The best companies out there are the ones who come up with the best ideas, not those who can use economies of scales to squeeze out and crush their competition.
If you want to make a dent in the world, you need to put forth products and services that are truly revolutionary compared to what is currently being offered.
By nurturing a creative process that is capable of churning out ideas that fundamentally change how people live their lives, you will do this more often than not.
From crowdsourcing software solutions that allow multiple minds to come together to brainstorm new approaches to existing problems to mindset strategies that force you to consider how other people live, there are plenty of ways you can defeat competitors who are set in the ways of the past.
Below, we’ll discuss strategies that will allow you to emerge victorious when you go up against other businesses in your niche.
1) Use crowdsourcing software to allow unparalleled team communication
The days of a company having one physical work location are through. Thanks in large part to the outsourcing revolution, the world of work has gone global, meaning that you can feasibly have staff in Chicago and Colombia at the same time.
However, long phone calls and endless e-mail chains can strain productivity when you’re trying to get your dispersed teams to work together on a project.
Instead, smart companies have utilized crowdsourcing software to allow teams in different places to work on solutions to problems in real time.
From the opening brainstorm to the final delivery of the solution to the client, the effectiveness of these programs are nothing short of a game-changer.
Therefore, those looking to out-innovate their competition would do well to take a long look at installing these types of programs on their networks.
2) Those who add more value win in the end
Want to beat the pretenders breathing down your neck? Simply ask yourself this every time you are working on a product or service: how can I add more value than my opposition?
Aim to create a product so amazing that people are willing to spread the word about it in a viral manner.
For example, if you find a way to develop a supercharger that can boost an electric vehicle to full in less than three minutes, you’ll soon have a long line of customers, as the world is beginning to shift towards having an all-electric fleet.
In short, add massive value and the accolades will follow.
3) Focus on fun and excitement
Business can be boring at times, but when the focus is on fun and excitement, success follows more often than not.
Companies often take themselves far too seriously and as such, you can often outflank them by offering consumers something light-hearted and enjoyable.
Virgin Atlantic took this approach when they challenged British Airways for a chunk of its market share. Today, they are easily this legacy carrier’s biggest competitor, as they counters BA’s stuffiness with a product that is fun, hip, and sexy.
Their clubhouses (i.e. their airport lounges) are an excellent example of this. Rejecting the stale and boring makeup of existing lounges, this concept has an amazing bar filled with top-shelf booze and food, an on-site spa, and fun chairs that will make you feel like a rock star.
When you consider this, it is no surprise that have attracted the following they have built for themselves.