August 23, 2005

Tips for getting a winning edge

Jason Caplain, a partner with Raleigh, NC (USA)-based Southern Capitol Ventures, shares a list of "exceptional strategies implemented by some of our portfolio companies and others in the market to give them an advantage over their competition":
1. Service your competitor's customers when they have problems

Are some of your prospects using the competition, but they struggle to get help when they need it most? Offer your assistance at this pivotal time. Furthermore, tell them to call you anytime. Eventually, they will bring their business to you as they realize that you are readily available and your competition is not.

7. Work with partners, not service providers

Think of all the people you work with: lawyers, accountants, bankers, etc. Are they thinking about just the tasks you give them or are they thinking about you and your company? There is a big difference. A lot of local firms with help make introductions to potential customers, employees, partners and venture capitalists. It helps when they are always thinking about how to grow your company and can offer that kind of assistance and commitment to your company.