What Forces Drive the Competition in the Industry? The author of this article shares his thoughts on the book, Competitive Strategy: Techniques for Analyzing Industries and Competitors. This was a book he had read sections of during his university days, but this time around, read it with a new vantage point considering his education and experiences since then; particularly in the business valuation field. He notes that Porter reminds the reader of an important question: “What forces drive the competition in the industry?” and observes in the litigation reports this question is often not addressed. This is a potential problem…
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How to Make Pricing Your Competitive Advantage This article is a follow up to the author’s April 2021 QuickRead article: “Here is What Prospects Believe About Our Pricing.” The lesson by the author is that prospective clients believe what the professional believes about pricing. If the professional believes that the price is too high, so will the prospect. If the professional believes that the price is a bargain for the value created, that professional is communicating that belief to the prospect. This article describes the choices the valuation professional faces in terms of pricing and how to make pricing a…