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Putting A Moat Around Your Business The Michael Porters Way
Manage episode 436784916 series 3554546
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This Week we kick things off with a personal anecdote about a recent treacherous road trip, setting the stage for a deeper discussion on the state of infrastructure. Claire and her co-host reflect on how deteriorating road conditions have become a growing concern, impacting even short trips.
The conversation then shifts to a shocking news story: British Airways has stopped flying to Beijing, one of the world's largest economies. The reason? Sanctions on Russia mean European airlines can no longer fly over Russian airspace, resulting in longer, more expensive flights. Claire explores the business implications of this, revealing how these sanctions are inadvertently benefiting Chinese airlines, which continue to fly over Russia. This has led British Airways to partner with China Airways to service the route, effectively shifting British business profits to China.
In this week's deep dive Claire introduces the concept of Michael Porter's "barrier to entry," a framework that can help small businesses become more profitable and saleable. She explains how businesses can create competitive advantages, such as capital outlay, cost savings, regulatory protection, and market access.
The episode wraps up with a recommendation for the "Acquired" podcast, which delves into the stories of major companies like Nintendo, Sony, and Starbucks. Clare and her co-host share their favourite episodes and discuss the valuable business insights they've gained from listening.
Don't miss this episode filled with practical advice, intriguing news stories, and valuable recommendations to help you grow and protect your business.
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ABOUT THE HOST:
Claire Hancott through Profit Cash Growth helps 6 & 7 figure business owners to increase their profit, improve their cashflow and grow their business using their numbers.
As a finance director & chartered management accountant, Claire has nearly 20 years’ experience in finance and running businesses of her own. This gives her a unique insight into the information and support business owners need to grow a financially successful business.
Claire passionately believes that every business should be run by the numbers because the numbers in your business are telling you a story about what is and isn’t working and where your opportunities lie. Claire’s mission is to provide insightful management accounts, reports and advice to business owners and support them to make smarter decisions.
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