Six Steps to Owning Your Market and Crushing the Competition

Posted by johngies

Small Business Owners are often reluctant to put a stake in the ground in order to claim their Market Dominating Position. But when they do, their ideal clients start finding them.

image courtesy of Pixabay

Here are Six Steps to finding that strategic position:

  1. Ask yourself, “will this position deliver a competitive advantage in the marketplace”? Think about how 24 Hour fitness created a competitive advantage when they decided to be open 24 hours a day. They innovated around time and convenience.
  2. They also built the strategic position into their name (24-hour fitness). They named out loud and everywhere they communicated their competitive advantage.
  3. Identify the result you want to deliver for your client. Think about how Domino’s Pizza created the result of fresh hot pizza in 30 minutes or less. On the other hand, California Pizza Kitchen delivers gourmet pizza. In the pizza game both pursuing different markets, both creating hundreds of millions of dollars in revenue.
  4. Now define the process you and your company need to follow to consistently deliver that result over and over again. (Policies, procedures, SOP’s – it is the only way you can grow.)
  5. How will you control your quality? Document and implement that.
  6. How will you measure success throughout the process (Key Performance Indicators)

If you want to be able to take a vacation. If you want to be able to have a business you can sell, if you want to grow your business you must create your market dominating position and then document your process to own that position.

Do you want to learn more about how you can create your strategic position check out the resources ar