Lists for Successful Business Growth

I run across lists of what it takes to make a business successful pretty often. And even though most of the lists are pretty repetitive, I usually enjoy them (check out my write up from just a year ago at the bottom of this post). There is usually at least one nugget I haven’t seen before. Ultimately I write them off because they are often for an audience in the “best intentions” or “I’ll start it tomorrow” group. But Verne Harnish over to wrote up a list of six that I liked. Here’s an excerpt:

1. Get an edge

Find an underlying advantage of 10 to 30 times over the competition to dominate your industry. Barrett Ersek, founder of Philadelphia-based Happy Lawn, innovated a way to close sales in minutes instead of weeks using a proprietary mapping and price-quoting process.

How to figure this out? Look at your industry’s biggest cost and time constraints and challenge the conventional thinking in those areas of the business.

2. Own a phrase

Brand is about owning a word or two in the minds of your market. No confusion about what niche Trench Safety & Supply Inc. owns. J. Darius Bikoff, founder of Energy Brands, coined “enhanced waters” as a new multibillion-dollar beverage category. Chris Krause is focused on “athletic scholarships” for high school athletes.

And how do you know if you own the phrase? Google it and see if your company shows up.

3. Hyperfocus

4. Control your cash

5. Write!

Flood the digital market space with blogs, white papers, YouTube videos, and Twitter messages that align with the phrase you own (check out The Shipping Bloke blog). Then enhance your authority by writing a book like Chris Krause’s Athletes Wanted.

Published content is king in driving education-based marketing programs and in establishing you and your company as the authorities in your industry.

6. Pulse faster

Working Thoughts 3/18/09
Three Requirements for Entrepreneurs

Working Thoughts 3/18/08
A Brief Answer as to “Yes” and “No”


Posted in:

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: