| Your
Market Share Defines Your Strategy
An
important question that is asked of potential M1 Winning@Business™
clients is "What is the market share that you control?"
The answer is key in that it has implications for your
company strategy.
If
your business is significant in the market, then it
must innovate
and change to stay on top. Growing the market share
may require expanding
the targets, bringing in new product lines or opening
in new locations.
If
your business is insignificant in the market, the challenges
are different. Not only is growth important, but your
business must be moving toward a significant position.
That may mean more marketing and advertising to take
some market share from the dominant players. New promotions,
products and training can help improve the internal
reality that validates the external perception which
influences the market.
Another
approach may include limiting the target market so that
you dominate a significant portion of that market instead
of trying to satisfy all sectors. For example, an insignificant
local retailer of sporting goods may target a particular
segment of the market, like shoes, to apply resources
and dominate. A manufacturer of machined parts may focus
on pump parts to gain brand recognition and begin to
dominate in the pump suppliers' market.
Let
Management One® Winning@Business(tm) help your business
reach its
full potential.
Starring. . . Management One® Clients
"The
Wood River Journal" recently announced the results
of the readers'
choice poll which selected the best of retailers in
various categories.
Not only did Backwood Mountain Sports win "Best
Outdoor Store", it also was
awarded "Best Store for Men's Clothing". North
& Co. was named "Best
Store for Women's Clothing" and Silver Creek Outfitters
earned "Best Guide or
Outfitter". It appears Ted's clients are "the
best" in that neck of the
woods!
Affiliate
Errol Chavkin's client, Lisa Klein, who is located in
LA, was
featured in a 2-page article in a February issue of
"Life & Style
Weekly".
Hitch your Business to a Star
What
is the difference between hiring a consultant or, instead,
implementing M1 Winning@Business™? The contrast
can best be explained after first relating an ancient
tale as told by Collins and Porras in their book
"Built to Last".
The
story relates that long ago an esteemed savant could
look at the
sky and immediately tell what time of day it was. This
was an amazing feat, and
people would come from miles around to benefit themselves
of the
valuable information.
Many years later, another man sat down and put together
a clock. This
simple tool also imparted the time of day. This valuable
invention provided
the means to everyone to have the information upon which
important
decisions could be made.
Winning@Business™
is designed to be a clock rather than a stargazer.
W@B is a process for running a business, solving problems,
seizing opportunities and getting people to work together
to make things
happen. M1 affiliates are there to be certain that the
people understand the
process and learn to use it effectively. Once everyone
has his own clock, the
whole organization runs more efficiently, effectively
and more profitably.
Quote of the Day
"An
automobile goes nowhere efficiently unless it has a
quick, hot
spark to ignite things, to set the cogs off the machine
in motion. So I try to
make every player on my team feel he's the spark keeping
our machine in
motion. On him depends our success." -- Knute
Rockne
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