Is There a “Dollar Shave” Deal Headed Your Way?

Unilever just realized that they “missed it” when it came to competition in their razor space… and it cost them over $1 Billion dollars… the amount they just paid for Dollar Shave Club. They disrupted Unilever (and other shaver products) and created a new product with powerful marketing that captured a huge market share.

This isn’t a new story… it is happening in virtually every industry today. Someone is coming in and causing disruption by creating a better product or service at a lower cost… and appealing to the incumbent’s audience. They are taking away their marketshare with better products, lower prices, and better delivery. With the Internet Revolution taking over from where the Industrial Revolution left off, we are seeing a massive increase in COMMODITIZATION everywhere. This is awesome for the consumer and buyers… not so awesome for the companies that are now having to compete with these disruptors.

From all indications, this isn’t going away… it is going to escalate even faster than we are seeing today. The “barrier to entry” in many industries is so low that someone can show up tomorrow and immediately take away your customers and marketshare. But your costs are still the same and your pricing is based on this cost structure. What do you do? If you are some mega-giant company, you buy them out of the market… just like Unilever did to Dollar Shave. They essentially realized they had to give up $1 Billion dollars to take them out of the market. What would it cost you if you had to take out a major disruptor in your industry? Or could you even do it or would it put you under? These are important and critical questions for any leadership team today.

While this may sound like doom and gloom, there is a silver lining to this situation. There is a way that companies can help avoid this trap of commoditization. There is a way you can do battle with a “disruptor” coming into your market.

It’s what the most respected consulting and research firms have been telling us for the past few years…

Create a company based on an INCREDIBLE AND AMAZING CUSTOMER EXPERIENCE and you can either avoid or at least survive a disruptor entering your market. There it is… the strategy to combat this wave of disruptors and “bottom feeders” in your industry. A way to set yourself apart and let them feed on your competitors. A way to avoid commoditization and survive the disruptor revolution!

And if you think about it… if you are in an industry where everyone is viewed as a commodity, if you create an AWESOME CUSTOMER EXPERIENCE you can essentially be the DISRUPTOR in your own industry. I’m not talking about a GREAT EXPERIENCE… I’m talking about an INCREDIBLY AWESOME, AMAZING, AND REMARKABLE EXPERIENCE… one that causes your customer to say, “WOW, you are amazing and treat me better than anyone else in your industry by far.” When they say this, you have become the disruptor and the one that everyone is going to try and compete against.

Today you not only have the answer to how to avoid this disruption, you have the ability to eclipse all your competition and BECOME THE DISRUPTOR. It takes these key ingredients…

  • Vision by Leadership – the top person in the company has to lead this effort
  • A change in Business Strategy
  • A specific model to create these awesome customer experiences
  • Focused effort… by everyone in the company
  • Employees that embrace CUSTOMER OBSESSION
  • Staying the course to change from a “product/service centric” company to a “customer centric company”
  • Someone to lead you through this new vision of disruption

Are you up to the challenge? Are you willing to admit you are exposed to disruption in your market and that there is probably a “Dollar Shave” company being developed right now that can come into your market at any time and disrupt it? You can view this as a THREAT or an OPPORTUNITY in your company. I love to look at things like this as incredible opportunities to not only disrupt but to lead. If you are as well, maybe this is your time to strike… your time to DISRUPT YOUR COMPETITION.

Developing A Business Startup Success Strategies That Work

It can be easy to lose sight of the very reasons why you wanted to open your business startup. You can get wrapped up in the day-to-day operations, leaving little time to focus on what makes your business startup standout in the market. Having a strategy in place that allows you to keep you motivated can ensure your business stays on a path of success.

Fall In Love With Your Business

Any business that you invest your heart in soul in should be the great love of your life. You need to nurture it and watch it grow. Having a real passion for what you are doing and the products and services you sell can make your business startup a real labor of love. You should have a real hunger that drives you to do well. Making your business startup idea one that you can stand behind and love to eternity is the first step in achieving success.

If it seems that you are losing that connection with your company and not really feeling the love, take a step back and allow yourself to remember how it all started. This can spark your emotions for your business and allow you to fall back in love with what you are doing. Your passion for your business is often times enough to get you through the challenging times.

Surround Yourself With Good People

From your employees to your professional network, the people that you surround yourself with can have a strong influence on your business startup. These very people can give you new ideas and help educate you on your business’ operations.

Having positive people to lift you up can be a strong motivator and allow you to have someone to bounce thoughts off of when you feel uncertain about a decision. Use your network to gain valuable information and learn from your peers on what mistakes to avoid. They can prove to be a big part of helping you run your business and ensuring it is successful in its endeavors.

Don’t forget your employees; they can be a big part of keeping your focused on your business startup on a daily basis. Good employees will drive your customer service and in turn your revenue. When your employees believe in your business and the vision you have set for it, it makes it that much more important that you deliver now and into the future.

Create A Marketing Strategy

Having a marketing strategy in place to promote your business is necessary to help achieve strong revenues. You should have prepped and planned a strategy that you want to adhere to market your business startup to your customers. It doesn’t have to be a large portion of your budget, but it should include some effort on your part.

Think about where your customers go for their information. Be visible to them and make sure you use every opportunity that is available to you to market your business with both new and existing customers. Try social media, check into local advertising, hold and an event, and use what is available to you to reach your customers and introduce your business’ products and services to the masses.

If you stay aggressive with your marketing plan, you are sure to garner the attention of your current customer base as well as a new group of potential clients. This can bring in more revenue and keep your business startup on a path of success.

Get To Know Your Customers

It is your responsibility as a business startup owner to know everything there is to know about your customers. You should have a strong idea of who they are, what their likes are, and where they are located. When you truly understand your customers, the more effectively you can serve them with your products and services.

While your attention may be turned toward gaining new customers, don’t lose sight of your current clients. They are the bread and butter of your business, and you want to make sure you are not replacing existing customers with new customers at a losing pace. Show your loyal customers how much you appreciate their business. Without them, your business will only see marginal success, and you want to make sure to grow your business startup rather than be stagnate in its approach.

Take Time For You

It may be difficult to imagine, but you need time away from your business startup. You may think that you can’t take time away or that your momentum will crumple without you, but taking a vacation every now and then is one of the best things you can do for your company. When you step away for a moment, you allow yourself the opportunity to recharge and refresh. You’ll be able to see your business in a new light and be surging with motivation when you return.

You’ll be surprised at how much a vacation from your business startup can do for you. You’ll be filled with new ideas and solutions to problems that you previously thought unsolvable. Being able to see your business from a new angle can be just what you need to take it in a new direction, move it forward, or reach to new heights. Your business startup will appreciate the time you took, and you will be ready to take on new challenges with a fury as your drive will be restored and you will feel anew.

Plus, you have good people surrounding you that you can trust to steer the ship when you are away. Rely on your employees and allow them to do what you hired them to do. You’ll be pleasantly pleased with how quick they are to pick up the slack when you are away and the positive results you’ll see upon your return.

Having a strategy in place can ensure your business stays on track and experiences great success now and into the future. It is important to stay focused, think about your customers, and take a break when you need it. By embracing your business startup and trusting in yourself, your business will reach the success that you deserve and have always envisioned.