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The nagging problem of staying relevant

Your business is off the ground, and you’ve captured the attention of your niche market. But how do you maintain that momentum? How do you avoid becoming obsolete and master the market?

Small business owners usually stay on autopilot

The typical approach is to go into autopilot mode, relying on the strategies that initially brought success. But, and you may have experienced this already, relying on your one-hit wonder can lead to the stagnation of your business.

It’s not enough to simply get your business up and running; the real challenge lies in staying relevant to your niche. In Surge, I refer to the concepts of gathering and expanding as a means to ride the waves of market trends and customer needs effectively.

After your initial success, you may find that it’s easy to fall into the trap of complacency. You continue to use the same methods that once worked, assuming that what brought you here will keep you here, or maybe even help you scale. This autopilot mode is detrimental because customer needs and preferences and market dynamics change over time. But you’re going to have to be a little more limber than that.

Make a move – gather and expand

“Once you’re up on the wave, you look for the pocket. You need to always know where it is because that core of the wave has the most strength, height, and power. You can ride your board up and down the pocket for the entirety of the wave.” – Holly Beck, pro surfer

In business terms: get in the pocket. It’s a far more proactive approach when you gather customer information and expand on it. This involves getting into the “pocket” of the wave (known to you by now as your niche) – the core of market trends that hold the most strength, height, and power.

• Gathering customer information – To stay relevant and noticeable, you need to be where the action is – right in the pocket of the wave. This means actively gathering customer information. Ask and track their responses to understand their evolving needs and preferences. Be a fly on the wall, observing and listening without interfering, to gain genuine insights.

• Early adopters and scaling – Get your early adopters pumped about your product or service. These are the customers who are most enthusiastic and willing to try new things. Use their feedback to fix problems and refine your offerings. Simplifying the delivery of your service is crucial here, as it prepares you for scaling. By addressing the industry’s pain points and offering streamlined solutions, you can capture every ounce of energy from your wave, allowing it to carry you as far as possible.

• Stay alert and adaptive – Being alert to the wave means continuously monitoring market trends and customer feedback. When you’re this vigilant you can alter your position or morph your business strategy as needed. Flexibility and adaptability are key to staying relevant.

“You will know when you’re in the pocket because customer demand for your offering continues to grow on it’s own.” – Surge

Action steps

• Define the unique needs you’re serving for your current market. Then make a list of “clone” markets to which you could expand.

• Now brainstorm ideas for reaching your market. Who are the key influencers in that market? Who are the “cool kids” – and how an you get their attention?

• Start a document and title it, “Going Mainstream”. Jot down notes about what you’ll have to do to prepare your company to sell out. Will you have to systemetize even more aspects of your business? Will you have to stop catering to your original niche? What can you do to still show your original fans that you love them?

Outcome: Constant relevance

By gathering and expanding, you ensure that your business remains relevant to your niche. You’ll  constantly satisfy their changing needs and positioning yourself to grow alongside them. This approach not only keeps you in the game but also gives you a competitive edge in your industry. 

Grab your board. Let’s go!

Wishing you health and wealth always. 

-Mike