Sellability Driver 6 of 8: The Monopoly Control
The Monopoly Control speaks of your business having control in pricing the product, not being commoditised, and there is a differentiated marketing proposition.
Video Transcript:
The monopoly control is an attribute of sellability that means you’ve got control over how you price your product. You’re not being commoditised essentially because you’re unique and different on market place. You’ve heard warren buffet, the famous investor talked about this idea of having deep and wide mote around your business, he’s referring to the idea that the investing companies that have a differentiated marketing position, a lot of investors look for companies that have a differentiated proposition because that gives you the ability to control your pricing. The more you control your pricing, the more margin you make, you can invest in sales and marketing, and it triggers this nice domino effect, that enables you to stay different in the marketplace. The more different you are, the more control you have with your pricing.
The way you can improve your score in the monopoly or control, is to really scrutinise the way you’re marketing your business through 2 lenses, because a marketing strategy has 2 attributes, it has to have meaning to the customers, and has got to be different. So scrutinising all the messages you have in the marketplace, look at your website, the side of your van, however you communicate to your market and say, does this make us different, and the customers care. Those are the 2 drivers that drive up your monopoly score.
Find Out More Of the Sellability Test:
- About The Sellability Score
- Sellability Score: Why Your Score Matters
- Sellability Driver 1: Financial Performance
- Sellability Driver 2: Growth Potential
- Sellability Driver 3: Switzerland Structure
- Sellability Driver 4: The Valuation Teeter Totter
- Sellability Driver 5: The Hierarchy of Recurring Revenue
- Sellability Driver 7: Customer Satisfaction
- Sellability Driver 8: Hub & Spoke
