Comments
Giants come in all shapes and sizes, as do the Davids that slay them, says Stephen Denny in Killing Giants: 10 strategies to topple the Goliath in your industry(www.landmarkonthenet.com ). Clarifying that the question is about smart versus brawn, the author notes it is not always about small companies fighting big ones, although this is most common.
There are some very nimble big companies and there are stodgy bureaucracies to be found in the smallest organisations that would suffocate the best ideas, he adds. “Sometimes the giant is much smaller than you are, a well-entrenched niche player, while you are a tiny division of a global enterprise, looking to carve some business out for yourselves with corporate looking over your shoulder. Often it's the story of a start-up fighting against an industry incumbent.”
Where to fight
The first of the ten strategies is to choose ‘thin ice,' rather than fight the giant on its home turf. This is a war of nuance, taking advantage of your ability to hijack the conversation and play in areas where the giant has little to gain and less time to do it, says Denny. “Pick a fight in a place where they can't beat you and you'll often find the giant has no interest in fighting at all.”
An example cited in the book is of Baidu, which took on a giant, saying ‘We speak Chinese better than Google does.' Baidu did what the giant never thought to do, producing products that worked locally without worrying about whether these worked globally, and driving home the message in an unmistakable manner, explains the author.
Culture of speed
Next in the line-up of strategies is ‘speed,' in decision-making, execution, and customer activation. “Giants have a culture of process. You have a culture of speed. They enter a first-phase evaluation. You launch a product. They form a steering committee. You launch a second-generation product. They form a ‘tiger team' to study your first-generation product while you ship your third-generation product. They can't hit what they can't catch. Win on speed.”
The right natural gifts, the right training, the ability to perform under pressure, and the overriding desire to win are the traits on which ‘speed' cultures are built, the author outlines, drawing insights from the way pit crews perform. “Shared experiences forge bonds within individual teams, and competition between the four ‘corner' teams ensures that no one gets too comfortable, resulting in everyone regressing to a faster and more competitive mean.”
The last three feet
The third strategy is ‘winning in the last three feet,' inspired by an old retail expression meaning that it is never over until it is over.
“You can have a brilliant campaign – or a brilliant product – but you can't assume the rest will take care of itself.” Never assume your potential customer has already made up his mind, the author advises.
Reminding that there are many opportunities to take advantage of a rising tide, he urges that you just have to be there when it happens, ready to do business. “Can you catch the attention of half your giant's customers? A quarter? If you can take 10 per cent away at the point of influence, you've done your job. You don't have to win everywhere. Concentrate on winning at the point of influence. Concentrate on finishing well.”
Imperative read for the giants, too.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.