
Yes, Your Small Business Can Compete with the Giants—Find Out How!
5 June, 2017
5 Essentials for Marketing Your Startup and Competing Effectively
5 June, 2017We see many startups around the world, both local and international, pursuing rapid expansion and getting caught up in multiple competitive battles at once.
In fact, I know Arab startups that are still in their early stages yet are determined to enter multiple markets and sectors, seeking profits and more.
Beyond the popularity of this approach, I hold a different view from those who advocate rapid expansion in business.
I believe it is a serious mistake for these small companies to launch multiple products and services in a short period and compete across many sectors without achieving overwhelming success in their main area—or even in the areas they have already entered.
الرئيسي أو حتى المجالات التي دخلت إليها سابقا يعد خطأ فظيعا للغاية . Here are the reasons.
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1. Distraction is the enemy of focus, and a company that lacks focus is at risk.
If you run a small business, you’re still a modest brand in the market—not Microsoft, Google, or even Apple, brands
that operate many divisions and compete in multiple fields. They have large teams and independent divisions, each with its own plans, strategy, and financial resources.
But in your new company, you have just one team—or at most two—which means launching more products and services can distract your team and undermine its ability to compete effectively in a specific area.
مؤسستك على التنافس بقوة في نقطة معينة بحذ ذاتها .
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2. Your financial resources don’t allow you to expand quickly.
Developing the products and services you offer requires funding. While your company’s profits and capital are still modest, I believe that adding
products and services is nothing less than reckless.
It’s easy to plan to enter a particular market, but it’s difficult for your company to take on additional development costs while profits are still in their early stages.
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3. Focusing on your core business means achieving success faster.
Focusing on a specific activity and dedicating your team’s efforts to it, while making the most of your organization’s resources, means more profits, new customers, and a broader audience
for the brand you manage.
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4. Rapid expansion can eventually lead startups to shrink !
Entering multiple fields in quick succession and failing to wait for results from previous projects will eventually force you to look for ways to eliminate departments and teams
you’ve added. You’ll realize you were wrong to decide to venture into new fields and other markets where your competitors—and often industry giants—are active.
In this situation, the company’s reputation often suffers in the eyes of its fans, observers, investors, and even business partners, making it seem smaller than
it really is.
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Many startups struggle with their decisions. Some enter a new market and invite competition, even though they have yet to
make the most of their creativity and capabilities in the markets they already serve. They have not given themselves the time to focus for the long term and reap greater rewards—most notably, building their brand
and increasing its recognition, along with profits, capital, and overall scale, until they become medium-sized or even giant enterprises!
Before deciding to enter a new market while your startup is still competing in its core market, think carefully. You may later have to withdraw from the new market.
بمرارة فادحة .





