Getting “Closer to the Metal” Will Make You Rich & Make Hoards of Customers Love You… Here’s What That Means
Ever feel like you're pushing a boulder uphill in business? You pour your heart and soul into marketing campaigns, but the leads just trickle in slower than molasses in December (in Alaska). The culprit might not be your hustle (although a little extra effort never hurt anyone). It could be that you're swimming against the current.
Yep, there are natural forces at play in business, just like there are in the ocean. Instead of trying to fight the tide, why not ride the wave and leverage those forces to your advantage?
In this article, we’ll show you how to:
- Uncover hidden market currents to propel your business growth.
- Leverage these currents for maximum impact.
- Identify and harness these currents to achieve business success.
In the meantime, let's dive in!
Why You Can't Outmuscle the Market
Think about it: how often do you try a new restaurant only to discover the dish everyone raves about is... well, just okay for you? ️
The same principle applies in business. Just because you have a fantastic product or service doesn't mean everyone will be clamoring for it. There are inherent human preferences and market trends at play.
A study by HubSpot found that 73% of customers expect companies to understand their needs and expectations. This means you need to be offering something people actually want, not just what you think they should want.
Remember the saying, "There's a tide in the affairs of men, which taken at the flood, leads on to fortune..." (Shakespeare was a wise dude, apparently). This "tide" refers to the natural flow of human behavior and market forces. Ignoring it could leave you stranded on the business beach with a bucket full of unsold seashells (and a very disappointed accountant).
Examples of Riding the Market Wave
Here are some real-life examples of companies that have successfully harnessed the power of market trends:
Netflix
Remember the days of Blockbuster? Netflix saw the tide shifting towards streaming services and adapted their business model accordingly. Boom! Domination. They understood the power of staying ahead of the curve and embracing change. This is exactly the kind of forward-thinking approach that prioritizes integrity – doing what's right for your customers in the long run
Peloton
The COVID-19 pandemic triggered a major shift in the fitness landscape. Gyms shutting down led to a surge in demand for home exercise solutions. Peloton's high-end bikes and treadmills became a popular choice, with devoted users earning the moniker "Pelo-people" for their loyalty to the brand.
According to HBS case study on the rise and fall of the brand, Peloton had 1.09 million subscribers, 113 percent over the previous year, with people paying $39 a month for the videos they could watch on their bike and treadmill screens.
The Takeaway: Don’t try to force a square peg into a round hole. Identify the market trends and adapt your business to fit them.
Feeling the Pull: When the Market Wants What You're Selling
The best-case scenario? The market pulls your product or service forward because demand is so high. Imagine customers practically begging you to take their money!
This "pull" often manifests as:
- High engagement on social media posts and marketing campaigns.
- A surge in website traffic and inquiries.
- Customers raving about your product or service to their friends and family (free advertising!).
Growbo: Your Secret Weapon for Riding the Growth Wave
Here at Growbo, we know navigating the business ocean can be tricky. That's why we created Growbo, our revolutionary AI business growth automation platform. Think of Growbo as your personal sherpa, guiding you through the ever-changing business landscape. It helps you:
- Identify market trends so you can position your business for success.
- Automate repetitive tasks like lead generation and email marketing, freeing up your time to focus on strategy.
- Gain valuable insights into your customers' behavior so you can tailor your messaging and offerings to their needs.
here and see what the future of business growth looks like.
You Can't Sweep the Tide, But You Can Ride It
Imagine trying to sweep the tide with a giant broom. The water would flow right through. The same principle applies to business and life. People change slowly, if at all. Accepting this fact can improve our relationships and business ventures.
For example, it's easier to find someone whose interests align with yours than to replace someone in relationships and dating. The same applies to business partnerships. If a partner is lazy or has a conflicting vision, don't expect them to change. Aligning with people who share your vision and values is crucial.
The Market Always Wins
Mark Andreessen, a venture capitalist and former entrepreneur, believes in investing in the market first before people or ideas. "The market always wins," he says. There are countless startups in the graveyard of failed businesses because they tried to sweep the tide instead of riding it.
To see this principle in action, watch "Shark Tank." Many entrepreneurs pitch products that the market doesn't want. The Sharks often tell them, "You have to take this dog out behind the shed and shoot it." If the market really wants a product, you'll feel it pulling the product out of you.
Conclusion
You can't sweep the tide. Instead, surf the current and learn to monetize the ride. Enjoy the journey and ride the wave of market demand to success.
This article explored the importance of aligning your business with natural market currents to achieve success. Here are the main points to remember:
- Market Currents Drive Success: Just like the ocean has currents, business has market trends and consumer preferences. Trying to fight these forces is a recipe for struggle. Instead, learn to identify and leverage them.
- Understanding Your Customers is Key: Market success hinges on offering what people actually want, not just what you think they should want. Focus on understanding customer needs and expectations.
- Embrace Change and Adapt: Markets are constantly evolving. The most successful businesses are those that can stay ahead of the curve and adapt their offerings to changing trends. Companies like Netflix and Peloton are prime examples.
- Identify Market Pull: The ideal scenario is when the market pulls your product or service forward due to high demand. This can be evidenced by strong social media engagement, website traffic surges, and positive word-of-mouth marketing from satisfied customers.
- Growbo: Your Navigation Tool: Growbo, our AI platform, can be your personal guide in the ever-changing business landscape. It helps identify trends, automate tasks, and gain valuable customer insights, allowing you to tailor your business to market demands.
- Embrace the Flow, Don't Fight It: Trying to force your product or service onto an unwilling market is futile. Instead, accept the natural flow of customer behavior and market trends. Focus on aligning with them for a smoother ride to success.
- Market is the Ultimate Deciding Factor: Mark Andreessen reminds us that "the market always wins." Numerous failed startups tried to fight market currents, leading to their demise. Learn from these cautionary tales.
If you found this article valuable, please like and comment below. We'd love to hear your thoughts and ideas for future content. Don't just take our word for it! Head over to the comments section below and tell us your biggest business growth struggles. Together, let's conquer the business ocean!
Learn more about Growbo and get ready to ride the wave of business growth with us!
Keep Growin’ and stay focused,
Image Credits:
1. https://medium.com/@rgdaksh03122005/unveiling-the-streaming-revolution-how-did-netflix-transform-from-dvd-rentals-to-global-streaming-c1bfc9dcbdd7
2. https://www.statista.com/chart/22836/peloton-annual-sales/
