Business strategy is such a great and useful process that without proper strategy nobody can develop any business. You have to build several business strategy in every steps of your business. Entry Barrier is one of the most important and viral point for any business to make it free from killing competition in the market. So, what is Entry Barrier Strategy? It is seen every where that if someone developed a business (example: specific sweet business), with high quality products, good price and very testy with his special recipe and achieved a good popularity in his local area in very short time. What happen next – another tens of peoples start the same business with the same products and with the same name. In this case the first start person get losses in his business and even he has no way to protest it.
In this case, either he has to sell his products with discount, or quit from the business and try to divert in another products. In this stage, Entry Barrier Strategy is very very important to prevent this problem.
You may heard that Licencing and Patenting for business and those are most important factor to make secure your business. In developed country, it is mandatory to get Licencing and Patenting Certificate so that nobody can copy his business.
In developing country, nobody thinks about that. And most shocking thing is that most of them don’t know about that certifications. So, to protect your business, either your are in startup stage, initial stage, mid stage or doing business in well position, immediately collect proper licence and patent for your business that will create Entry Barrier to your unique business. Nobody will be able to copy your business or you can take legal action for those who are trying to copy your unique business. Entry Barrier Business Strategy can protect your own invented unique business in your market and do Monopoly business in your field.