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This whitepaper is the third in a series entitled “Pillars of Success” by Bill Warner.

To have a winning business, you must have a winning product or service. Well, DUH!! That’s pretty profound.  It’s a simple concept, but it’s quite hard to actually accomplish. To have a winner, your business has to have a product or service that is focused on an attractive market segment, solve a well understood customer problem, have a financially compelling value proposition, be differentiated from your competitors, be effectively distributed, have excellent quality and be supported by outstanding customer service.   That’s a mouthful, but every single aspect of a winner has to be in place in order to succeed in today’s economy, which is now populated with very selective buyers who have a broad range of choices and not much money to pay for anything.  

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This whitepaper is the first in a series entitled Pillars of Success by Bill Warner:

Whether you are starting a new company, launching a new business initiative or spinning out a company, the first and most important thing you must do is know your business. I think there are two constituencies that you have to convince, other than yourself. First, you have to know your business concisely enough so that you can quickly explain it to your mother, so that she understands it. The second is you have to comprehensively explain it to potential customers, employees, partners and sophisticated investors so that they are convinced it’s an attractive business to be associated with. If you can do this successfully, you understand your business.

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