Pushing for Success

      

     

     Staying relevant in the business world is the key to success. businesses want to be in that small group of companies that are relevant and o the leading edge of the trend charts. Relevance can be a few different things but it all comes back to the basics of being up to date! It can be that your business is creating popular trends with its products or it can be that your company is adapting to these new trends and following the leaders. Keeping up with trends as they develop a company will guarantee consistent business. The companies that follow are able to follow the competitors lines for as long as they need until they decide to develop products with their own twist to it. 

      Sitting in the shadows following the trend is the act of “Gaining parity”, as stated in David Aaker’s article. This can always get you by but you might get to be know as the company that is basically ripping off others ideas and using them to make a name for yourself. Not really the case in 2017 because knockoffs are sometimes regarded higher than the actual product but it is still lacking in the creativity department and you won’t be known as an innovator which I’m sure that no business wants that. 

      The companies out front designing and pushing the limits are often the high dollar main stream brands that are able to charge a high amount and get high sales because they started it. The companies following the trends close behind are using the same concepts to stay in the relevancy loop. This companies have a great opportunity if they are following the leader. The ability to create a cheaper product the performs the exact same and explore what works and what doesn’t as far as new features or materials while charging a little less. It compares to racing for example you can be the same speed ( have access to the same supplies, tools and technology) and get a bad start ( not release the product first) You are now in a game of follow the leader, you are behind but now you see all of their lines and you can study their tactics. You can pin point the competitions weaknesses and make them your strong points then go for the pass. Release your updated product and the new most relevant company is you. This action was referred to as “Leapfrog the innovation”. You are the new company making the big jumps at the boundaries. Consumers love new features and new designs. We are always looking for the new when we are used to the old.  

      If you are not willing to push your boundaries you could always just “Stick to Your Knitting”. Stick to what your company is good at and perfect/ update the idea of the product. There are all kinds of new products that are pushing the envelope but they almost always have major flaws. Keeping your focus on perfecting and updating an old design could raise your credibility tremendously. Consumers want what is easy to use and what actually works, simple as that. 

      Think about these ideas for being relevant and decide what route will help your business grow.

Sources:

https://hbr.org/2012/05/four-strategies-for-staying-re

http://www.businessinsider.com/how-to-stay-in-business-for-300-years-and-stay-relevant-2017-5

http://www.cartoonaday.com/images/cartoons/2012/04/burger-king-vs-mcdonalds-cartoon-598x404.jpg

https://media.licdn.com/mpr/mpr/AAEAAQAAAAAAAAT0AAAAJGIyMDE5ZDg3LTFkNzEtNDZhNy04ODRhLTE1ZjcxNjBjYmE1OQ.jpg