Monday, June 27th, 2016
Hamburgers were around before McDonald’s got its start, and the same is true with athletic shoes before the advent of Nike or Reebok. The secret sauce to being competitive in a crowded area or one that has a dominant player is a combination of brand development and customer loyalty.
There have been many stories about smaller companies won out against the larger competitors because they came up with the products, a brand, or even a lifestyle that became iconic.
You may have a passion for selling anything, but the first question to consider is what makes your product different from what’s already on the market. The fact that you have an idea implies that there is something lacking among the available choices, and your product may fill in the gap.
What you offer does not need to be entirely new, since as the saying goes, there is nothing new under the sun, but it can be a fresh spin on a tired concept. Some people have notions of an attitude or feeling their products will convey that sets it apart from the company that makes ordinary widgets.
In business, nothing happens until a sale is made. From the jump, you’ll need to find a good way to get leads, convert leads into sales, and make sure you keep getting repeat sales from your customers.
You have to create an idea of your own target customer who may be slightly different from the target customer of a huge competitor. Offer what people want to buy, not just what you want to sell. Too often, people jump into a business built around a product or service they think will be successful, rather than one that is already proven to have a market.
Summing-up: Even if a small business is an area that seems crowded or has a dominant force to contend with, by creating a balance of making it new and beating the competition at his own game, it is possible to achieve success and market share.