Every business operates within its distinct terms of engagement, akin to the regulations that govern any society. While investors are pivotal for business expansion and startups, it is crucial to recognize that consumers also serve as investors in your business. Our world is regulated by laws instituted by governments, which, in turn, establish policies that delineate the terms of engagement for businesses within their society, ultimately fostering societal growth and advancement.
Analogous to how laws govern society, investors wield significant influence in delineating the rules of engagement for your business. As a business owner, it is incumbent upon you to govern your business, with the society engaging with your business in exchange for taxes. Grasping the dynamics of your business entails identifying its position. In this world, everyone is a participant in a marketplace endeavouring to satisfy their fundamental human needs and aspirations. Investors seek a return on their investment, consumers strive to fulfil their wants and needs, and your business serves as the solution.
When contemplating the placement of your business, it is beneficial to explore the concept of Red Sea and Blue Sea markets. Red Sea markets are characterized by intense competition and entrenched business practices, while Blue Sea markets are typified by innovation, unique business models, novel terms of engagement, and a smaller number of investors and customers.
As a business owner, it is imperative to ponder the positioning of your business and meticulously weigh the advantages and disadvantages of each market to determine your terms of engagement.
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