October 31, 2014

Sniffing for Market Share

I've already talked about how this is a good time of year to work on the Personal Experience Factor of your business if the holidays aren't your busy time.

So…how do you actually go about deciding which improvements to make in your store, office or shop?

There are hundreds of ways to evaluate your PEF, and taking a global look at it will likely put you in paralysis by analysis. Yet, there's no better or direct way of grabbing precious market share away from your competitors.

Want a shortcut?


Come to your 5 senses!

What I mean is simplify the process by using your senses to rank competitors and look for opportunities and vulnerabilities. Make yourself a simple chart with the 5 senses across the top and your list of competitors along the side. Be sure to save ample room to make notes in your grid.

Now, go to your competitor's locations and have a look around. Make mental notes around the 5 senses.

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The rest of the Pret A Manger story

PretbreadIf the CNN story in the previous post got you interested in Pret A Manger, check out their web site. Holy cow. These people are serious about their business and it’s quality. And they say so with no uncertainty or big corporate-speak. I like these people.

I’m heading to NYC next week, and Pret A Manger is on my to-do list.

From their “Good Jobs for Good People” page:

We employ many different nationalities, and value the cosmopolitan feel this gives the company.

Twice a year, we throw a massive party. Some have passed into Pret legend. Everyone at Pret is invited.

We have an in-house ‘ideas department’. Postage paid ideas cards and prizes are reviewed each month. There are thousands of bright ideas that could help Pret be a better, kinder, easier place to work and shop.