Learning Modern Day Business Strategies from an Ancient Chinese General
- Sun Tzu lived about 500 years BC and wrote a book called “The Art of War”.
- In it, he taught some brilliant ideas about ways to win battles.
- Those same lessons are still relevant in the business world.
- Some of those lessons are shared here.
Capture Market Share Without Competing Directly
- Find niche markets or under-served markets for your products
- Position your products differently than your competitors
- Offer bundled offers or something that makes your listing different
- Offer great customer service
Avoid Competitor’s Strengths, Attack Their Weakness
- Showcase product videos in your listings
- Reference product reviews and customer testimonials
- Emphasize what makes you unique and why people should buy from you.
- Don’t only focus on price. This is the quickest way to lose money.
Use Data & Intelligence to Maximize Chances of Succeeding
- Keep track of your sales on GunBroker.com and through your point-of-sale.
- Watch trends. Compare them to the overall market. This is a useful link to help you: http://www.gungenius.com/top-selling
- Review your financials regularly to ensure you are hitting your revenue goals.
- Compare your prices and value vs. competitors.
Prepare with Insight, Act with Speed
- Reducing time to make decisions, list products with compelling offers, and ship them to customers is critical.
- Look for ways to make these run faster by creating a playbook or procedure that you always follow, or have some templates saved that you can quickly modify and reuse.
Analytics Help You Win the War Before You Go To Battle
- Data helps you see opportunities.
- Opportunities multiply as they are seized.
- Data helps you see threats.
- Threats diminish as you proactively work to overcome or avoid them.