A related article…  Do you feel that fear of failure can effectively motivate?

The @GKWCC #P2P series of thought tweets contains ideas, quotes, & suggestions provided by local business leaders at "CEO Peer-to-Peer" group meetings, sponsored by the Greater Kitchener Waterloo Chamber of Commerce.

The goals of the thought tweets: to help local business leaders and to promote the sharing of business thoughts.

The thoughts expressed are not opinions of the Greater Kitchener Waterloo Chamber of Commerce...they are opinions of local business leaders who are Chamber members and participate in the Chamber's CEO P2P program.

Some time ago I took a Marketing course and learned about the Price-Quality-Service Triangle [PQS Triangle].

In summary, we were taught a company could provide one or two of these 3 things, but not all three.

What's your business capable of doing?

• Providing lowest Price?
• Providing highest Quality?
• Providing best Service?

We linked the PQS Triangle to Differential Advantage by creating "PQS + DA"...a simple tool to help people hone in on the differences [their clients would perceive] and the advantages [their clients would receive]. That lead to the following 1-Page Tool:

It became clear that few companies can offer the lowest price and survive. So, we "x-ed out" Price as an option...helping our clients focus on Service & Quality...the only 2 options for delivering value to their clients.

Now, we have made another update. We have flipped the PQS Triangle upside-down and precariously balanced it on 2 foundation pieces: Insight and Relationships. 

This picture summarizes the business-development advice we provide to clients:

• Do not compete on Price...for 99% of business a lowest price strategy is a recipe for disaster...find other ways to provide value in the form of Service or Quality or both
• Identify the specific Differences your clients will recognize in your Services or Quality or both
• Identify the specific Advantages your clients will receive from your Services or Quality or both
• Build Relationships with your clients, multi-level if the client makes purchasing decisions by consensus
• Create and deliver Insights of value to your clients

Thought Tweet #678 A leadership mindset generates constructive behaviour...creating, evoking, and building on great ideas.

The Thinking Behind The Tweet

Great ideas contain intangible potential: only in the hands of great leadership teams can that potential become reality.

About thinking.