High profile venture capitalist Mark Cuban once noted the importance to him of three factors in assessing the attractiveness of a business for investment. Those three factors were: The size of the market. The competitive advantage The management understanding the ‘customer owns their ass’. Like Pay-Pal co-founder Peter Theil, Cuban highlights the importance of targeting the smallest possible […]

High profile venture capitalist Mark Cuban once noted the importance to him of three factors in assessing the attractiveness of a business for investment. Those three factors were: The size of the market.The competitive advantageThe management understanding the ‘customer owns their ass’. Like Pay-Pal co-founder Peter Theil, Cuban highlights the importance of targeting the smallest possible market – a market you can truly understand and own. Like Michael Porter from Harvard Business School, Cuban stresses the critical role of a strategic competitive advantage in driving revenue up and costs down. Understanding that the business’s success is intimately tied up with the capacity to meet and exceed consumer expectations is well recognised. Ultimately, it focuses on understanding, and addressing the needs, wants, and expectations of consumers that drive the success and value of a business. Being truly client-focused is central to maximising the value of all businesses. Critical factors in this regard include: Identifying the smallest…