1. The people behind the product or service are usually a bigger success driver than the product itself (and should be treated as such).

2. Regardless of success, loyalty, or reputation the threat of substitution for any product or service is real and can happen without notice to businesses as it’s the buyer or supplier that has the power. This is why businesses need to not only focus on doing what they currently do better, but explore new opportunities that will add value to their consumer base while also monitoring the power of the supplier and buyer in what you deliver.

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