Meanwhile, recent merger and acquisition activity among major corporations is ushering in a new age of giants: giant drugstore chains (Walgreens/RiteAid), beer companies (Molson Coors/Miller), health insurers (Aetna/Humana and Anthem/Cigna) and airlines (American/US Airways), to name just a few.
Mobe Review :Market Domination
That should be the goal for just about any business, according to Peter Thiel, billionaire co-founder of PayPal and the lesser known Palantir Technologies, a U.S. based software company tapped by government agencies, as well as a number of companies in the financial and healthcare industries.
Here are five Matt Lloyd Affiliate Program Tips to help you create a monopoly of your own.
1. Riches in the Niches
Trying to be all things to all people doesn’t work as a smart business model anymore. For proof, just look at your local fast food options. Whereas McDonald’s, with its extensive menu selections aimed at enticing a wide variety of appetites, is losing sales, specialty fast food chains like Chick-fil-A are booming. By limiting its focus to chicken dishes, the company is dominating its niche.
2. Grow Incrementally
As a big fish in a small pond, you can explore the tributaries leading to deeper waters when you’re ready. This should be an incremental process that begins after you’ve effectively monopolized your niche. At that point, you can move into slightly broader markets.
3. Disregard ‘Disruption’
“Disruption,” which once referred to the business practice of unveiling new products at low prices and steadily building upon them until, ultimately, they overtake their competitors, now means something else.
4. Know How It Ends
Quite often, entrepreneurs obsess over being first to the market, hoping to capture the first-mover advantage and be first to claim the rewards. More often than not, it’s smarter to move slowly with clearly articulated goals. Start by knowing where you see your company a year from now.
5. Purpose Matters
Mobe Review : Clientele with the deepest pockets are drawn to businesses that exhibit higher callings. If your company is trying to be all things to all people, your guiding principles may be unclear, or your business may be perceived as suffering from an identity crisis.