On October 6, 2009
It’s Time To Redefine Your Market
The ongoing stream of news about the gradual economic recovery may be tempting business leaders to start to breathe a sigh of relief. That would be a mistake. As markets improve, the level of competition tends to increase, not reduce. In any market, being number one or number two is vital to gaining the scale and profile that generates profitable growth. So, if you are stuck in the pack, or worse, and have the possibility of more competition in the months and years ahead, what can you do about it? One option is to redefine your market so that you can become the market leader. Take these examples: Following its launch in the mid-1980s, Ryanair became a struggling also-ran airline…
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