Last Updated on August 20, 2018 by Jessica Adams
If you’ve ever moved to a new place or started a new job, then you’ll know just how terrifying that sort of fresh start can be. It’s the nerves, the headache of apartment hunting, the stress of actually moving, hoping you meet nice people, and the constant doubting voice ratling away at the back of your head that says, “what have you done?” Well, all that stuff can be applied to launching a startup too.
Think about it for a moment. When you start a small or just a solo business venture, you are stepping into a market filled with much bigger competitors. That fact alone can fill you with the same worries, headaches, and doubts as moving to a new place or the nerves you got on your first day at the new job. That’s when you need to ask yourself the question, “how can my startup compete with these major players?”
So I’ve put together a few guaranteed ways your startup can surpass, even the biggest of “fish” out there! They’re effective, albeit pretty obvious, strategies that you should adopt and start taking right to those bigger competitors out there…
3 Guaranteed Ways Your Startup
Can Surpass The Big Fish Out There
Get Your Niche On
If there is one thing you should be doing from the start, to make sure you stand the best chance, is to focus on a specific segment or niche of the market. We’re talking laser-focused. Honing in on the bare minimum, building your take on that niche in a really LOUD marketplace, all your own! Surely you’ll expand as you grow from there but you must make sure to focus on your target audience too! That’s what will help you make targeted, easier sales. This, of course, will boost your revenue stream and you’ll begin targeting your market with more precision, which will help you to grow a larger following. Don’t believe this can work? Just look at Red Bull. They went from energy drinks to having a foot in almost every sport in the United States.
Think Bigger Than You Are
Yes, you are a startup, but that doesn’t mean you need to think about survival. No way. Think big, act big and be big. Set yourself up for scaling fast in every way you possibly can. Have a website that makes you look successful but personal. Build a pool of trusted freelancers you can call on to keep overheads low and production high. Think about how you can use technology, remote workers, your computer network security, and consider having a native app developed to give yourself a better chance. Outsource your blog to a creative content writer so that you become a thought leader faster and build relationships with trade journals. It will all help you win that David & Goliath battle.
Know The Problem You Solve
Let’s get this straight: you’re in business to solve a problem for your audience or potential customers. You must literally solve a problem in order to survive. And to do this in the face of stiff competition, you need to know what your competitive edge is and then flaunt it. A lot of the time, that is the story. It’s about finding your angle and turning it into a story that will win over your customers every time you add it to your website and use it in your marketing campaigns. So, head to the drawing board and make an endless list of what makes you different from your competitors. Then turn it into a story.
This has been a guest contribution from Wendy Meyers, in the Small Biz “Mini-Post” Series. 1K words or less & open for Guest Posting!
Edited by Jessica Rose Adams
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