“Who’s afraid of the big, bad wolf?” Is a line from “The Three Little Pigs” children story. They were referring to the local wolf who was interested in adding the little pigs to his afternoon menu. After some trial and error, they found an appropriate hideout where they were able to hole up until said beastie blew himself away. Apparently, they took the time to get to know their adversary, his strengths and weaknesses and how to avoid becoming the main menu item at his dinner table.
Of course, as a business leader, you should have the same information about “ravenous beasts” that are lurking in your marketplace, seeking to maim and devour. You should have some system of taking some time to just scan the marketplace to see what is new out there. Look in your industry, look in industries that serve the same market, look at the marketplace.
Do you know who your target market is? How are they responding to changes in the marketplace? Who are the new entrants? What are the new trends? Are there opportunities that you are missing out on?
There have been too many business leaders who haven’t taken the time to survey their marketplace on a regular basis. As a result, many are out of business. Virtually none of them have become extraordinary. Very few, if any, have gotten their business to a point where it can run itself outside of the watchful eye of its owner. Plainly said, we can do better than that.
So make a commitment to yourself and your business to survey your marketplace, so you don’t need to be afraid of the Big Bad Wolf.
Aepiphanni Business Solutions is a Strategy Consulting Firm dedicated to serving the needs of business leaders and executives. We specialize in helping people get into business, and stay there. We welcome clients in the personal and professional services industries, including restaurants, catering and event planning. As always, we welcome your comments, thoughts, questions and suggestions. If you are seeking a business assessment, or have further questions about creating your strategy or developing your vision, please give me, Rick Meekins, a call at 678-265-3908, or email us at [email protected].