Big doesn’t always win. In fact, with these strategies a small company can find itself with a distinct competitive advantage.
Whether you’re launching a startup or have been struggling against a larger competitor for years, there are ways you can turn your small size into a sizable advantage, writes Kaihan Krippendorff, author of Outthink the Competition. In an article for Fast Company, Krippendorff uses the example of new children’s media company Ruckus Media to illustrate how smaller upstarts can utilize a game plan that emphasizes their nimbleness and adaptability to compete against established companies with more resources and, in fact, use their size against them.
While traditional competitors may be busy focusing on engaging in the current marketplace, innovative entrepreneurs look to move early to the next battlegrounds, Krippendorff suggests. They also recognize that competitors’ commitments are also restrictions. A rival company may have a massive distribution system that works great today, for example, but when a new, more effective model is introduced they may be slow to adopt “because they are too invested in what they have built themselves.”
With the right strategy, not only is bigger not better, you can also turn it into a disadvantage for your competitors. For more, read the full article here.
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For more on taking advantage of your company’s size while it’s small, read this post on the opportunities startups and small businesses have that corporations are envious of. And for examples of why bigger also isn’t necessarily better in the VC world, read this post from the OpenView Blog.