It is by reaching a new clientele that small businesses have the best chance to have great success. While most know that the ‘riches are in the niches’, finding a niche that will reposition you for success is a whole other story. What happens most often is that we rely on the industry norms to dictate what clientele should be our target market.
Every industry has pegged the clientele they deem their “ideal client.” Then everyone goes after that very same clientele; hence the rivalry.
Those who master this challenge are elegantly defined as having the “competitive edge.” Unfortunately, this only means that you are a few steps ahead of your competitors. You are only as good as your most recent product, offering, or customer attraction.
Many companies exhaust their energy staying ahead of their competition. But this is draining and a never-ending process.
It is those that look across their market boundary that intentionally reach a new clientele. Finding this virgin market (new clientele) and attracting them to their industry is ingenuity. And small businesses have the greatest opportunity to attract this untapped market.
Small businesses do not have the bureaucracies and restrictions hindering or limiting their creativity and innovation. Giving them the freedom to seek and test new ideas, methods, and strategies.
What you really want is to position yourself to make your competition irrelevant. This means that you are so different that you don’t have any competitors. You do this when you reach a new clientele.
Chan Kim and Renée Mauborgne created and coined Blue Ocean Strategy which specifically identifies why you want to reach a new clientele. An uncontested market space takes the weight from competing with others in your market which they attest is a red ocean and places you in a blue ocean all of your own.
Curves took advantage of this blue ocean when they initiated a gym for the baby-boomer woman. They understood that it is important for everyone to exercise no matter her age. Their untapped market was women 50-plus. They created an intimate and social setting with a sequential exercise system. There are new Curves opening weekly in sites all over the nation.
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