I’ve had a long-held belief that small businesses are uniquely equipped to out-compete their largest rivals. Smaller, more agile, and less people to mobilize all add up to being able to out-focus, out-maneuver or out-strategize much larger competitors.
But it’s often hard to know where to start. So, instead, we slowly begin to look like our competitors–same market focuses, same pricing approach and same business model.
We think we are different. But, in truth, we begin to blend in and not get noticed.
So how do you begin to build a differentiated strategy that’s out of your competitor’s reach and is loved by your customers? Start by challenging the faults in your industry’s defaults.
- Describe the defaults of your industry — pricing structure, marketing channels, customer service, level of vertical integration and so on.
- Then for each default and ask:
- “If my customer were running my business, how would they want this to work?”
- “If Amazon (or other disruptor in your industry) were to buy us, how would they change this industry default?”
Keep working through your list of defaults and let the ideas flow without judgement. An idea will reveal itself that might just have merit. If you find a promising idea, give me a call. I can send you some information on how to prototype and test your potential new strategy.
Need help defining your strategy?
If your strategy is not a clear as you think it could be, I encourage you to take a look at our new suite of services. From half-day workshops to multi-month engagements, we have several ways to help you and your team quickly get clarity around how you can win.