Entrepreneurship – from ideas to reality
Entrepreneurship – from ideas to reality

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Entrepreneurship – from ideas to reality

3.2 Returning to the competition

Earlier you looked at demographic factors, the shape of the market and how people compete. Clearly the maturity of the market, the size and number of the competitors and the dimensions on which competition takes place all shape the market.

Some have suggested the need to add in to this view products or services that are compatible with or complementary to those you offer. For example, there is a synergy between cars and the insurance industry that has an impact in each market.

Activity 6 What kind of organisation do you want to develop?

Timing: Allow about 5 minutes

Consider what kind of organisation you want to develop. Using the analogy from music below, what kind of band do you want to be?

  • Playing to a small but loyal audience who love your music
  • Loved by the critics with ‘decent enough’ sales
  • Loyal to your fans and you would never sell them out
  • Playing to 3000 plus, on TV, next stop Glastonbury
  • Like The Stones – huge and still rolling on
  • Beyoncé.
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