Strategies for Business Success
Three strategies for business success
1. Be First
Being first at something gives you a number of benefits. You can market yourself as ‘authentic’ and ‘original’ and in doing so you can charge a premium. Being first you will start out with no competition at all, this will give you a chance to develop your idea before other businesses start snapping at your heels. Being first gives you the added benefit of compound effort or traction, you’ve already done a lot of the legwork and made the mistakes, other businesses have to play catch up to you. This is a nice position to be in.
2. Be Unique
Take a tried and tested business model or idea and adapt it to include tried and tested bits from other business models. Businesses that have done this include Graze, taking the veg box delivery idea and applying it to products like nuts and seeds. Break some new ground and gain some attention.
3. Be the Best
Seen a cool idea elsewhere but know that you can improve on it? What’s stopping you? Business thrives on competition. If you can’t be first be the best. Look at ways to improve functionality, efficiency and effectiveness and you’ll be on to winner. Just don’t forget to keep innovating as there’ll always be businesses trying to do it better than you.
Which can you be?
Leave a ReplyWant to join the discussion?
Feel free to contribute!