700’s in the Red River Settlement. He is an Entrepreneur, Business Consultant, Investor and CEO. Roger is the Founder and CEO of Firebird Business Consulting Ltd. Founder, Business Partner and CEO of Firebird Business Ventures Ltd., Investor and Business Partner(ed) in Rethink and Diversify Securities Inc. Venture Market (online exempt market portal), Hall of Fame Coaching (HOF), Aslan Capital Saskatchewan Inc. and a very minor investor in Holmes Approved Homes. Roger is also a Chair for TEC Canada (The Executive Committee).

#NextLevel #Success #ConsultingConsultants#FirebirdBusinessConsulting #Saskatoon #yxe #GrowthSpeciaists#RevenueStrategists #BusinessDevelopment #Strategy#StrategicPlanning #Branding #BusinessPlans #BusinessConsulting#ManagementConsulting #SocialMedia #Advertising#WebsiteDevelopment #Saskatchewan #Sask #BusinessConsultants #TecCanada #Chair #TEC #TheExecutiveCommittee