Porter's Five Forces: Unlock the hidden potential of your career

How to Apply Porter's Five Forces to Your Career Strategy:

>>Threat of New Entrants:

Identify Barriers: List what makes it hard for someone new to enter your profession.

Leverage Experience: Use your experience and skills as a moat to protect your career position.

>>Bargaining Power of Suppliers:

Assess Your Sources: Think about where you get your professional training and knowledge.

Cultivate Relationships: Build strong connections with educational bodies to keep your skills in demand.

>>Bargaining Power of Buyers:

Understand Your Worth: Know how your unique skills affect what employers are willing to offer you.

Navigate the Market: Stay informed about market demands to negotiate better positions and salaries.

>>Threat of Substitute Products or Services:

Spot Substitutes: Be aware of other skill sets that could replace yours.

Differentiate Yourself: Develop and highlight skills that set you apart from the crowd.

>>Rivalry Among Existing Competitors:

Evaluate the Competition: Take a good look at your peers and their capabilities.

Keep Your Edge: Continuously improve to stay competitive in your field.