{"id":66338,"date":"2022-05-04T14:52:00","date_gmt":"2022-05-04T18:52:00","guid":{"rendered":"https:\/\/www.shortform.com\/blog\/?p=66338"},"modified":"2022-05-13T16:00:04","modified_gmt":"2022-05-13T20:00:04","slug":"how-to-become-an-industry-leader","status":"publish","type":"post","link":"https:\/\/www.shortform.com\/blog\/how-to-become-an-industry-leader\/","title":{"rendered":"How to Become an Industry Leader: 2 Bold Moves"},"content":{"rendered":"\n<p>Do you know how to become an industry leader? What skills and actions are required for your company to come out on top?<\/p>\n\n\n\n<p>The ultimate step in the journey toward enduring business success is to <a href=\"https:\/\/www.shortform.com\/blog\/career-progression-plan\/\">position yourself<\/a> as an industry leader. This requires two bold moves: (1) take down your huge competitors and (2) become skilled in high-stakes negotiations. Patrick Bet-David discusses these steps in his book <em>Your Next Five Moves<\/em>.<\/p>\n\n\n\n<p>Read more to learn how to take these two steps.<\/p>\n\n\n\n<!--more-->\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-how-to-become-an-industry-leader\">How to Become an Industry Leader<\/h2>\n\n\n\n<p>The last step of your strategy for sustained success is making the business moves that position you as an industry leader. According to Bet-David, there are two bold steps you can take. Let\u2019s discuss each.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-bold-move-1-take-down-behemoth-competitors-in-your-industry\">Bold Move #1: Take Down Behemoth Competitors in Your Industry<\/h3>\n\n\n\n<p>Though this is a risky move that\u2019s not for every company, you can try to take on the behemoth competitor in your industry, writes Bet-David. This is possible because behemoths, once they\u2019ve grown powerful and complacent, lose agility and the willingness to work hard and take risks.<\/p>\n\n\n\n<p>(Shortform note: Another reason behemoth companies might lose agility is because <a href=\"https:\/\/setili.com\/6-obstacles-that-stop-agility-in-its-tracks\/\">they\u2019ve fallen out of touch with the customer<\/a>. Because they\u2019ve been around a long time and have achieved sustained success, they might not be paying enough attention to changing customer needs and trends and can lose out to smaller, more customer-oriented companies.)<\/p>\n\n\n\n<p>To learn how to become an industry leader, you first have to know how to take down a behemoth using the following tactics:<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-tactic-1-take-down-the-behemoth-gradually\">Tactic #1: Take Down the Behemoth Gradually<\/h4>\n\n\n\n<p>Take the behemoth down gradually by committing to incremental growth, insists Bet-David. While you quietly strengthen your company, the behemoth will be resting on its laurels, unaware of your progress. This complacency allows you to emerge as a surprise competitor and conquer.&nbsp;<\/p>\n\n\n\n<p>(Shortform note: Bet-David suggests that small companies grow incrementally to take down their large competitors, but he doesn\u2019t specify what <em>sort of<\/em> growth companies should try to achieve. <a href=\"https:\/\/www.inc.com\/aj-agrawal\/3-ways-underdogs-take-down-their-competition.html\">Small companies might grow competitively by committing to superior customer service<\/a>. Their small size allows them to have more personal interactions with their customers, which boosts customer satisfaction and competitiveness.)<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-tactic-2-tell-your-story-effectively\">Tactic #2: Tell Your Story Effectively<\/h4>\n\n\n\n<p>When you take on the behemoth, you\u2019ll be prone to unflattering media coverage and slander because you\u2019re doing something bold, warns Bet-David. <strong>To counter negative rumors, share your story through social media<\/strong>, as this is a direct path from you to followers. When doing this, be honest, vulnerable, and consistent: Reveal mistakes you\u2019ve made, solicit input from followers, and share content on a regular basis, so followers know when to expect it.