BizJournals Portfolio

"Steal" More Market Share

Guest commentary: The only way to flourish in a flat—or declining—market is to take business away from languid, petrified, soon-to-be-irrelevant opponents. Doing so involves a mix of espionage and trendspotting, as well as maintaining a sense of urgency.

When It’s Time to "Kill" Ideas When It’s Time to

Guest Commentary: The hardest part of a brainstorming session isn't always coming up with a list of brilliant ideas. Sometimes, it's deciding which of those inspired concepts shouldn't see the light of day. Read More

Bring Clarity to Your Career Bring Clarity to Your Career

Guest Commentary: When you first start in your career, especially if you are an entrepreneur, there are two things that you’ll need for success that sound simple, but may not be: knowing what you want to achieve and knowing what you stand for.  Read More

A Socially Made Millionaire A Socially Made Millionaire

Guest Commentary: The concept of a “self-made millionaire” is a myth. From personal mentors to investors to pivotal business contacts met along your way, even serial entrepreneurs who make millions of dollars are socially made success stories. Read More
1 of 2 NEXT

Weak entrepreneurs enrage me. I glare at those shivering fools who harrumph a sigh of despair upon hearing a TV economist gloomily prophesize anemic 2 percent average growth. Sheesh!

If that’s you, do us all a favor and turn your business license in to the nearest "Imminent Failure Office." Then, from the sidelines, applaud those bold, nimble, and aggressive operators who ignore such stats and divine their own staggering growth charts.

Worthy entrepreneurs never cower in the shadows. They never wait for “the economy” to resurrect their businesses. They ignore dire tones. They embrace the attack. They outmaneuver the most earnest combatants—and abscond market share from tired, lazy competitors.

Sounds deliciously audacious, right? But in practice, how does one do that?

The answer is: You accede that the only way to flourish in a flat—or declining market—is to take business away from languid, petrified, soon-to-be-irrelevant opponents. With a finite market and no national organic growth on the skyline, there is simply no other way to beat the averages than to take share away from them.

The mechanics of such a blueprint are so elegant in their simplicity that no code-cracking is required. Every skeleton in your competitors’ closet is hiding in plain sight. Action is your only marching order.

For starters, three is a good number.

1. Engage in corporate espionage. I’m serious: Spying on your competitors is paramount to your success. Reconnaissance must be deployed to accurately assess their strengths and expose their weaknesses. This “intel” will decree the steps in your tactical assault. (Don’t you love the equable drama of all this?) By the way, the kind of spying I’m talking about is quite legal—and laughingly free. Because you have been blessed with torrential access to the World Wide Web, you can stealthily invigilate your competitors’ vast public conversations. Become a Facebook friend and you’ll absorb their daily posts and customer commentary. Follow their tweets and eavesdrop on who’s complaining—and who is celebrating. Subscribe to their RSS feeds and you will seize their latest pronouncement the millisecond it’s released. Get assigned to their press releases to be apprised of any hot-off-the-press market or personnel developments. Sign up for free Google Alerts and you will be notified any time their name appears on the Web. And exploit Addictomatic.com by typing in the names of your competitors. You will witness what’s being alleged about them in the aggregate blogosphere. Once you know your competitors’ Achilles' heel, you’ll have the steam to plot your market-share attacks.

Comments

If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.

Connect With Portfolio.com

Come on, like us—you know you want to.

Follow us and if you're an innovative entrepreneur, we'll return the favor.

Today's top stories, conversation starters, and the back nine business bites.

spotlight on

People & Ideas

Jesse Draper Totally Gets Entrepreneurs

Look past the pink-set spontaneity of The Valley Girl Show and you'll find Jesse Draper—born into a family of legendary venture capitalists—doing her damnedest to get top entrepreneurs onto her Internet show. Read More