Heavy competition? Don’t join ‘em – beat ‘em!

Fast Company
Reid Carr

Just because there is no one selling ice to Eskimos doesn’t mean you should enter that market.  Conversely, a competitively crowded industry just means there is demand for it. The key to succeeding in a crowded industry lay within your company’s ability to do something different or present yourself differently.

There are so many ways you can differentiate yourself in a crowded marketplace.  To name a simple few, you can choose to sell to different people, such as small businesses; you can find new distribution channels; you can stratify the industry’s price points by introducing a luxury class; or, you can redefine your selling proposition – for example, Starbucks sells “experience” rather than “coffee.”  However you choose to be different, you need be great at the basics and be exceptional at your defining factor.  The key here is to know who you are and who you are not.  Don’t conform if you know you’re right; a true customer mind-shift will take time and education; be patient (and listen).
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