There is more than enough work
As consultant I am in the industry of supporting and advising businesses to grow and design their unique business. This means that my target market can be broadly defined as any individual and company who want to either start a business or grow a current business. In South Africa alone there are more than a million registered small and medium enterprises. This number of customers in my industry is a great number to try and work with as one company. I might be able to assist fifty businesses a year. This means it will take me thousands of years to assist just these million-plus small and medium enterprises. I will never be able to do that, not even considering the fact that I must live to be sixty thousand years of age.
Doing this calculation has taught me a few things:
- There is more than enough work. I don’t have to compete with anyone. In fact, I appreciate all the other consulting firms for the great work they do with the customers I cannot reach.
- We need many competitors. Competitors keep each other alert. Your competition brings out the best in you. Don’t talk down on your competitors. Respect your competition.
- Seek ways to collaborate. At xpand, we collaborate with other firms and even would help them build their consulting businesses. We do license trainings for those who want to use our processes in their firms. Together we reach more people.
- Focus on doing your best with the customers your serve. Your service can either harm or build your industry. If a few companies in an industry give off a bad taste in the mouths of some customers, customers will start to distrust the entire industry and all the companies representing it. Do quality work to keep a healthy reputation for your industry.
- Don’t compare yourself. Each company is unique. All the companies serving these three million small and medium enterprises are unique and have a unique role to play.
Tips to grow in taking your place in the market:
- Celebrate your competitors
- Be open to learn from your competitors
- Let go of unhealthy mindsets and beliefs about your market.
- Do your best to promote quality in your industry.
This blog post contains an excerpt from our new book, Design Your Business, by Paul Donders and Cias Ferreira
Get your copy of Design your Business today for R320
Or you can buy the e-book on Amazon https://www.amazon.com/dp/B07RZWBTQH