What do you do if your industry is saturated and you need to find new opportunities?

Como líder, ante una industria saturada, me centro en la diferenciación a través del servicio al cliente. En lugar de competir en precios o productos, enfoco mis esfuerzos en brindar una experiencia excepcional. Capacito a mi equipo para que ofrezca un servicio personalizado, resolutivo y amigable. Además, implemento sistemas de retroalimentación para mejorar continuamente y adaptarme a las necesidades cambiantes del mercado. Esta estrategia nos permite destacar y fidelizar clientes incluso en un mercado saturado.

I have found that if your industry is saturated and you need to find opportunities, you can ask yourself these three questions: What makes you stand out? What makes you naturally special? What feeling or impression do you give off? Many of us are so hyper-focused on being the most talented or the best person in the room, or focusing on what everyone else is doing. Your secret to standing out is probably something that you're not even thinking about because it's something that you're already doing pretty much every single day. You're sitting on your secret thing. Find the thing you do effortlessly and go all in on it.

Assess Your Skills and Interests: Start by conducting a self-assessment to identify your skills, strengths, interests, and values. Consider what you enjoy doing, what you excel at, and what motivates you in your work. This will help you narrow down potential career options that align with your strengths and preferences. Research Emerging Industries: Explore emerging industries, markets, and trends that show growth potential and offer opportunities for career advancement. Look for industries that are experiencing innovation, disruption, or rapid expansion, as they may present new opportunities for employment or entrepreneurship.

For those of us who are passionate generalists like me, finding new opportunities in an economy increasingly focused on specialization can be difficult. I've made two career pivots in twenty years and both times it came down to the same formula. Both times it came down to focused and committed networking inside and outside of my immediate network. I ask the same two questions in every meeting: "What do you see in my way of approaching work that could be essential in any company" and "Who is ONE person I have not met before that I should talk to?" Rather than just ask for a job, I look for new ways of looking at my skillset differently. Rather than throw a wide net, I focus on one warm introduction from each meeting.

Adopting agile methodologies such as the value proposition canvas or lean canvas facilitates iterative refinement of your UVP in response to evolving market dynamics and customer preferences. By embracing a collaborative and adaptive approach to value proposition development, businesses can continuously enhance their relevance and competitiveness, positioning themselves for sustained success in dynamic market environments.

Let’s face it — growing a business is a formidable challenge. With factors like inflationary pressures, and geopolitical uncertainties, thriving amidst upheaval has become increasingly demanding. We need to analyze Consumer Segmentation, Purchase Situation, Complementary Product and Service to uncover market opportunities. By finding a specific area within your industry where you can excel, you can differentiate your business and attract a targeted audience. Another way to thrive in a saturated market is to provide value-added services. These are additional offerings that go beyond your standard product or service and provide unique benefits to your customers.

Diversifying into adjacent markets offers businesses opportunities for growth by tapping into unmet needs and untapped potential beyond their core market.

Years ago, I worked with a coach who emphasized that the riches are in the niches. She emphasized the importance of zeroing in on specific issues prevalent in specific niches.

1. Identifica mercados adyacentes: Segmentos: ?Qué grupos de clientes no estás atendiendo? Canales: ?Hay nuevos canales para llegar a tus clientes? Aplicaciones: ?Se puede usar tu producto/servicio en nuevos contextos? 2. Evalúa el potencial: Necesidades insatisfechas Competencia Tendencias 3. Selecciona un mercado adyacente: Prioriza: Elige el mercado con mayor potencial y menor riesgo. Desarrolla una estrategia: Adapta tu producto/servicio y estrategia 4. Herramientas: Navegador de oportunidades de mercado Mapa de mercado Lienzo de estrategia del océano azul Estudios de mercado Análisis de la competencia Análisis de tendencias

Mach es spitz! Finde Deine Nische! Spezialisiere Dich! Das Igel-Prinzip. Der Igel kann ein Ding ganz besonders gut! Das ist seine Superkraft. Sie rettet sein Leben. Unternehmen k?nnen sich genau darauf konzentrieren. Wo sind wir einzigartig oder wo wollen wir einzigartig werden.

What if... you try fostering in-house dissent? I know it sounds weird, but in difficult times, you need to think outside of the box. Start by encouraging employees to challenge core assumptions and dissect existing offerings. Then, you can embrace "what if" scenarios, prioritizing unconventional ideas over mere iterations. Integrate the Improv's "Yes, and..." technique to welcome any creative solution. You can also partner with fringe communities - those with needs unaddressed by mainstream products – to expose blind spots and spark disruptive innovation. You'll see: dissent-driven exploration can ignite a spark within the darkness of a saturated market.

