Burgess focuses on how to go deeper, specialize services to consumer demand and increase perceived value through quality.... Read the full review.
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.
I define emplacement as the process of placing your company between your customers and your competition. This is in a more physical and less mental sense. The smaller your niche, the fewer competitors you will likely have. The more competitors you have, the tougher it is to “protect” your customers. This can be done with products within your niche market as well. Add the mental positioning of the customer mind and the differentiation can be realized.
Market emplacement and positioning your company probably have more to do with the success of your marketing than any other activity that follows.
Many businesses take their customers for granted. Oh, they think they know them because they talk to them when they order, or review the sales etc. Unfortunately, I very rarely work with a new client who knows everything necessary to know about the client’s customers.
Businesses do have a range of touch points between customers, so I will need to generalize. If you sell movie tickets or hot dogs, you are in a very transactional business. Customers want to exchange money for the experience or tangible product. You can only infer information about customers from other information. If you are an accountant serving a business, or you supply products to retailers, you will tend to have a string of transactions that can develop into a relationship. Relationships occur between companies, as well as among people within companies. Both of these types are useful. But we want to create data that is useful to understand the nature of the customer.
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Learn what the real elements of business success are, contrary to academic teaching, and why many consultants think it’s not management prowess.
Some people don’t have what it takes, others may, but don’t have the lifestyle or discipline to run a small business. Find out more about what wealthy business owners are like and what they did to become successful.
Learn about the three ways to grow and how market types change the strategy for each. Certain industries with different competitive intensities require heavy marketing, while others need no marketing at all.
Many examples of how new market niches are developed continually will help you find new ways to define market niches, and innovate into new product areas and markets.
"If you are thinking about starting a business or want to grow an existing one, this book is a great guide to becoming a niche market leader. Burgess inspires the entrepreneurial spirit to soar high as the things that differentiate companies are not always Ivy League education or family wealth."
Suzanne Cowles for Reader's Favorite
“As a former small businessman, it is excellent. I would highly recommend it."
Michael T. Landers, MBA
“An entrepreneur or small businessman can really get his business on the right track with Finding Your Crack in the Market. It's a well-organized read - great for the business owner.
I really ‘got It’ in the summary of the first chapter. That was great and set up the rest of the book.”
Russ Cornelius, Certified Brand Strategist