Monopoly Control

 
If all you do is match what your competition offers, you give your customer only one criterion on which to base their decision to buy from you – price. And that is a step into the commodity trap, a slow and painful death of lowering prices to get business.   
 
Enter the Monopoly Control concept.  This is all about competitive advantage.  As Michael Porter, a leading strategy thought leader and professor at the famed Harvard Business School states, ‘Strategy is about creating a unique and valuable position involving a different set of activities from your competitors.’ 
 
Whether they are 3rd party entities or an inside family member, buyers for your business will be looking for a unique and valuable competitive advantage in your services or products where they can control price and margin. This allows them to harvest income or reinvest in the business. A competitive advantage also reduces the risk for the buyer – and they will pay for it!   
 
In business, we want to dominate the market(s) we play in.  Too little clout leads to an undesirable 3rd, 4th or even lower position in the market where price plays too big of a role in the purchasing decision.  
 
Your strategy should be to shrink your target market and be the best in that niche through deep and wide differentiation.  Therein lies the power of monopoly control. 
 
Remember, the game of business ownership is to create wealth.  For most owners, that is the end goal – to create wealth, exit on their terms, and to ultimately empower the next generation of ownership.  Increasing value is not the end game.  It is about what you are doing today to drive value that in turn provides income today and options for tomorrow