The strategy is very important in any industry. Whether it is a small cottage industry or a large corporate company, it is imperative for the company to stay in its business, seek the unified support of its customers, and face its competitors. All businesses, starting from small businesses to today’s big tree, have a strategy. I hope that through this article you will be able to set the strategy for your small business.
A strategy is a unique process that we practice for success. These vary from place to place and from time to time. You must decide what kind of process is appropriate for your business and how it differs from others.
Here I introduce you to three great sections on Strategy Setting.
Classic products or services
Some customers look at the product’s form and quality rather than the price. Are you an Apple phone holder? Have you ever had a crush on it? Do you think it’s a proud thing to keep it? Why do you think so? It is ten times more expensive than a normal smartphone, why we love it because the product is so classic, the material has the most classic design and capability. It has a classic quality. It contains classic uniqueness.
Bryant McGill, a famous writer in the United States, says, “There are no competitions at the top.”
If you think you need to rise above your competitors, do your best to achieve greatness! Whatever product you make or whatever you do, make it the most effective. There are no competitions at the top of the mountain because of its excellent attacks on form, skill, action, and quality।
Can you sell products at a lower price than your competitors?
Can you prepare for a lower price?
Lower prices do not mean cheaper products. One small example is that in the 1950s, there were 3 major companies in the United States that were the world’s top car sales. 80% of the world’s cars are made from the US.
But Japan recovered after World War II. They refined the processes which were learned from the Americans and gradually improved the factories to make them more affordable and cheaper to challenge the auto industry. In thirty years, Japan has succeeded in implementing the highest quality and affordable car manufacturing strategy in the world. It broke the idea that luxury cars were just what Americans wanted. So, lowering prices does not mean lowering quality. But maximizing efficiency and mainly depends on improving the process.
If you can manufacture and sell goods at a lower cost than your competitors, you can adopt a compact price strategy.
High-speed products and services
Will you choose the services that come to your home? Or do you prefer a stand-up system? All the major e-commerce companies in business today are working on this strategy. You can get it at home within 24 hours of your order. The car is on your doorstep for your journey within 15 minutes of your clicking on the smartphone. Your home is looking for hot food in half an hour you order. You can know that the strategy of these businesses has an exponential function in mind. If you can perform faster than your competitors, this strategy will bring you, great customers.
Great product, compact price, or fast service.
I congratulate you on using these strategies.