Why I don't tell you to compete on price

Normally, when we talk about exporting, people say: we need to be more competitive on price. We need to be aggressive on price.

In Germany, it's the opposite.

They look for quality. They don't like cheap stuff. They don't like Chinese plastic.

European regulations are rigid. It has to be top quality, or you burn yourself. And there's a strong demand for Canadian products.

If you make industrial products, Germany is number one. It's the gateway to Europe.

Here in Canada, if we compete on price, we're in trouble. India will beat us. Vietnam will beat us. China will beat us.

So I ask my clients: what problem are you solving? Ask your leadership team. Ask your customers too.

I've challenged clients to do this. Sometimes you think you're solving one problem, and your customers tell you it's a different one.

That's how you find your competitive advantage. What sets you apart? Not price.

And there are markets where we can even raise our prices. The US gives us volume, not margins. These other markets give you the margins.

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