In 1964, two men shook hands and formed Blue Ribbon Sports, a running shoe company, inspired by a Japanese company.
Five years later, on the suggestion of a friend, that company became Nike. And it revolutionized the world of sports and athletic clothing.
One of those two men was Phil Knight, who ran track at the University of Oregon, under legendary coach, Bill Bowerman, the other man in the business agreement
Nike’s pioneering approach to shoe design launched a flood of competition, as companies like Adidas, New Balance, and Puma sought to steal their share of the burgeoning market that Nike created.
Phil Knight once said, “Business is like a war without bullets.”
In business, we battle for territory—whether that’s mastery over a geographic region or a particular vertical market. We study the competition’s strategy, learning their winning ways and identifying their weaknesses. We take aim at conquering their territory. Coca-Cola and Pepsi have been at it for years, introducing new ad campaigns and new brands to take consumers away from the enemy. Both have had victories and epic failures. Yet, their battle wages on.
How are you fighting the war with and on your business? Are you strategizing ways to better define your value proposition? Are you identifying aspects about your homes, properties, construction, and service that differentiate you? Have you tried different approaches to overcome potential threats from your competitors?
You will not succeed in a stagnant position. The enemy will know where you are, who you are, and exactly what and how you sell. You’re an easy target.
The dynamic business with visionary leadership thrives. They are finding ways to invade territory that has been “owned” by other companies. They’re adding new designs to their arsenal. They’re looking at under-served markets that present sales potential. And they’re examining the way they manage their own troops—their sales force—to ensure that these front-line soldiers are armed with the knowledge, product, sales training, and ammunition to be successful.
The housing industry is rebounding from the housing bubble that burst about eight years ago. The survivors of that horrific devastation adjusted to the drastic downturn that crippled many developers. They fought through the tough times, having learned how to be agile and adapt.
Yes, the housing market is improving, but you still must be prepared to be tough and vigilant. Every sale you lose is a battle lost.
Myers Barnes is America’s favorite new home sales trainer, author, speaker and consultant. For more information, please visit www.myersbarnes.com.