In present corporate, the focus is now shifting from competition to pure domination. Each corporate irrespective of the industry in which they are operating wants to dominate the industry and want to be on top position only without any nearby competitors. Just consider few companies who are right now dominating the entire world without any competition, Facebook, it is in the social media industry but do you think it has any competitor? Alphabet (Google) is dominating the entire world in the last two decade without any competition, Apple, Microsoft, PayPal and many more are there. These companies are able to achieve domination because they have kept the focus on 4 key aspects of the organization which has given them the power to dominate.
This four key pillars which will decide whether you will take your company to dominate the industry or will remain competing with others. As an entrepreneur you must need to achieve the highest level of success and finances, to achieve that you must need to dominate the marketplace where you are by focusing on this 4 essential factors:
1. Knowledge power
In past corporates were running based on finances and influences but now since last 3 decades, the entire shift is toward knowledge. The present corporate world led by knowledge workers and leaders. If you have the knowledge, you can bring finances to your firm and then use them for expansion for your company, at the same time you can create influence in the market. But just having finances and influences without having knowledge will not help you to grow your firm or survive in corporate for a longer period of time. Knowledge is the intangible asset for any organization. The greatest commodity for this century will be “Knowledge”. Two richest men on the earth Jeff Bezos and Bill Gates, are part of the IT industry which is only Knowledge-oriented. You need to get knowledge and also bring people with knowledge to dominate the business. It is also required that you update knowledge by getting proper training and work under mentors who can guide you whenever required.
2. Human resource power
People who are working with you in your firm are the biggest asset for your organization. There two type of resources, one is internal resources like employees, directors and shareholder and second is external which includes, suppliers, vendors, customers. Your business success and domination will have a great level of impact from this resources. It is critical to provide a proper environment to grow and sustain. Help them to improve their knowledge by arranging training, give them proper compensation in both monetary terms and designations with rewards. As per Peter Drucker, the father of marketing, “The aim of marketing is to know and understand our customers so well that the product or service fits them and sell itself”. If you have achieved this level of accuracy, no company will be there to compete with you and you will be dominating the industry.
3. Freedom of Finance
Once you have put the proper knowledge set and resources on the place, you need to focus on finances. Financial success will ensure the progress of an organization and how well you can dominate. To run the business and expand it, you need to have sound balance sheet. On the bases of sound balance sheet employees, shareholders and stakeholders will give you support. This financial freedom will give you the courage to share your profits with your resources to give them monetary support and empower them with the proper knowledge set by investing in training and coaching programs. At the same time, you can reinvest it in companies expansion, processes, production and many more.
4. Power of positivity and ethics
This is the most important of all factors. The leader of the organization who is managing and inspiring others must have enthusiasm and a high level of ethics which can create all above three factors. If you research on all successful organizations, you will find that they are successful because of the high level of energy and positivity which is generated by their leaders. The drive to “get more” and “I am not satisfied with where I am and need to go to better stage then this” are true signs of progress. The leader must be watching opportunities for expansion, achieving high targets, converting ideas to reality and many more will come with enthusiasm. To be a great organization you must require to be inspired leader.
“Be a creator not an imitator, competitor, or pretender. Real success happens when you create, collaborate, and dominate.”
