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11 Ways To Find A New Direction: Part 8 - Start Thinking In Three Dimensions

Jun 12 2014, 3:18am CDT | by

If you are feeling stuck for new directions, here is a simple way of moving from one dimensional to three dimensional thinking. Any business competes on one or more of three dimensions. These are...

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7 weeks ago

11 Ways To Find A New Direction: Part 8 - Start Thinking In Three Dimensions

Jun 12 2014, 3:18am CDT | by

If you are feeling stuck for new directions, here is a simple way of moving from one dimensional to three dimensional thinking.

Any business competes on one or more of three dimensions. These are:

  1. Product and price – what you offer, and the price relative to competing sources;

  2. Service – how easy you are to deal with, which covers things like your opening hours, your location, how good you are at keeping things in stock, how rapidly and reliably you deliver;

  3. Relationships – this may be personal relationships in the case of private bankers or hairdressers, or it may be brand (brand consultants like to talk about brands as the customer’s “relationship with the product”).

The process is quite simple. The first step is to identify which dimension you currently focus on. Are you striving to be the lowest-cost, or to have the widest range? That is the first dimension. Or do you work on being easy to deal with, investing in customer service and the logistical capabilities you need to deliver rapidly and reliable?  That is the second dimension. Or do you focus on building and maintaining customer relationships and powerful brands? That is the third dimension.

Now; whatever you are doing, focus on a different dimension. If you have been striving to offer the lowest price and that hasn’t been working so well, consider raising prices and investing in customer service. If you have been spending money maintaining relationships and brands without seeing  a great return, consider the possibility that your customers care more about low prices.

Doing this will produce a whole range of alternative possibilities. Some will be absurd, but one could be a breakthrough.

For the next part of the series, follow me here or use your RSS reader to come back next week. For previous parts, see the links above.

Alastair Dryburgh is author of the forthcoming Evolve: Free Yourself From Your Inner Caveman.

 
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10

7 weeks ago

RM47mil KWSG contributions still unclaimed

Jun 9 2014 7:54am CDT | Source: Business Times Malaysia

KUALA LUMPUR: About RM47 million of contributions in the Teachers Provident Fund (KWSG) still remain unclaimed, the Dewan Rakyat was ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
9

7 weeks ago

Gold shop lost almost RM1mil

Jun 9 2014 3:50am CDT | Source: Business Times Malaysia

KANGAR: A gold shop owner lost almost RM1 million after after the safe on in his shop was broken into ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
8

7 weeks ago

Motion to debate MAS losses in Dewan Rakyat rejected

Jun 9 2014 3:39am CDT | Source: Business Times Malaysia

KUALA LUMPUR: AN emergency motion to debate the losses incurred by Malaysia Airlines last year, amounting to RM1.2 billion was rejected by ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
7

7 weeks ago

MH370 Tragedy: Hisham: RM27.6 mil spent on 1st phase of SAR

Jun 9 2014 2:11am CDT | Source: Business Times Malaysia

KUALA LUMPUR: Malaysia spent some RM27.6 million in its first phase of the search operations for missing Malaysia Airline flight MH370, said Acting Transport Minister, D ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
6

7 weeks ago

9.1m litres of diesel seized in a month

Jun 8 2014 1:11am CDT | Source: Business Times Malaysia

PUTRAJAYA: The Domestic Trade, Cooperatives, and Consumerism ministry has seized some 9.1 million litres of diesel and property worth RM58 million since mounting ‘Operasi Diesel Selatan’ in the southern ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
5

8 weeks ago

Girl, 9, awarded RM2.78m compensation for medical negligence

Jun 6 2014 4:56am CDT | Source: Business Times Malaysia

KUALA LUMPUR: A nine-year-old girl who suffered brain damage during her birth at a government hospital was awarded over RM2.78 million in compensat ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
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4

8 weeks ago

Malaysia's total trade in April up 12pc

Jun 5 2014 11:52pm CDT | Source: Business Times Malaysia

KUALA LUMPUR: Malaysia's total trade in April 2014 rose by 12 per cent from a year ago to RM123.86 billion due to growing trading activities, International Trade and Industry Minister Datuk Seri Mustapa Mohamed ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
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3

8 weeks ago

Works Ministry to spend RM20m for upgrading works at 50 accident black spots

Jun 4 2014 11:35pm CDT | Source: Business Times Malaysia

JOHOR BARU: The Works Ministry will implement upgrading works at 50 accident prone locations in the country that have been identified this year involving an allocat ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
2

8 weeks ago

Najib launches loan scheme for Ramadan traders

Jun 4 2014 10:24pm CDT | Source: Business Times Malaysia

PUTRAJAYA: Prime Minister Datuk Seri Najib Razak today launches RM45 million Ramadan Bazaar Sc ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
1

8 weeks ago

Residents bring up objection against Kidex to Suhakam

Jun 4 2014 4:49am CDT | Source: Business Times Malaysia

PETALING JAYA: A group of 20 Petaling Jaya residents held a meeting with the Human Rights Commission of Malaysia (Suhakam) over their objection against the proposed RM2.2 billion Kinrara Damansara Sk ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 

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