April 13, 2010

Strategy | Lead or Follow?

How Can You Help?

I enjoy spending time with business owners and managers. Their passion is palpable, their desire irrefutable.

I'm on a significant 'meet new people' run right now and it's fantastic to get to know what is going on in the minds of those who are working so hard to build their business. It's not easy.

I’m often asked how I can help, but I can't offer solutions if I don’t ask questions. The first step may not be marketing or social media – it may be a view from the top.

Do you know where the company should be?

Imagine there are no competitors in your channel. Would you run the company the same as you do now? Imagine one well financed competitor who can do it cheaper and faster and is coming after you. What is your plan then?

All too often we measure our companies against larger brands. Without knowing their strategy (or lack of) how can you compete against their tactics?

We see this in television all the time. Sitcoms make a comeback and suddenly there are 30 new ones. Then it’s doctor shows or prime time game shows. It’s the same with the music and movie industries.

We sometimes follow someone's lucky break and call it genius.

The world is a distracting place which makes strategy even more crucial. Once you have a clear picture of objectives, you can measure your success against them versus the activities of others.

This is not to suggest you fail to be aware of competitors or trends in your industry but simply watching what others are doing can be a dangerous sport. You don't have it all wrong and they don't have it all right.

While you are following them, could they be following you?

strategy. marketing. social media.

photo credit: tonynewlin

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