Day in and day out things can often seem the same. As entrepreneurs we can get into the habit of keeping our head down and focusing on the numerous tasks and requests being made of us without looking up to see what’s going on in our market. Our businesses can often feel stagnant or uninteresting depending on the day of the month or the circumstances we are fighting against. The antidote for getting unstuck is to find inspiration. This can happen when we meet with other individuals or when we learn about what other companies or businesses are doing to keep themselves relevant and competitive.
Being the market leader means earning a disproportionate share of the profits available.Dylan Gallagher
The space race has clearly begun and may prove to be a moment we all reflect on in the future and realize that our world has become a better place through learning and discovering that was done as private businesses learned how to go to space. Between Space X, Virgin Galactic and soon to be Blue Origins, there will be no shortage of opportunities in the “space market” to provide services and products that people can take advantage of and experience.
If someone were to ask you “what is the most exciting trend in your market today”, how would you respond? If you didn’t have a response then an opportunity might exist to create a new trend and to use it as a competitive advantage. If you have an answer, then how is your business participating in the trend? Is it a leader or a follower? We all know that businesses are either growing or shrinking and there really is no middle ground. If you can’t find a trend, create one. Use it to your advantage until your competition catches up (if they do) and then do it all over again. Being the market leader means earning a disproportionate share of the profits available.