In the world of consulting there is a wonderful, "magical" term known as Porter's Five Forces. For many entrepreneurs this term carries little meaning, but it could make a fundamental difference in how well you are able to analyze the industry your are entering or are already in.
To keep my posts as short and meaningful as possible I'll break the forces up and instead address them in a series of posts.
What exactly is Porter's Five Forces?
Porter's Five Forces is a framework used in the analysis of industries and the development of business strategies. An unattractive industry or business strategy is one in which profitability is collectively brought down by the Five Forces. In the following posts, I'll address each of the Forces, so stay tuned!
The image below illustrates the model.
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