.png)
Sun Tzu Art Of War In Business Strategy: Advice For New Entrepreneurs?
In Sun Tzu Art Of War, Business is War; you must compete to win customers.
Suppose you are running a small start-up or a new company. You will have to compete with companies that have more resources, marketing budgets, and economies of scale.
How Would Sun Tzu's Art Of War Business Strategy Help You?
First, Sun Tzu would choose a battleground that is undefended or an area where there is low competition.
Here is a quote from Sun Tzu Art of War, he said,
You will surely succeed in your attack if you only attack undefended places. You can also ensure the safety of your defense if you only hold positions that cannot be attacked.
When considering where to open your business, you must look for areas where your competition is not as prominent, which can be beneficial.
By strategically choosing a location that is overlooked by other businesses in your industry, you can carve out a niche for yourself and establish a strong presence in that territory.
This approach allows you to focus on meeting the needs of customers who existing competitors may have underserved.
Once you have identified a suitable location, it is important to develop a comprehensive strategy to conquer that area effectively.
This may involve conducting market research to understand the specific demands and preferences of the local customer base. By tailoring your products or services to meet these needs, you can differentiate yourself from competitors and attract a loyal customer following.
How Do You Defend Yourself From Competitors?
In addition to attacking your target market, setting up a solid defense to protect your business from potential threats, including attacks from larger competitors is crucial.
How do you do that?
Build Brand Loyalty
In the business world, competing with rivals is essentially a battle for capturing the customer market. To maintain a loyal customer base, it is crucial to establish strong brand loyalty among your clientele.
With this focus in mind, it is important to develop strategies and tactics that foster strong brand loyalty.
Building a loyal customer base creates a significant barrier that makes it difficult for competitors to gain a foothold in the market. This strategic aspect of branding parallels the principles found in the art of war.
Constant innovation
To maintain a competitive edge, it's essential to consistently launch new products and introduce innovative ideas. By surprising your competitors with fresh innovations, you can effectively capture a larger share of the market.
In business, much like in warfare, it is vital to continuously work on increasing your market share. If you neglect this, you risk losing your current market position to your competitors.
Sun Tzu says,
Always carefully study the enemy's strengths and weaknesses against yours.
Once you know yourself and know your enemy, you will not fear the results of a hundred battles.
Remember, business is like war. Attack the weak and avoid the strong. So you can easily conquer your space in the market.
Comments