This puts you in the position of fighting on two fronts. It requires a lot of energy, and can greatly distract you from what you do, even
to the point of a business failure. But there is good news. You can grow fast and stay under the radar! That means all your energy goes to your customers, and that can result in a huge success.
Easy Going
By growing fast and staying under the radar, you will allow your business to strengthen. Here are the key strategies
on how to go about it:
Pick a micro niche // Don’t just focus on a niche category, pick a micro niche! For example, instead of making the next trendy hot sauce, make the first hot sauce that is only for exotic meats (think ostrich and wild boar). Hot sauces are competitive, but the market for hot sauces for exotic meats isn’t. While there are fewer customers here, the competition is null. This gives you the time to become the de facto player in the category, master your offering, build an unvaryingly loyal fan base, and position yourself to “come out of nowhere” and capture the entire market.
Grow locally // Rather than casting a wide net and shooting for a market that reaches across the state or country, aim to grow strong in a tight geographical area, and later spread out from there. You will find your business growing quickly, creating loyal customers, while also avoiding popping up on the radar screens.
For example, think about a pizza shop that only serves a single large skyscraper. Talk about a tight geographical area, it could deliver pizza to every tenant way faster than any other local competitor. That same pizza shop could give each tenant in the building a
hotline or walkie-talkie to easily call in orders. And the pizza shop would slash costs without needing a team of delivery people.
Lure loyalty // No matter what your product or service, focus on building loyalty with your customers. When you do that, you will have a following of people who will always buy from you, creating strength in your business. The trick to doing this is to get your followers involved in the development of new products and services. Reach out to your community, and get their input on what you should do and how you should do it, instead of just trying to sell them your stuff. This forms a loyal bond, and even a sense of ownership, with your community.
Address customer complaints (each and every one) // If there is one thing that will put you on the radar, it is negative attention. Complaining customers have a loud voice. You need to respond to customer complaints—yes, all of them matter—and address them as best as you can.
If your customer complains publicly, in most cases you need to respond appropriately and also publicly. The rest of the community is watching and wants to see how you handle it. You handle it well, and it goes away. You handle it poorly, and the world (including your competition) is going to find out about you … in a bad way.
Avoiding the Spotlight
The faster your business hits the radar, the faster others will try to copy you and exceed what you are doing. When the competition sets in, you may not have the muscle to withstand it. But if you can grow quickly and avoid the spotlight, you may just have that magic moment of “overnight success” after years of effort.
Ugg, the popular boot manufacturer, used this exact strategy. The company started in the late 1970s, focusing on the surfing community. By serving a small but loyal following, the brand was able to build stronger and stronger, all while staying under the radar.
Then Ugg, in the early 2000s, became a global phenomenon—the proverbial overnight success. All that success happened because they stayed under the radar and avoided the eye of the competition until they were ready.
For you? Hopefully, “no one” has heard of you yet, and you can keep it that way for a long time. Ironically, it may be your best shot at having a super success.
Mike will visit Kansas City on Nov. 6 for the Thinking Bigger Speaker Series. Visit ithinkbigger.com for more information.
