You may have already heard, a massive merger between discount
retailers Kmart and Sears has just been announced.
What does that have to do with your niche, high-value, low-overhead
online business?
I have to tell you I have been heavily inspired by entrepreneur TOP
GUN Dan Kennedy as part of his inner circle program lately.
Dan’s main pitch is to look outside of your industry, outside of your
business model – that’s where the great breakthrough’s are found.
If you haven’t read anything from Dan, get over to your local bookstore,
he has some great “No B.S.” titles out there. You should also take
a look around his wonderful website where you will find his
“Magnetic Marketing System” which should be standard reading for any
successful entrepreneur.
It’s a philosophy of adaptation rather than adoption – meaning you look
to adapt techniques, strategies and concepts from outside TO your
business instead of just adopting techniques that are well known within
your industry.
So – all that said, what can we learn from this retail mega-merger?
1. Distribution Economies of Scale
We should all look for partnerships, joint ventures, co-marketing and
even all out acquisition or licensing opportunities with other
businesses who could help radically expand exposure of your products.
Spend some time each week thinking BIG. Most of our time is spent fine
tuning our business to get slightly more traffic, more conversion,
etc… – but part of our thinking needs to be BIG thinking. Examine
sites for sale to see how you might reach a much larger target audience. Explore JV’s with some very big partners, etc…
2. Mix of Strengths
What are your strengths? Is it your product, your service, your
information, your support, your brand, etc….
Be very honest, if you can find your strengths and partner with someone
else to enhance those strengths you can make massive improvements
in your business.
For example, when you are starting out – a weakness is likely to be
credibility. When I first started out I was lucky enough to nab
Yanik Silver for a lengthy interview, it turned out to be pure gold
and still is one of the most popular pieces of my “Ultimate Information
Entreprneuer’s Success Package” to this day.
As individual online business entrepreneurs, we definitely do NOT want
to leap into discount retail, however we can certainly learn by
watching business activity, techniques and strategies outside of our
own little world.
Jeff
“Create & Market Income-Generating Information Products Online”
