Alexandra Levits Water Cooler Wisdom How to Proceed When You Arent the Best

Alexandra Levit's Water Cooler Wisdom How to Proceed When You Aren't the Best My six-year-old son said to me the other day: “Mommy, I want to be the absolute best at everything I do.” It’s a noble sentiment, but one that’s not necessarily realistic as we grow older and compete with everyone else trying to do the same things. Sometimes, when we can’t be on top, all we can do is work to get better. It takes money, resources, time, and a degree of luck to be a market leader. Whether your business is large or small, there will be lots of times you’re coming from behind. Here are six simple strategies to give your product a boost in a tough marketplace. Stay Ahead of the Curve It’s easy to jump on the bandwagon when someone else has already spotted a workable trend. But it’s much more impressive when you are able to spot a development coming down the pike and offer your customers a solution before anyone else does.Become an effective trend-spotter by picking out themes in the news and talking to everyone about needs that pertain to your business. Before you know it, you’ll have competitors hopping on YOUR bandwagon, and it will be nearly impossible for them to catch you. CrowdsourceNew Ideas Sometimes we get so wrapped up in the minutiae of the business that we lose critical perspective. Inthe innovation game, 1000 brains are better than 1 or 10, so don’t rely on the highest-ranking execs or even a formal RD division to hit it out of the park every time. Instead, devise methods for both employees and customers to contribute product-related ideas. For a terrific example of this, check outDreamworks’ intrapreneurship practices. For more on giving a flagging product a boost, have a look at the full post on Intuits Fast Track blog.