Dominate the competition
Learn moreWhile these are challenging times, they are also times of opportunity. In fact, the best companies have always excelled in the most difficult eras. More than half of the Fortune 500 were birthed in an “economic winter”—a recession or a depression. Companies like Disney, Apple, Exxon, Microsoft and FedEx were launched when the rest of the business world was licking its wounds.
If you can learn, as they did, not only to become more efficient, but to also optimize sales in this environment, you’ll be able to dominate in any economy. Whether you’re an army of one or a multi-billion dollar corporation, there are principles and strategies that you must understand and master to take your business to the next level. The 7 Forces of Business Mastery are about creating a system that improves your business by empowering you with the skills and tactics you need to gain an invincible advantage—in any environment.
1. An Effective Business Map
The only true competitive advantage in today’s changing market is not just having a business plan, but also a business map that can take you from where you are to where you want to be in the shortest amount of time.
2. Constant & Strategic Innovation
As a leader in your industry, you have to strategically innovate. You must be constantly looking for ways to create something more, new or better than what currently exists. Consumers are no longer impressed with any one new feature or service for very long—they expect a constant evolution of improvement or they will go elsewhere.
3. World-Class Marketing
Have you ever seen a business that has inferior quality products or services, and yet they dominated the market? It’s because the business knows who its customers are, what they want and need, and how to tell the business story in a way that compels prospective customers to buy.
4. Sales Mastery Systems
Marketing makes people want to do business with you, but sales is what you get paid for. You must create multiple channels to capture, convert and close sales.
5. Financial & Legal Analysis
Do you know where your company is spending its money? It’s easy to lose sight of the key measurements that can predict our progress or demise. Being able to measure where your business is, where it’s going, and being able to see the blind spots that could get you into trouble are factors that are paramount for any business.
6. Optimization
Sometimes, the biggest growth opportunities don’t come from new initiatives, but rather from taking the core processes the business is already doing and executing them more effectively. A small incremental improvement made in a few key areas can result in geometric growth to the business as a whole.
7. Raving Fan Customers
You must understand, anticipate and consistently fulfill the deepest needs of your clients. The more value you are able to add to your customer, the more you’ll dominate the marketplace.
Next in this series: Throw Out Your Business Plan and Create a Business Map
