Taking Your Business Out of The Crowd

2 Minutes Business Article

Title: Taking Your Business Out of The Crowd.

From recent studies of businesses, the 'Capacity' to create new market space that makes competition difficult is becoming very rare. And I think this is one of the major reasons behind the constant fluctuation of the GDP and GNP of the economy of most countries.

In a harvard research done about emerging businesses in 108 companies, It was discovered that 86% of new business ventures were line extensions - continuous Improvements of already existing products and services. Only 14% of new businesses were targeted at creating new markets or companies. While the companies who Invested in the extension and Improvement of already existing companies account for 62% of the total revenue, they deliver only 39% of the total profit. Interestingly, the 14% who invested in creating new markets and companies, make just 38% of the total revenue and deliver a shocking 61% of the total profit.

This is quite an Interesting revelation of how taking calculated risks into unexplored terrains can be very rewarding. But, you'll agree with me that most times, only one out of ten is willing to take such risks, not because they are comfortable with it, but because they are daring.

You can Join the outstanding 14% who are creating new markets and companies and giving the highest turnover. The key is in learning strategic thinking and making strategic moves - Learning how to make new cheese, spread the smell and make people look for them.

Action Step: Don't compete, come out of the competition and create a new market. Yes, you can.

PLConsulting...

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