The Sweaty Startup 418: How to not compete on price again
10 snips
Jan 23, 2025 In the fast-paced on-demand economy, speed is everything. Competing on price is a losing game; instead, businesses should focus on same-day services to stand out. Data analysis plays a crucial role in predicting customer demand and optimizing operations. Case studies from home services highlight how faster delivery leads to greater customer satisfaction and increased revenue. Strategic hiring and resource allocation can transform service delivery, giving companies a competitive edge.
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Compete on Speed
- Compete on speed, not price, to avoid the race to the bottom.
- Offer same-day service to gain a competitive edge and charge higher prices.
On-Demand Future
- The on-demand economy is expanding rapidly, with increasing customer impatience.
- Soon, most services will be available on demand at the push of a button.
Pest Control Example
- A pest control owner gradually hires crews as his lead time grows to two weeks.
- This safe approach misses potential customers seeking immediate service.