THE VISIONARY CHRONICLES PODCAST
The Art of Competition | Creating a Strategy that Overcomes Competitive Forces
"Know your enemy and know yourself, and you can fight a hundred battles without disaster."
Wisdom from Sun Tzu, The Art of War
The Forces of Competition, which determine strategic planning and marketplace execution, are shared among all industries. Those who can anticipate both industry and competitive moves will succeed for generations.
Anticipation is the "Art of War", and brands who fight and win the battle without having pulled a sword are the ones who have mastered the "Art of Competition". But, unfortunately, many have gone to war and have shown nothing for their efforts; a strategy built on a foundation of brute force inevitably fails.
Find a way to determine outcomes before they are fought, and you will build a team and a brand set on a solid foundation, a fortress others can not enter. Creating a culture where everyone knows their role, works together to ensure the foundation stands, and others envy what you have made and want to know your vision of the future. The best they can hope for is to follow in your path but never lead.
There are several forces brands must be aware of to execute The Art of Competition in the marketplace.
With this scenario, new blood is the latest entry into your category, one who has a new idea, provides a potentially better service or product.
Combatting this competitor takes anticipation, an innovation process, and the ability to never look over your shoulder. Each of these allows a brand to move ahead with your Vision while ensuring this new blood is blocked or eliminated from establishing a beachhead without you doing anything different. Changing course is not an option, but pivoting without disrupting your business is critical.
The scale was a strategy many were caught off guard by during the pandemic, and most were unable to recover in whole or in part.
To attain sufficient scale with a manufacturing matrix with the core competencies needed to produce a consistently excellent product and out-innovating yourself first is the winning formula.
Loyalty, recurring revenue, and value creation are foundational to longevity. These pieces of your foundation will create a wall no competitor can climb.
This takes consistency, an understanding of who your customer is, what they value, and why they buy your products is a strategic weapon built off your team's shoulders.
The Imitators, not the Innovators, are the commodity players. They are not be feared, but rather these are the ones to be called out and challenged at every turn.
Imitators take great Ideas and churn them into products of inferior quality and lower-tier price points. As a result, they do not build a trusting, loyal community that embraces value provided by the brand, but rather a following looking for the next significant "draw-down".
Some have been successful with this strategy, but this is like building your foundation on the sand vs. rock. YOUR CHOICE.
The most threatening part of a brand executing its future Vision is its direct Rival, those who have authentically built a loyal community, created their innovation pipeline and stayed true to their foundation.
They are to be respected, but the Art of War principles are genuinely beneficial and provide the most benefit. You want to anticipate the moves of your Rivals, find ways to outflank them, diminish their impact, and put the fires out before they start.
The Art of War is winning without having gone to battle. So what can you do to anticipate your Rival's next move and step out and take risks, never to relinquish your lead?
The Art of Competition is understanding the landscape, anticipating your Rival's moves, outflanking your Competition, and finding ways to win the battles through a strategy where you never have to draw your weapon! Find a way to win!
Stay True, stay Authentic, be Different, be Great!
Enjoy the Journey!
Bryan Smeltzer, President
© All rights reserved, Bryan Smeltzer, 2022
In my new Podcast, The Art of Competition | Creating a Strategy that Overcomes Competitive Forces, I discuss the Idea’s around anticipation and the Art of combatting your Competition through strategic mastery.
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