What is your business latency and potential?
Archive - Originally posted on "The Horse's Mouth" - 2006-03-06 09:23:21 - Graham EllisWhat proportion of your market are you capturing? What proportion are going to your competitors? What proportion are making do with a less-good substitute product and what proportion and simply not using any product?
I was listening to Alison Forster, Managing Director of First Great Western - the train company that runs all services westward from London and local trains too from 1st April, and some comments she made on this struck me.Alison told her audience that for every passenger travelling on her routes, ANOTHER one and a half would do so if only they knew about the service and could be attracted to it.
Well House Consultants is based at Melksham in Wiltshire - not an obvious location for Open Source training, and yet we're rushed off our feet at times and when we're quiet it's because we've been short of marketing time - I would guess that in our business, our ratio is at least 1 to 1 and I'm looking there to new customers and not customer stolen from elsewhere.
Last week, I looked to make a last minute booking into a business hotel in Abingdon. "Hotel full" all over the place - checking the web site of one of the companies with hotels in every major town, they were full in Abingdon and in Newbury and in Oxford and in Reading - the best they could offer was Aylesbury. I don't know what their latency was, but it sure as heck was high!
Which looks very, VERY good for Well House Manor - I can foresee that we'll be providing services into markets with the capacity to grow and where there will be a shortage of exactly the products that we know and specialise in providing.