Instant Translate

25 Jan 2014

How to Monopolise the Market Like Microsoft When You Are Micro

This small artist monopolised the entire Chinatown. 
Yes, micro players can always monopolize the market if they do things differently.  Yes, a micro like You can become the Microsoft of your industry today.  This is because the market is not absolutely homogeneous and is heterogeneous, that is, each segment of the market is actually different.  Many small players do not realize this and make the mistake of following the market leaders blindly.  They end up with no business because customers would rather play safe and go with the leader than an unknown brand. The following are the 7 ways that any small player can monopolize the market easily:
  1. Do Things That Nobody Does.  Like NEXT Computer (1986 to 1998), it focused on the education market and avoided the rest of the market dominated by IBM-clones PCs powered by Microsoft's operating system.  In fact NEXT was so successful that Apple had to use up all its available cash to buy it over in 1998 to give Apple a headstart in its operating system.
  2. Create New Market.  Like Apple created the new MP3 market with the launch of iPod in 2001. Today the MP3 market is replaced by smartphones, but Apple's iTunes still monopolises the music download industry.
  3. Be the First and Claim It.  It doesn't matter that your product may fail later because being the first gives you the pioneer title that no one can claim later. Like Creative Technology created the world's first MP3 called Nomad in 2001. Although it lost out to Apple's iPod, Creative still managed to successfully sued Apple for over US$100 million damages for patent infringement. Today Creative still dominates the PC audio business with its sound cards and PC speakers.
  4. Operate Hours that Nobody Does.  To the market that needs your services in those hours, you are the monopoly.  Like 24-hour retail giant Mustafa in Little India Singapore.
  5. Create New Products that Start a Trend. Like Samsung created the S-Pen for its Galaxy Note series of phablets and tablets.  Today Samsung is still the leader in this category even though Apple's iPhone is more popular in markets like USA and Japan. 
  6. Get Famous through Social Media like Facebook, Youtube and Twitter.  Today such social media are more recognized than traditional media and people often rely on them for authority.  Many small businesses capitalized on free social media and made their names, leaving the big boys behind.  A good example is Korea's Psy, whose Gangnam Style video on Youtube hit over 1.8 billion views in 18 months and is still the record holder today. 
  7. Work with the Big Boys.  When you support and compliment the big boys, you get a chance to become famous and soon people will go direct to you and in time you'll take over the big boy's business. Like Google's founders Brin and Page was the outsourced search engine contractor for Yahoo! in 1996-8.  Google's search engine's page was nothing except the search bar and this soon become popular. Today Google's over 70% market share of the search engine business has become an engine of change.  
In summary, all small boys can become big monopolies in the markets if they follow the above 7 proven ways. There is no excuse to not do big even when you're tiny, for it's the bigness of the idea that counts, not the size

By Andy Ng, Sales Trainer and Management Trainer for corporates and MNC including SingTel, Capitaland, Singapore Power, AIA, Singapore Armed Forces and Nanyang Technological University. Contact him at andythecoach@gmail.com or visit www.asiatrainers.com for details.  Related articles:

No comments :

Post a Comment