Why do you think your business is winning?

You need to understand what your competitive advantage is before new entrants enter the market.

Why?

Unchecked consistency leads to complacency.

That’s not questioning your commitment and eagerness to succeed as this can happen to anyone. Some company leaders don’t even know why they are winning. This can be the threat zone. If this is you, give yourself a perspective reset before the year end.

My early career in the service industry included time in the fitness space, taught me many leaders believe their business is unique. But really, their fundamental point of difference is their geographic location. Or convenience.

When a new competitor moves in, customers go, and the excuses start. The leadership team become cry-babies and victims which is immensely detrimental to their challenges ahead.

You must make sure convenience is not the winning factor. All it will take is a new entrant to destroy your years of hard work.

By the end of 2023 our business reported 48% local market share amongst 12 clubs (up from 33% in 2022).

Even though we dominated half our local market share in 2023, how did we respond? With the mindset of rolling up the sleeves with work to do. I’ll provide an insight to three key strategies for the first half of 2024.

1.            Invested in new leadership expertise

2.            Developed an accelerated growth strategy

3.            Expanded the footprint of our newest location

Just because you are winning with numbers, it doesn’t mean you should put the kettle on. It’s a call to level up, continuously review strategies, and widen the gap between you and your competitors. This is a strategy.

Expand the value of your win by holding or improving your momentum. And remember, a winner is never shielded from failure. Ever.

So, why are you winning?