Cultivating an environment conducive to iterative innovation empowers businesses to experiment with new products and services effectively. By embracing methodologies like the lean startup approach or design thinking process, organizations can foster a culture of creativity and agility, iterating rapidly through prototyping, testing, and feedback cycles to refine offerings and deliver value that resonates with customers' evolving needs and preferences.

1. Genera ideas: Extensión: Mejora o complementa tus productos/servicios actuales. Variación: Adapta tu oferta para diferentes segmentos o necesidades. Innovación: Crea soluciones completamente nuevas para un problema o necesidad. 2. Valida las ideas: Metodología lean startup: Crea prototipos y prueba con clientes reales. Design thinking: Enfoque centrado en el usuario para comprender sus necesidades. Desarrollo ágil: Crea y mejora en ciclos cortos con feedback constante. 3. Desarrolla y prueba: Prototipado: Crea una versión simplificada para pruebas y feedback. Pruebas: Evalúa el producto/servicio con usuarios objetivo. Comentarios: Reúne feedback para mejorar y ajustar oferta.

I agree with this step and also wish to encourage anyone pursuing this option to consider recommended step number 1. By knowing what you are good at understanding the unique value add you bring to the industry or sector and working more with others you increase your chances of being noticed by key stakeholders in your industry.

Finding a new opportunity isn't a solo game, so don't treat it like one. One of the big contributors to this is the self-imposed stigma that we have to hide the fact we're in need of a new opportunity and have all the answers. You don't need to be ashamed of the fact you're looking for a new opportunity and you are facing challenges in achieving it. Rather than conceal it, lean into the reality that it is a tough road and you don't have all the answers. While counterintuitive, showing humility and vulnerability will increase your chances of people offering assistance and feedback on what you could do differently, where to focus, or connecting you with relevant opportunities.

The emphasis on the value of networking cannot be overstated. Take what is unique to you, your experience, and use insight, initiative, and imagination to communicate throughout your network and/or gain access to other networks where you can explore branches and sequels within your personal range of capabilities, even if some of those capabilities may not be mature or are outside your comfort zone. Research, assess the pro/cons, seek viable courses of action, and execute with vigor. Be confident or don’t begin the journey. Expect setbacks. Don’t get discouraged if you encounter initial failures. Re-evaluate, reassess, reassure, and reattack!

Collaborating and brain storming offer us opportunities to not only see things from a different perspective, but also to generate new ideas and concepts. By listening and learning you are able to draw inspiration.

Zielgruppenbesitzpartner! Wer arbeitet noch mit meiner Zielgruppe? Welche Synergien k?nnen wir nutzen? Welche gemeinsamen Netzwerke k?nnen wir nutzen? Zusammenarbeit auch mit Wettbewerbern kann zielführend und erfolgreich sein!

Focus on skills instead of experience. What can you DO and how would that be USEFUL to other organizations - regardless of industry. For example, many bartenders transitioned into customer support roles during the pandemic because they possessed transferable communication skills. I went to school for radio/tv production. Those skills have come in handy in operations management, HR, L&D and marketing functions over the years (but never in radio or tv ????♂?).

The life cycle of any product or industry is likely to hit a saturation. So in regards to this, when one is in leadership position, one must keep in mind following: 1. Develop a team that is flexible to adapt to any industry. 2. Develop the mindset to work outside the comfort zone. When one is comfortable in what one is doing, the team becomes more focused on status quo. So when the market situation changes, people are found sleeping. In the corporate world, things are always in motion therefore one must always remain alert. Besides, due to technology changes, things are improving and many times moving in new directions. So, if the team is already experimenting with new things it becomes easier to adapt to new changes.

el liderazgo relacional sugiere explorar colaboraciones y alianzas con otros profesionales o empresas en campos relacionados. Busca identificar nichos de mercado poco explotados donde puedas diferenciarte y ofrecer valor único. Además, enfócate en cultivar relaciones sólidas con clientes actuales y potenciales, comprendiendo sus necesidades y adaptando tu oferta para satisfacerlas. La diversificación también puede ser clave; considera expandir tus servicios o productos hacia áreas complementarias o emergentes dentro de tu industria. Recuerda que la construcción de redes y la colaboración estratégica pueden abrir nuevas puertas y ayudarte a encontrar oportunidades incluso en mercados saturados.

The four steps described above are well said and in most case for sure working. Knowing your capacity and capabilities, strengths and weaknesses, reaching to a different customer segment, modifying or enhancing or introducing products and services. Furthermore, additional step could be having an exit strategy to sell or convert the business to whole new market locally or internationally or shift to a new segment or type of business line. For example from hotel services and management to supply chain of hotel equipment and materials or from banking to telecommunications. A business reengineering/ process reengineering often a workable tool to efficiency and reduce cost thus resulting in lower product and service pricing and earnings .