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Saturday, Apr. 30, 2016

CAEDC Action Report

Thursday, February 24, 2011

Herd mentality?

Are you a victim of herd mentality? You've seen the shows on TV where the beautiful herd of wildebeests is stalked by predators such as lions and hyenas. The massive group slowly moves across the lush plain, grazing as long as the grass holds out. The lions, hovering nearby, carefully observe the herd, looking for the weaker animals that can easily be separated from the herd and turned into a meal.

Your brand, like the wildebeests, can grow and thrive, wither away, or be eaten by the competition. So, just what is the best approach to survive and grow as the economy begins to recover, and where are opportunity and competition are heating up?

You can stay in the center of the herd and not attract attention. It's also the area with far less food. The grass is sparse, and what exists is just not that tasty. Like the timid wildebeests, many businesses like it in the middle where they can be safe and they are surviving off the scraps left behind by others.

Similarly, some company owners and managers reap huge rewards by taking risks by developing a strategy that is bold and has calculated risks. They effectively place themselves in front of the herd, becoming the leader that others want to follow.

So what makes your company the only one of its kind? If you can find two or three points that differentiate you from your competition, then you have unique selling points that can distinguish you from the rest of the herd.

The front of the herd is a scary place. It takes great courage to step out front and graze in the tall grass. Not only are you in plain sight of the lions, you're walking among the leaders. It can be uncomfortable at first with everyone looking at you, wondering what you're doing.

When prospective customers look at the herd of service providers, does your company stand out as one that belongs in the front or is it just one among a mass of similar providers. Perception is reality. Brand loyalty and the opportunity for leadership are hard to come by when there are so many choices and few differences. It may be time to take a risk and step to the front.

Are you a follower or a leader? I sometimes find myself with people who spend an inordinate amount of time talking about their competitors. They may admire them or fear them, but in essence, they want to be like them and share their success. But all too often, the required risk, courage, and expense is just too scary, so they retreat to the center of the herd where they can blend in and feel safe.

Here is an opportunity to begin to move your business from the center of the herd. The Small Business Development Center (SBDC) is presenting "Guerrilla Marketing" on March 9 from 10 a.m. to p.m. at Western Iowa Tech Community College in Sioux City. It will be only $20 per person with a lunch provided. Effective marketing is the key to business survival, growth and success. "Guerrilla Marketing" gets you started. Gleaned from the same ingenious strategies detailed in the best-selling series, "Guerrilla Marketing" that delivers a powerful summary of essential marketing tactics while taking you to levels of success you may have thought unreachable. "Guerrilla Marketing" encourages busy business owners to face the excuses of time, money, or motivation and take dynamic strides toward new customer acquisition and increased sales by following this unique marketing blueprint. Call (712) 274-6404 today to register.