Dear Book Club Attendees,
Thank you again for participating in our inaugural Business Book Club Discussion meeting. I enjoyed being the moderator for this interesting and diverse group!
The meeting was a wonderful opportunity to hear how the changing competitive landscape is affecting each and every one of you and your strategies to stay competitive.
A recap of some of the key points of the meeting:
· To stay competitive, your business needs to be well managed and financially healthy (many marginally run businesses have gone out of business)
· Failure of competitors has created opportunities for others and neutralizing (somewhat) overbearing buyers (i.e. auto parts industry)
· Technology advances has eased the barriers for individuals to compete globally – still critical to make a “connection” in your business (people like to do business with people)
· Extend your network of business contacts/referrals – use a variety of techniques, such as, professional networking organizations, LinkedIn, Facebook or other technology tools
· Be an “expert” in 3 things – keep it simple, but current
· The changing competitive landscape is requiring new business skills: Collaboration, Ability to Synthesize, Coordination, Direct/Specific in Communications and Ability to Translate Needs.
Lastly, as a closing statement, remember when we were children we needed to “clean our plates” because there were children in developing countries that were starving. Now we need to do our homework, because there are children (or adults) ready to do our jobs!
Sincerely,
Sue
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