Growth Strategies: The Best Way to Win Is Not to Compete!

June 25, 2017 5:08 pm Published by

Business competition is not for the faint of heart. You scale up your business to move ahead of your competitors and then the next thing you know, they up the ante. You try to come up with growth strategies that will take you to the next level and set you apart—expect somebody seems to constantly be raising those levels! Sometimes, the best way to win is not to compete!

I’m not talking about giving up! On the contrary, I’m talking about working hard and thinking differently so that you really don’t have competition. That concept is why Blue Ocean Strategy is one of the books I recommend to businesses that want to transform their companies and take things to the next level.

When it was first published in 2005, this book challenged the basic tenets of competitive strategy. The authors called for a shift of focus from competition to creating new market spaces that would make the competition irrelevant. That kind of thinking is what transforming your business is all about.

This is the kind of thing that is so important when you do strategic planning for your company. The annual, quarterly, monthly strategy meetings you have aren’t just times when you get together with your team to fill out forms and check things off your “do list.” They are essential to the growth and success of your company.

When you do a SWOT analysis of your business, you don’t just do it so that you can file it away in a folder until the next time you meet. A big part of doing a SWOT analysis (Strengths/Weaknesses/Opportunities/Threats) is to identify new opportunities. That means taking a look at things other businesses (people you generally think of as your competitors) are missing.

If you’re finding it hard to distinguish yourself from your competitors it could be due to the fact that your vision, your goals, and your strategies are not that different. If you have a hard time telling the difference, imagine what it’s like for your potential clients.

As a certified executive leadership coach, strategist, facilitator, and trainer, I can help you think through your strategic position and work on executing a plan that can set you apart and allow you to focus on what you do better than anyone else. Give me a call and we can talk about it!

Tags: ,

Categorised in: , , ,

This post was written by Chuck Kocher