How to compete against fast-moving, innovative competitors
We ask how to compete against fast-moving, innovative competitors. And suggest that there are plenty of opportunities for great companies to take advantage and gain market share. Also, large and small well run companies are focused and leave nothing to chance. They can offer excellent products and focus on what they are good at. If your company is smaller than your competitors, you can pick off some unique products or services they don’t see it as core to their business success.
So, pick it off and do it better than them can produce significant sales for you. Poorly run companies fail to take decisions, create anything new and have staff retention issues. They worry about internal politics, signalling without substance to gain publicity. If you are competing with a poorly run large company, then you can take advantage of customer service and speed of supply. Also, whatever the size, you should not compete against fast-moving, innovative competitors head to head.
What about IBM?
You need to be smart and look at what they are not doing and find our what their customers don’t like about them. Or what needs they are not fulfilling. IBM realised too late that their love for just mainframe computers and a refusal to understand the B2C home user market, let Microsoft compete. Before they realised the significance of individuals buying their own personal computers, it was far too late. And in all honestly, IBM is still lumbering all trying to find a winning formula. Yes, they are a massive, global and a household name.
But when you ask, what do they do, can you answer as clearly and with conviction? As clearly as you could if the same question was asked about Apple or Macdonald’s? There are many instances of super large companies realising too late that a smaller competitor has developed a product they could have developed. Mainly down to “not getting the memo”, senior management thinking it’s too much bother or politics getting in the way. How to compete never crossing their minds.
But, you are different as you live and breath your idea. You committed to making your offering the best it can be. To carve out a little piece of the market for yourself. Some large companies are like the old fashioned way of fighting battles.
Dressed in red and in formation
You know, the soldiers in lines and formations, dressed in red or blue so the generals can make out where their troops are. A ranking system to keep order and moral. Slow-moving companies don’t know how to compete and should trim their waistlines to ensure they become like a special forces Navy Seal team. Small teams with their command and control and able to think for themselves. Flexible, highly trained and everyone knows their job. Been trusted to think for themselves, take responsibility for their actions and use unconventional methods to get the job done. And size does not have to be a stumbling block to acting as a special forces team.
How to compete summary
We asked, how to compete against fast-moving, innovative competitors and suggested, no matter how biggest or well established you are, there are plenty of opportunities for great companies to take advantage and gain market share.