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February 23, 2012 ISSN# 1545-2646
Leading your Market
How many of you know the amount of market share your business garners?
If your market is very wide/large you might only be able to capture a small percentage. If your market is very niche then you need to know what portion of that narrow slice of the market your business owns.
The next question you should be asking is why do you own that market share?
- Do you have the best in class products?
- Do you have the best in class total solution?
- Do you have the best in class total cost?
Businesses cannot be everything to everyone and be Best in Class. So what market leadership do you own?
Without understanding your market leadership direction your business can become diluted and not be best in class in any areas with your customers.
By defining your Best in Class Market Strategy you can then wrap your vision, mission, core values and operation philosophy around that direction. Your business processes, management systems and technology can then integrate to support and leverage your market strategy.
This week take some time to write down your market leadership strategy. Share it with your leadership team. Evaluate your goals for 2012 and see how they align with the best in class direction.
If you stumble along the way, give JKL Associates a call (313) 527-7945 and we can help you along the path to Best in Class.
Questions or comments – email us at partners@jklassociates.com or call our Office at (313) 527-7945
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