For many years, major corporations and ‘big business’ had a huge advantage over the small business owner and entrepreneur. This was because they could use their big budgets to manufacture brands and positioning in the marketplace, and essentially ‘buy’ the market.
It didn’t really matter too much whether their product or service was any good .. they simply convinced the market that it was, and the market bought it.
Fast forward to today — and there are 2 major shifts why this is all different. In today’s business world, the entrepreneur has the ability to compete directly with “old business”, and these 2 key elements explain why.
The first shift has literally eliminated and created thousands of new industries and business models — the Internet.
This one goes without saying. The Internet has levelled the playing field for entrepreneurs. Because of social media, it’s impossible for bad companies to hide. Consumers talk and share information at blistering speeds, and this benefits the small entrepreneur who really does have a better idea, but in the past would have struggled for the world to learn about it.
The Internet has made it possible to create a business online, all operating in a ‘virtual’ world with no employees or store, and allowed entrepreneurs to become financial independent. More traditional ‘bricks and mortar’ businesses that have figured out how to thrive online have driven their growth and profits as a result of the Internet.
And of course, the old business models that refused to evolve and embrace the changes (and opportunities) caused by the Internet have been destroyed.
The Internet gives the entrepreneur incredible power and reach, allowing us all to compete with virtually any company, wherever it’s located. This is good news for the entrepreneur!
The second shift, which isn’t as visible in the market but is equally powerful, is that our entire society is changing the way that it makes buying decisions. There was a day when high-pressure, over-the-top sales pitches would work. But in today’s world, people are desperate for authenticity, transparency and honesty.
People do not buy the slick sales pitch and hyped up marketing copy any more, and this explains why so many business are getting CRUSHED right now. They may have seen the Internet shift, but they’ve missed this second powerful shift.
So — as an entrepreneur, how do YOU plug into this new trend, and ensure that you’re taking advantage of it .. instead of being destroyed?
The following video discuss the 2 key trends that have given entrepreneurs incredible power to dominate markets, and beat the ‘big guys’ at their own game.
These 2 elements are forcing a lot of companies out of business, and giving entrepreneurs like you and I a unique opportunity to build powerful, profitable businesses.
Source: Greg Habstritt and Michael Drew