Entrepreneurial Judo

What you want to learn from this rule is
that you must keep your marketing edge
sharp so that your competitors don't find
new markets before you do. Or find your
existing customers because you've become
complacent.

Entrepreneurial Judo means entering niches where
the odds favor your success while not becoming
victimized by that success when it happens.

Times have changed. Marketing is more
prominent and data are more available. More
and more people are learning to be guerrillas.
Levinson says that the best way to avoid
becoming victim of someone else's marketing,
is to avoid these 5 bad habits:

1. Arrogance
Also known as "not invented here". Don't
hesitate to use an innovation or brilliant idea
just because it comes from someone else.

2. Creaming the Market
Don't limit your target to the biggest. The "little
guys" are big consumers and will flock to the
competition when they receive poor service.
Make your competition vulnerable by offering
innovative service, faster delivery and
flexibility. Over 95% of businesses are
"small". Lots of cream beneath the surface.

3. Misunderstanding Quality
This is about making sure that you keep the focus
on how much the customer gets from your
product, rather than focusing on your level of
effort. Don't try to make the car bigger when
your customer wants smaller and more economical.

4. Premium Prices
This one is straight forward: the best way to
maximize profit margins is to lower costs, not
with premium prices.

5. Maximizing Instead of Optimizing
If you have a product with a limited market,
consider optimizing the usage rather than
maximizing quality. Think ipod.

A great example of "entrepreneurial judo"
is marketing where you have no competition.
What could be your version of selling
firewood at a gas station?

Remember, guerilla marketing is about
maximizing profits, not innovation for
its own sake.

Plan, execute, measure.
You can take that to the bank.

(c) 2006 Steve Brewster
Leadership & Executive Coach
403.283.5706
www.brewsterconsulting.com
steve@brewsterconsulting.com