When you make a decision to become a market leader and that you're going to own a market leading business... it's rather like making the decision to go to the moon.
It's a decision that not everyone is brave enough to make. It's also a decision that once made, gets under your skin, makes the hairs on the back of your neck stand on end and you set about immediately doing what needs to be done to build your rocket.
Size means nothing these days when defining a market leader, some of the most profitable companies have tiny teams running the show meanwhile lapping up the majority of market share. With technology making it far easier to do business we can achieve market leader status considerably quicker and with much less (wo)manpower. However...
A lot of businesses will never achieve market leader status because they just don't have the true desire to build a business for the long haul - hobby and lifestyle businesses that are built around being able to choose your hours need go no further down this rabbit hole.
Most businesses who have the dream to become market leading will still never reach market leader status because they fail to pioneer new solutions for their market and fail to strive for excellence in every area of their business.
And the sad news is - most businesses that don't decide to become a market leader, gradually fade into the background, they scale down and move onto the next thing that takes their fancy, always side stepping but never attempting the bold act of market domination.
Becoming a market leader isn't something you need to be convinced of, it's either an in built goal or it's not. If you're reading this and the market leading mountain looks less like hard work and more like an Everest to be conquered then you'll be part of the exclusive 1%.
Although as the infamous Edmund Hillary puts it - 'It's not the mountain we conquer but ourselves.'
If you've made the decision, it's time to decide with action. Below I have outlined a scorecard for you to rank yourself and create an action plan to move forward. In order to achieve market leader status and stay there you should be striving for excellence in each of these areas.
Exemplar market leading brands that do this well - Richard Branson/Virgin, Facebook, Tik Tok
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Exemplar market leading brands that do this well - Rab, Smart Water, GoogleScore Your Business -
It's no longer enough for your USP to be your personality, your longevity or how good you are at something - the market is far too saturated, sophisticated and bored for these golden oldies to be wheeled out. Every one of your competitors could say the same thing and do. It's important in this day and age to create a concrete USP that is one of a kind.
Exemplar market leading brands that do this well - Spotify, Dyson, GoPro, Tesla/Elon MuskScore Your Business -
If you'd like to learn more about creating a market leading, groundbreaking USP that your market can't get anywhere else, then make sure you download my free Market Leader Guide by clicking here!
Looking to the future can cause many business owners anxiety, but if you are to navigate the ever changing landscape it's imperative. In a lot of cases, a negative outlook like a recession is a great opportunity to take the lead as a market leader by adjusting your sails. Creating better solutions, providing peace of mind and hope during unsettling times positions you as a company who cares about their customers and as a leader to guide them through the uncertainty.
New developments in your industry can provide new opportunities for innovation and leadership. Early adoption of new discoveries is a great way to really hone in your niche and cash in on helping your market navigate these opportunities.
It's also about predicting the growth of your business and how you are going to adapt to that growth in terms of business model, systemisation and processes. A business without concrete / signature products and systems is not futureproof and relies on YOU to constantly hold the organisation together.
Exemplar market leading brands that do this well - Amazon, McDonalds, Netflix
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That's not forgetting that giving your clients outstanding results consistently goes a long way to gaining the loyalty of your current client base AND market.
Exemplar market leading brands that do this well - Apple, EverTrek, DPDScore Your Business -
Writing a book on your specific niche, speaking, collaborating with key persons of influence and creating case studies/white papers are just some of the ways in which you can position yourself/business.
Exemplar market leading brands that do this well - John Lewis, Tesla, Neals YardScore Your Business -
Exemplar market leading brands that do this well - Steve Jobs/Apple, Microsoft, AmazonScore Your Business -
Then make sure you click here to download my FREE Ultimate Guide to Becoming a Market Leader so that you can speed up your journey and dominate your market.
In this guide I reveal -
Jen Hall is Business Clarity Coach for Coaches, Consultants & Experts who want to become Unrivalled Go-To Experts. Jen not only gets you clear on your micro-niche, message and what makes you unique and desirable, but she helps you to define what makes you an irrefutable offer to the market so you can position yourself as a high-end 'must have' option for your prospects. She is a Multi-Award Winning Speaker and Best Selling Author of Expert Unrivalled.