Monthly Archives: August 2011

How to Stand Out in a Crowded Field

If you had to choose one or the other, do you think it would be wiser to work on your company’s weak points or to push its strengths?

On the surface, it seems that shoring up the weaknesses makes more logical sense, but in reality doubling down to push your strengths and create a wider gap to stay ahead of your competitors is the smarter tactic.

Why?

To stand apart from your competitors, your firm needs a point of differentiation in the eyes of your target market. In the mind of your audience — your current customers and prospects == the strengths of your company are what draws them to you.

Working to widen the gap further accomplishes two things: It makes it harder for your competitors to catch up and entrenches your company as the leader in your marketplace.

Of course, this is not to say you should ignore the weaknesses, but they shouldn’t be your primary focus. Instead, you should devote the bulk of your resources to developing your strengths. By working primarily on your weaknesses, you may inadvertently make your company seem more similar to your competition, rather than having it stand apart.

So throw aside common wisdom and defy the herd mentality. Blaze a path by continually working on advancing your strengths in order to be the thought leader in your market.

A Lesson from the Stands

Sports and business have long enjoyed a unique connection. Many of the traits shared by top athletes and coaches are as valuable in the boardroom as they are in the locker room. Authors, speakers, and business consultants often use sports-related anecdotes and stories to illustrate points they’re trying to make to a business audience.

Today, I’d like to share a sports-related story with a slightly different twist. This tale doesn’t involve a famous player, team, or coach, and it doesn’t take place in the locker room or on the playing field. Instead, it involves two fans in the stands at AT&T Park in San Francisco.

Earlier this summer, the San Francisco Giants were hosting the Pittsburgh Pirates. In the top of the ninth inning, Pittsburgh’s Ryan Doumit hit a foul ball into the stands, and the cameras caught the image of a young fan catching the ball and then handing it to a stranger in front of him. The move was greeted with cheers from the people surrounding the boy. After some speculation, the TV announcers explained that, apparently, the other fan had caught a foul ball earlier in the game and handed it to the boy as a souvenir. He was just returning the favor.

Sometimes, it’s easy to get so caught up in the negativity around us that we start looking for ulterior motives in every seemingly kind act. But cynicism only breeds more cynicism, and every silver lining does not always involve a cloud. Occasionally, it takes a kind act (or two kind acts in this case) to remind us that fair play, generosity, and sportsmanship are still alive and well — in all areas of life.

Staying on Course

The earth’s magnetic fields are in constant fluctuation. Earlier this year, The Independent (a London newspaper) reported that the magnetic north pole is “currently relocating towards Russia at a rate of about 40 miles a year.” According to the article, this speed “has increased by a third in the past decade” and represents a “faster [movement] than at any time in human history.”

The article goes on to talk about some of the ramifications these changes are bringing about. For example, magnetic compass directions are changing by about one degree per year, causing some airports to have to relabel runways to correspond with the new readings.

I mention this because it illustrates an important point for business owners. Like magnetic north, the business world is in a constant state of flux. Communication channels that didn’t exist five years ago (Twitter, Facebook, etc.) are now essential tools for marketing and customer interaction. Smartphones and handheld devices such as the iPad are changing the way people live, work, and shop. Competition for many of us has grown stiffer, and the rules are changing all the time.

Like airports that rely on magnetic compasses to identify their runways, we must keep a constant eye on the changes going on in our industries and in the business world at large. A one-degree change on a compass wheel may seem insignificant and small, but over time and across great distances, its impact can be severe.

Staying the course isn’t always the best way to stay on course, especially when the course keeps shifting.