Steve Marr Blog

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Category >> Strategic Planning
Jan 07
2015

Location Market Research

Posted by Steve Marr in Untagged 

Real estate investors know the value of location, location, location. Retail business owners also understand the value of location. Paying a specialist to research location is very expensive. Picking the wrong location is even more costly. When business leaders on a limited budget how ask me how to locate their business, I suggest they follow the Burger King system.

Jan 02
2015

How Do You Compete?

Posted by Steve Marr in Untagged 

You may believe that you compete for customers very well at every level. Often this is a myth. You need to establish your Unique Sales Proposition, or USP. You can read my earlier article here: http://bit.ly/1yodS7C. Generally, you compete based on price, quality or service; but not all three at the same time.

“Scott” was an extraordinary wood worker. He could take damaged wood furniture and antiques and make everything incredibility beautiful. I have never seen anyone provide better quality in furniture repair. However, he was expensive, 2 or 3 times more than others. And he would take his time so service was slow. If your dining room table was damaged, he would do the best job; but don’t expect to serve dinner on your repaired table next week. Customers who want a better price or faster service will go to his competitor.

Dec 31
2014

Entry Barriers to a Business

Posted by Steve Marr in Untagged 

I received a question from “Walt” who wanted to start a delivery service to elderly people. Walt thought he could target older folks who had difficulty getting out. My first question to Walt was “What would be the barrier to prevent competitors’ entering the market if you were successful?” This is a key question to answer when starting a business. The lower the barrier, the easier others can imitate you.

Nov 07
2014

Would You Give Up Equity For Startup Help?

Posted by Steve Marr in Untagged 

A new business tends to be short on cash. Perhaps the idea is great, but the owner lacks business skills or marketing ability. Many new businesses can’t afford the expense of hiring a marketing guru or business expert. 


One way to address this is to exchange business equity in return for a stake in your business. While this exchange may see seem counter intuitive, it could make an appreciable difference for a startup. For example, if the key to a startup is marketing; offering 10% ownership in your business may be attractive to an expert. The idea is to identify the skill and expertise you need, the one that requires time you don’t have.  Then, instead of paying cash, offer some equity in the business. Many owners may not understand the value others can provide, but the marketplace does.

Nov 05
2014

Internet Radio Threatens Local Stations

Posted by Steve Marr in Untagged 

Businesses change. Models that worked in the past will no longer produce profits while innovative ideas will. Radio is an excellent example of how change has altered the medium. About fifteen years ago, I served as temporary operations officer of a Christian Radio network. In addition, I syndicated a radio feature, Business Proverbs on over 1,200 radio stations worldwide. This background has provided me with insight into the future of radio.