How to be a market buster
by OneCoach Team | posted on September 3rd, 2008 | Marketing, Strategy
This post is the first in a series of excerpts from OneCoach CEO John Assaraf’s interview with Rita Gunther McGrath, co-author of The Entrepreneurial Mindset, and MarketBusters: 40 Strategic Moves that Drive Exceptional Business Growth.
To be a market buster, you’ve got to demonstrate a major growth move. And there are obviously different ways to make these aggressive moves.
In order to make any move, you’ve got to be able to explain what you’re doing. If you can’t explain to somebody what your thought process is, then you’re limited to how much you can delegate, and that limits how fast your firm can grow. This falls under the broad umbrella of business strategy. Without a comprehensive strategy mapped out, then you will fall short of identifying your risks, challenges, and potential gains, and it will be difficult to explain your approach to any employees or prospective clients.
A starting point for any small-business owner is that you need to be alert to the changing environment around you. Small-business owners are very vulnerable in terms of resources. So, if you’re not faster, more nimble and more tuned in than the larger businesses, you don’t have the fat to fall back on like they do.
Another advantage of being nimble is that it’ll be easier for you to adapt your business model. What’s working today may not work next month – don’t get stuck in a rut. Your business should be a living breathing organism.
Part of this need to change stems from the fact that your customers will get used to you. Building rapport is one of the best things you can do in any business relationship, but that is quite distinct from your client getting used to you. You want to change, evolve, and always be able to offer your clients innovative methods and products – stay fresh.
Next in this series: Distinguish your business.
If this information was useful to you and your business, consider attending Mind, Marketing & Millions, the ultimate business-growth event, set for Oct. 23 - 26 in Los Angeles.
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