In 1979 a Harvard Business School professor named Michael Porter came up with a framework “to analyze an industry’s attractiveness and likely profitability.” 🤓
It’s explained concisely in this article and video.
The five forces:
- Threat of new entrants
- Threat of substitutes
- Bargaining power of customers
- Bargaining power of suppliers
- Competitive rivalry
Could be a handy framework to help you assess a business idea (though it does have its critics).
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