Dominate Market
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Dominate Market
No Bullshit Guide To Achieving Business And Personal Gratification
In this book, I’m going to get you to dig deep and get into your soul to find out what you really want out of your life and business.
Enter your information below to get the first chapter for free.
You must take personal responsibility for your outcomes and finally become the best version of yourself for YOU, your family and your business
Copyright 2022 Dominate Your Market. All Rights Reserved.
Taking personal responsibility for your choices is critical to your success in life and business.
Having a growth mindset and the DESIRE to get the most out of this crazy life of ours is paramount.
This will be a journey you won’t want to miss. Let’s go!
My passion and mission is to help men become the best version of themselves for their business, family and personal life. As a growth-driven CEO or business owner do you feel alone? You may have some business success, money and toys but are you happy? Is life passing you by?
We are going to get your mind right once and for all. You will not feel defeated. You will not feel beaten down. And you will not question why you’re doing all of this. You will have clarity on both your business and what you REALLY want out of your life.
You are soon going to have the business success you’ve desired and a purpose-driven life too! If you want more money…you’ll know your “why” behind it, and it will motivate you to succeed…no matter what!
This is a journey we are going on and one that will give you a new outlook on your life. I am not going to pull any punches, or be soft. This is real shit and we are going to get it right.
Your company will have more revenues, and more importantly profit. Your team will be inspired and valued and become evangelists for you. You will have IMPACT strategies that work!
Business success. A better life. And a healthier YOU! Let’s go!
Get access to my business and personal growth tools. Join my email list as I’ll be announcing new ones on occasion.
Do you want energy, enthusiasm, motivation, inspiration and growth in your company?
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How can you emerge from today's ever-constant competition?
The marketplace is a volatile place. Like a field built on a fault line, it can crack at any moment. Sometimes, that results in economic anxiety , but at others, the cracks can reveal some stupendously profitable new market .
All we can do is study the trends and dive in when we find one. But, it doesn't just stop at finding the market -- that's just the first step. The hard part is figuring how to enter that market and dominate your competition .
How do we do this effectively? I consulted some industry leaders, experienced entrepreneurs and investors who know what it takes to develop a plan from scratch, enter a new market and take it over.
Business follows people. The deeper your understanding of the people in your emerging market, the easier it becomes to serve them the right product.
For Boris Mordkovich, the founder of Evelo, an electric bike company, says, "Success in entering new markets and taking over comes when you spend heavily in getting to know your product's target audience, and aggressively serving them your products based on the customer information you have on them."
From Mordkovich's perspective, startups can't survive for long in new markets with aggressive competitors if they don't have an edge over the competitors in customer information.
"Not everyone is your target customer," he added. Previously, we were heavily targeting the 20s and 30s for our electric bikes. But fortunately, due to our heavy investment in knowing our target audience and how to serve them, we accidentally discovered that our main customers were on the older side: 50 or 60, baby boomers, recent retirees, and that singlehandedly helped us build on the market."
Creating your entry point strategy is where the magic happens. You need a concrete plan for your launch into a new market -- a unique entry into a niche sometimes spells doom to the company that doesn't strategize well.
For Jack Vogt, CEO at Credit Zipper, says, "If we don't have a concrete and astounding entry strategy into the new market, my team and I will put a hold on the launch. Your entry will become your culture. It's the way you enter that spells how your audience will see and perceive you. And this is hard to change. Any mistake from your brand during that fragile brand build-up stage can thwart your business progress in that new market."
It's a waste of resources to delve into a market you don't have an entry point strategy for. A thorough business analysis will constrain your decisions and make you plan your entry point strategy better.
Don't try to do it all yourself. If you have a weakness or need help , meet another brand with strength in that area and partner with them for a mutually benefiting business.
Rebecca Montrenes, CEO of Lanyards USA, says, "Partnerships are pretty awesome. We regularly partner with brands in new territories to reach far more than our capacity can reach as a company. Partnerships help us get deeper market penetrations which end up with the two companies making a profit as a result."
"We take over new markets by making sure we stretch ourselves to beat everyone in that market on products coverage or services coverage," says James Bradly of Dealslands. "I have found out that when a company becomes that big, they automatically become the face of the new market. And this position helps your brand pick up the signals of new markets and new trends within the main market before others discover them. That way, your brand is always investing before others and buying out promising competitors before they even become real traits."
Own the niche through sheer size. Even if this is the costliest of all the strategies mentioned, it works profoundly on new markets.
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Growth Strategies
Marketing
Sales
Customer Service
Social Media
Business Insurance
Success Stories
Leadership
Entrepreneurs
Branding
Time Management
Editions
United States
Spanish
Middle East
India
Asia Pacific
Georgia
Europe
South Africa
Opinions expressed by Entrepreneur contributors are their own.
Terms of Use
Privacy Policy
Cookies Policy
Site Map
Contact Support
Advertise
Customize your customer appreciation via the following philosophy.
My area of expertise is in leadership development using the philosophy of Lean Six Sigma , in other words "process improvement strategies".
Now join me on the journey I call A Tale of Two Companies: One business allowed its workers to be engaged by making improvements that allowed the customer to be first in mind. The second created an environment of "it's not my job" eliminating employees from using client-first thinking. Now you might ask, "How can the customer not be first?"
