4/23/2021 Tip: What Exclusive Partnerships Do You Have?

Today’s Quote

“There’s no shortage of remarkable ideas, what’s missing is the will to execute them.”
~ Seth Godin


Today’s Tip

This week, as you know, I’m giving you examples of business assets you can build to dominate your competition.

Today’s asset is Exclusive Partnerships.

Creating exclusive partnerships could be a key business asset that gives you competitive advantage. 

For example, if you create exclusive partnerships with top organizations in your industry, they would only work with you and not your competitors. 

For example, let’s say you and a competitor both serve the senior market. But you have an exclusive relationship with the AARP whereby they only promote you, and not your competitors. With 38 million senior members, your AARP relationship would give you considerable advantage.

What partnerships can you create to improve your company’s success?


Today’s Resource

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Today’s Question: The name of what popular ice cream was named from two made-up words that were meant to look Scandinavian to American eyes?

Previous Question: What company that was the fourth most valuable brand in the world after Disney, Coca-Cola and Microsoft as recently as fifteen years ago filed for bankruptcy in January 2012 having failed to adapt to the digital age?

Answer: Kodak.  During most of the 20th century Kodak held a dominant position in photographic film, and in 1976 had a 90%    market share of photographic film sales in the United States.

Beginning in the late 1990s, Kodak struggled financially as a result of the decline in sales of photographic film, and 2007 was the most recent    year in which the company made a profit.

Kodak is one of many companies that have struggled as a result of technology changing what customers want to buy.  This change is inevitable and can become your friend if you are proactive about adapting to it.

What opportunities to adapt do you see in your business?

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