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Tom Peters on how to eat WalMart’s lunch:
– Be niche-aimed (Never, ever be “all things for all people”).
– Never attack the monsters head on! Steal niche business and lukewarm customers.
– Compete on value/experience/intimacy, not price.
– DESIGN! (“Design” is a premier weapon-in-pursuit-of-the sublime for small-ish enterprises, including the professional services.)
– Employer of choice. (A very cool, well-paid place to work/learning and growth experience in at least the short term … marked by notably progressive policies.)
– Innovative! (Must keep renewing and expanding and revising and re-imagining “the promise” to employees, the customer, the community.)
– Excellence! (A small player … per me … has no right or reason to exist unless they are in Relentless Pursuit of Excellence. One earns the right— one damn day and client experience at a time!— to beat the Big Guys in your chosen niche!)
Summarised, I think it boils down to three things:
1. Be huge in a small place
2. Be excellent in a big way
3. Look outside for innovation and inside for delivery
Sufficiently simple to be ignored.
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