5 slides strategy- How to find gap in the marketplace?
5 slides strategy
Most of the people & businesses tend to perform better when they are challenged.
In his book “the real-life MBA” author Jack welch narrates a wonderful strategic tool called 5 slides.
While making the strategy, use this tool to your advantage.
First slide of 5 slides method
Provide the assessment of the current competitive scenario, who are the competitors, their market share, SWOT etc.
Most businesses undermine their competitors… I recall a senior corporate leader who used to tell me – “good for them- they are selling so cheap; they will run out of the business soon”.
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Infact strategy demands a re-look at the costing structures in order to make the similar product more cost competitive.
Second slide of 5 slides method
Include all the activities that your competition has done during past 3 months.
Third slide of 5 slides method
Mention what activities you have done as a business during the same period.
Fourth slide
what is worrying you or which product or aspect of your competitor is a cause of concern for your business. Are your competitor getting funded for their expansions etc.?
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Fifth slide –
Identify what niche or gap do you see in the market at point of time which is more like a AHA.. moment. What do you need to achieve your mojo back.
I believe this tool came as an eye-opener to me and it really addresses the entire competitive strategy and environment in just 5 slides.
Personally, I have become a fan of this tool.
In case you are looking to developing your brand strategy and need an outsider expert”s viewpoint. You now know who is your “Go to Person”.
Retailers who want to grow and scale their businesses and need a helping hand to make their vision into reality may reach out to me directly by mailing me at riteshmohan@yahoo.com
I help retailers & businesses with :
- Sales training,
- location scouting and analysis,
- product launch strategies,
- new product development and market studies,
- retail operations & SOP development
- Ecommerce strategies and
- franchising infrastructure development.
