History has taught us that the little guy has consistently proven himself as a force to be reckoned with.  This precedent does not fail to carry over into the world of business.  Often times, it is the little guy, the upstart, or a previously overlooked small competitor that provides large, established companies with the hardest of attacks.

Time and time again, this small competitor is barely addressed in strategic meetings or even pushed aside altogether.  Simply because established companies have weathered attacks in the past and persevered does not mean that this approach will work forever.

When these attacks comes, they should be considered carefully.  What basis are they competing with us on?  Are they actually offering something better than us?  Are our offerings sub-par?  Can we improve upon them and increase our own competitiveness?  Should we avoid a price war?  Should we open a new front?  How do we avoid cannibalization with our counter-attacks?

Each situation will vary.  In some situations action is warranted and in others, it is not.  The important thing is to simply not ignore attacks.  Each should be analyzed for effectiveness, potential impacts and severity and a plan should then be established for addressing it.

Every savvy entrepreneur knows the value of pertinent trends when strategizing, especially for start-up businesses.  Although trends play such an important role in strategizing, they are often not used to their full potential.  Many times, the surface of the trend is solely examined, while its deeper meaning is ignored.

For example, one of the most prominent trends today is that of the growing number of green consumers.  Over the past several decades, but especially in the new millennium, companies have been going green; changing core mandates to include factors such as carbon footprints and overall impacts on the environment.

However, adjusting mandates and mentalities is simply step one of the process of successfully incorporating trends into a strategy.  Companies must be able to truly understand the meaning of the trend.  Going back to the example of green consumers, companies must be able to see that many of the same consumers are also wary of companies trying to adapt to sustainable and environmentally-friendly initiatives.  Therefore, the strategy must not only take into consideration the green consumer, but also to the skeptical consumer.

Overall, it is important not to just look at a trend superficially and address it as such; a company must delve deeper to meaningfully and successfully incorporate a trend into its strategy.

If you would like to read further on the topics of trends or green consumers, feel free to contact us and we will provide a list of interesting and relevant articles.