Who is the top person or company in your industry right now; locally, nationally and internationally?
Many businesspeople can’t answer that question. Because of this, they miss out on some amazingly valuable information, which could save them years of wasted time and a stack of money.
As business owners, we tend to work hard in our business, looking after our clients or customers. Therefore, it’s all too easy to become cocooned in our own little ecosystem. This can place us in a very precarious position!
Study what works
In order for a business to grow, its owners need to look outside of their own experiences. For example, what is it that makes one design company, law firm or training business etc, extremely successful – And another just manage to survive? Well, a useful starting point for that answer, is to keep up to date with what the thriving businesses in our industry are already doing. It’s a study of success.
As has been said many times: “Success leaves clues.”
In other words, by studying what already works with these successful businesses, we can uncover clues to success, which can then be introduced into our business (with a little unique tweaking.)
I did this myself when I started each of my blogs. Before I launched this blog, I spent 3 months reading as many of the top marketing and small business blogs in the world as I could. I was looking for clues to their success. I then fused what seemed to work for them, with my own unique touch. 14 months later, this blog was ranked by Technorati as one of the world’s top 10 small business blogs.
The bottom line: It pays to study success! It pays to learn from those, who have already made some costly mistakes, so YOU don’t have to.
I’m curious; is this something you already do? If so, what have your experiences been? Please take a moment to share your ideas with a comment.
Photo: Micah Sittig
Good advice Jim, but I think you should go further. Don’t limit yourself to the leaders just in your industry, look at successful leaders from others. Then work out what you can bring back to your industry to make you a success.
Excellent point Stuart.
From a marketing perspective, I often advise people to look at what works in other industries.
Thanks for the feedback sir!
Yes, I think it’s true whether you are employed or running your own business. Look and learn from those who are doing it well. I was heavily influenced by my very first manager who was great; but equally influenced by my second who wasn’t! I learned how NOT to do it as well.
It takes time though, which is why I love working with someone like yourself- you do all this reserach in a very scientific and measured way and we reap the benefits!
Jane
Jane C Woods´s last blog ..How to Profit From Your Mistakes
Thanks for the kind words Jane!
Regarding learning form what doesn’t work, you are spot-on.
I used to know a guy, who seemed to fail at almost everything he did. So, I made a study of him and when making a decision, would ask myself; “what would *the guy* do in this situation?*
Then I would do the opposite. It worked surprisingly well.
Hi Jim,
I’ve spent time following two people in my industry who really are top of their game. The thing they’ve done brilliantly, and which I’ve been resistant to adopt, is to have sharply defined their offering and who their “tribes” are really well. My resistance has been about fearing I’ll cut myself off from opportunities that exist outside the narrow band, but the more I define my offering more closely, the more it’s paying off for me too.
Christine Livingston´s last blog ..3 lessons on work and life from walking 10 miles in the snow
Until you know EXACTLY who your target, prospective clients are, you are not ready to start marketing.
I strongly recommend focusing on a niche and being 100% relevant to that niche.
If you sound totally relevant to a section of the marketplace, they will find your words resonating with them, in as way that’s not possible when targeting everyone.
Define your niche and focus everything on serving that niche as well as you possibly can.
Write every word of your marketing exclusively for that niche.
It’s what I do and it works.
Hi Jim, pretty obvious place to start – however, I bet many peole that read this may not have thought about it…
Some more great advice!
Sometimes Mark, the most obvious stuff is just tooooooooooo easy to overlook.
Thanks for stopping by the blog sir!
Have to agree with the first comment Jim. What I try to do is not just limit myself to what’s happening in one industry, but to push myself to look at ideas in unrelated industries and find ways to apply them in the one I’m working in. I’m a fan of the saying – “There are no new ideas, just new ways to apply old ones”.
Sean Stefan´s last blog ..Made to Stick Book Review
It’s sound advice to look outside your own industry. Thanks Sean.
What’s the old saying? “The smart man learns from his mistakes. The wise man learns from the mistakes of others.”
Tom Wanek´s last blog ..Friday Fun: Wacky Wavy Inflatable Arm-Flailing Tube Man
Absolutely Tom. Life is just too short to learn exclusively from our own mistakes.
Good day Jim
Today I simply wanted to explain that sometimes it’s hard for some not only to stay FOCUSED but to create and follow a plan can become kinda daunting.
However I can say for myself that I have been reading and following Your advise for a month now and things are sure taking up Pace!
Few more clients lined up… for next month and the CREDIT is ALL Yours my friend.
Thank You for sharing
and to those, who have done what I have…. No need to copy cat simply take what You can use and recycle the rest! trust Me it works!!
Ps.. I see that You have forgiven Me, Now I hope to become Your most loyal member.
Norman Flecha
Straight talk
STRAIGHTALK´s last blog ..scriptaculous V1.8.3: Prototype 1.6.1, service release/bug fixes
Hey Norman. Glad you find the ideas here useful.
All the best sir!
I think that has been paramount to my growth as an entrepreneur, trader and educator. One of the the things that I focus on teaching other traders, is relating. I think the best way to learn is to take something you know well and apply it to something you do not know much about. The best knowledge is knowledge that can spread across multiple genres.
Interesting. Thanks for the comment, Eli!
I’ve always looked to the best in my industry for examples and advice. I still do it, comparing successful blogs and websites and even those who tweet effectively. When I started studying social media, I made note of who everyone seemed to look to and then selected those whose personalities caught my eye. Since I am here frequently, Jim, you could suspect you are one of my models…
I know that this is true in multiple industries but I think some people choose to stumble along without looking for advice or training. Years ago, you had to work hard to find role models, with the web in place, the lessons are pretty much there for the taking if you look.
Julie | Resume Services´s last blog ..Moving On…
Thanks for the kind words, Julie.
As you say, it’s never been easier to find models to follow. However, there have never been more fakes within reach, as there are right now.
Hi Jim
I so agree with you here. I’ve found it invaluable to watch and learn from successful businesses in my sector.
I’ve gained so much from doing this – it’s been such a rich source of inspiration and ideas.
Though of course it’s also important to remember to capture the gems from what you learn and use your own style and thoughts to make them work in your business. There’s a risk of getting hung up on how successful other people are and losing sight of how much you personally have to offer.
Thanks for this post
Karen
I totally agree with your comments. Reminds me of that saying “you get what you focus on”.
Ali Davies´s last blog ..How would a crisis impact your business success?