Many believe Lean Six Sigma is solely for engineering and manufacturing companies. That's the first misconception. This managerial approach is built on the premise of eliminating wasteful elements and focusing solely on the customer. Having taken that quick glimpse of Lean, as an entrepreneur, you can now see that this philosophy applies to all businesses. Every business operates in what Lean practitioners call SIPOC, (Suppliers, Input, Processes, Output and Customers). Understanding that small segment of lean thinking will open the door for you to look at the three ways to dominate your market.
Meet Office XYZ, a Dental Facility that has a small staff of 5-7 individuals each having their unique jobs when dealing with patients. I called this facility to make an appointment for my mother and was told they needed to verify her insurance and would call back once they received the approvals. Two weeks went by before I realized I had not heard from anyone regarding the insurance verification. I called the office and asked to speak with the individual that was to call back, whom we'll call Kelly. I was informed that Kelly was out of the office and had been ill for the past two weeks. My next question was: "is she the only person that verifies insurance?" The response was affirmative and I then asked to speak with a manager. I was told Kelly was the manager. Let's stop here because now we enter that well-known rabbit hole of "it's not my job."
Meet Office ABC , A Pizza Company with a similar-sized staff. One night I called for a pizza. Upon placing the order I was told my meal would be about 30 minutes. Half an hour on a Friday evening? This company operated far differently than the first. When I placed my order something incredible happened, I received a text with the following message: "We're making your order. It's all coming together now. The kitchen staff is busy with your order making sure everything is just right."
A few minutes later I received this missive: "It's on the way. The driver has left the store and will be at your location shortly", followed with, "Delivered! Time to eat. It's been our pleasure serving you". And it was within the time promised by the associate.
These two very different experiences gave me moment to pause. Did Company XYZ know about the importance of "lean thinking" and did Company ABC know they were using the lean six sigma philosophy in their operations? Did the leader of Company XYZ actually walk the process to see if there were any wasteful elements that allowed their service to lack the three main components of customer first thinking: quality, speed and delivery? And what about Company ABC, did that leader utilize the concept of Gemba, meaning "go and see" to improve their value stream and get to the point where they asked what their customers appreciate?
When exploring Lean Six Sigma's methodology the first step is to find the root cause for the identified waste. Then you move into seeking what the customer defines as quality , you determine the speed of getting your customer the item or rendering the service and you seek an appropriate method of delivery .
One can't assume to know what the clientele defines as quality unless they have actually been asked. In Company XYZ it is evident that no one took the initiative to seek input through surveys, focus groups or used any feedback techniques. There is a concept in the Lean lexicon called (VOC) Voice of the Customer. It simply means find out what your customers want and are willing to pay for. This is where you will find that notion of quality.
In the tale of Company ABC, you can attest to the fact that quality for their customers, myself included, is hot pizza, and being notified as to what's going on with their order. How did they come to know and implement this into their operations? After receiving such great service I had to call and speak with one of their leaders. I was informed this is how they compete as a reckoning force within the market.
Being the fastest in your field has a huge impact on your market. As you can tell from the visit with Company XYZ speed played no major role in what they deemed as important to customers. Two weeks to verify insurance is beyond an acceptable practice. And, by the way, I failed to mention that I did speak with another person, upon request, who did call back within 24 hours to inform me that they did not accept the insurance. Yet I waited 2 weeks for something that could have saved me both frustration and aggravation. Speed and convenience are major players in our buying experience.
Company ABC, epitomizes the importance of speed. On each text message I received that time stamp of delivery was also listed. Today there are ample services to ensure your customers get items and services in a speedy manner. This company has a system in place that allows employees to know time schedules for various sizes, as well as any increase in time based on selected toppings. Have you looked at your level of quickness, while keeping the high standard of quality appreciated by your customers?
Why is the method of delivery so important to your customers? Is it easy to obtain your product or service? Delivery in its simplest form equates to how a customer receives your product or service. Simple right? Company XYZ's delivery was neither exceptional nor satisfactory. The level of professionalism of their staff created an angst for the customer and therefore any method of delivery they deemed appropriate was subpar. There was no option as to whether they could email, text me or call me. Based on their performance I don't think any of those options would have changed the outcome.
Company ABC created a delivery method that allowed me to select how I wanted to receive the product. They of course deliver in their vehicles, but I had an option to have it delivered to my door and left in an appropriate place, to have them ring the doorbell and I receive it face-to-face or contactless, it's in the trunk and I come out and retrieve it. This allows the customer to select an option.
We have just visited two companies: One eliminated waste and the other added to it. Which business are you?
The Day After 9/11, This Family-Owned Jam Company Lost All of Its Airline Business. But One Son's Strategic Rebrand Has Brought Lasting Success.
The Art of Active Listening Requires Leaving Your Ego Behind
Using This Color in Your Facebook Ads Could Increase Your Click-Through Rate
Almost 3 Decades Ago, I Wrote Myself a Check for $1 Million, When I Had Nothing. Here's Why .
This Entrepreneur's Wellness Tech Platform Was Inspired By His Grandma's Garden
Here Are the 7 Traits You Need to Get Rich in the Restaurant Industry
Yankee Candle Founder's $23 Million Estate Comes With an Indoor Water Park and Two 'Car Barns'
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I understand that the data I am submitting will be used to provide me with the above-described products and/or services and communications in connection therewith.
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Copyright © 2022 Entrepreneur Media, Inc. All rights reserved.
Entrepreneur® and its related marks are registered trademarks of Entrepreneur Media Inc.
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