by Ron Burgess
The secret to small business success is not what Fortune 500 companies or highly paid business coaches say. It isn’t that your company is simply better at something. It isn’t that you are bigger than your competition. And it certainly is not that you have a pretty logo, or great tagline.
Success comes from finding an unfilled crack in the market, filling that crack and defending it.
So the question is, how do you find a crack or niche in the market place?
As a long-time business consultant and owner of three businesses that outlasted the statistics, Ron Burgess has spent twenty-five years studying highly successful small businesses. Throughout his career, Ron’s work with other management consultants, his intense understanding of each client, careful observation of markets and a lifetime of research began to speak to him. What eventually emerged was a completely new paradigm of thinking.
It turned out that almost all greatly successful businesses dominate very small market niches. They had found a crack in the market. For differing reasons, whether recognized by the owners or not, these businesses exist in small markets where the competition is minimal, or they have done a good enough job in the niche to have become one of the top three in that market.
Finding your crack in the market is the secret sauce, a place where you can do what you do well enough to have customers that want or need to buy it. With little competition it’s like selling water to the thirsty in the desert. Anyone can do it.
But businesses still need to recognize when they do not own the niche market, or if starting out, where to look for the crack, and how to position the company to create a crack. Burgess calls this new approach “market emplacement.” These issues and more are found in his book “Finding Your Crack in the Market.” Packed with insights based on sound business and marketing principles, this is a must-read for anyone who owns or manages a small or medium sized business.