&nbsp;<\/p>\n\n\n\n<p>(Shortform note: To tell your story effectively, consider using a time-tested storytelling formula, as Donald Miller proposes in <a href=\"https:\/\/shortform.com\/app\/book\/building-a-storybrand\"><em>Building a StoryBrand<\/em><\/a><em>. <\/em>Miller\u2019s storytelling formula is specifically designed for marketing efforts, but it can also be applied to tell the company\u2019s narrative. In the formula, <a href=\"https:\/\/www.shortform.com\/app\/book\/building-a-storybrand#the-seven-parts-of-the-marketing-outline\">you first describe your company\u2019s desire<\/a>, then the problem hindering you from achieving the desire, and finally how you followed a plan to avoid disaster and find success.)<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-bold-move-2-negotiate-for-sustained-success\">Bold Move #2: Negotiate for Sustained Success<\/h3>\n\n\n\n<p>According to Bet-David, to become an industry leader, you\u2019ll need to become comfortable negotiating high-stakes deals with partners, vendors, and competitors.<\/p>\n\n\n\n<p>(Shortform note: Bet-David argues that <a href=\"https:\/\/www.shortform.com\/blog\/negotiation-skills-tactics-techniques\/\">negotiation skills<\/a> are critical for high-powered business leaders, but in <a href=\"https:\/\/shortform.com\/app\/book\/getting-to-yes\"><em>Getting to Yes<\/em><\/a><em>, <\/em>Roger Fisher and William Ury propose that <a href=\"https:\/\/shortform.com\/app\/book\/getting-to-yes\/introduction\"><em>all employees<\/em>, no matter how high on the totem pole,<em> <\/em>must increasingly negotiate in the workplace<\/a>. This is because companies have begun adopting more democratic and less hierarchical structures, wherein employees have more say over, for instance, where and what hours they work.)<\/p>\n\n\n\n<p>Here are three methods for negotiating in a way that sustains long-term success:<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-method-1-prepare-extensively-for-meetings\">Method 1: Prepare Extensively for Meetings<\/h4>\n\n\n\n<p>Before you enter a high-stakes meeting, prepare extensively by thinking about the other person\u2019s expectations and needs, what they want to express to you, and how you\u2019ll respond, insists Bet-David. When you\u2019re prepared, you process negotiations more effectively in real time and avoid brash, deal-ending decisions or outbursts.<\/p>\n\n\n\n<p>(Shortform note: While Bet-David insists on extensive preparation before a meeting, others warn of the danger of <em>over<\/em>-preparation. <a href=\"https:\/\/www.nbcnews.com\/better\/health\/how-stop-over-preparing-actually-get-things-done-ncna810126\">Over-preparing can be symptomatic of a fear of failure<\/a> and can lead you to deliver a poor performance because you\u2019re not fully present. Some even argue that to best tackle a new situation or negotiation, you shouldn\u2019t prepare <em>at all.<\/em>)&nbsp;<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-method-2-be-firmly-convinced-of-the-value-of-your-product-and-your-position\">Method 2: Be Firmly Convinced of the Value of Your Product and Your Position<\/h4>\n\n\n\n<p>To negotiate effectively, believe firmly in your product and the value it will add to the customer\u2019s life, stresses Bet-David. Similarly, when making deals, know confidently what you want and what you can offer, and be ready to follow through on your claims, writes Bet-David. This allows you to <a href=\"https:\/\/www.shortform.com\/blog\/48-laws-of-power-law-28-enter-action-with-boldness\/\">act boldly<\/a> and make deals that greatly expand your opportunities.&nbsp;<\/p>\n\n\n\n<p>(Shortform note: Bet-David recommends having firm conviction in your product and position, but it\u2019s easy to lose that conviction in high-pressure negotiations. If this happens, you might <a href=\"https:\/\/www.ted.com\/talks\/amy_cuddy_your_body_language_may_shape_who_you_are\/transcript?language=en\">try a power pose: a stance in which you make yourself big<\/a> by putting your hands on your hips or above your head. Though <a href=\"https:\/\/www.forbes.com\/sites\/kimelsesser\/2018\/04\/03\/power-posing-is-back-amy-cuddy-successfully-refutes-criticism\/\">there\u2019s debate as to whether this tactic increases testosterone and decreases stress hormones<\/a>, as researchers initially claimed, power posing still might simply make you feel<em> <\/em>more confident.)<\/p>\n\n\n\n<h4 class=\"wp-block-heading\" id=\"h-method-3-develop-negotiating-power-by-seeking-many-options\">Method 3: Develop Negotiating Power by Seeking Many Options<\/h4>\n\n\n\n<p>Ensure you get the best deal by having alternate deal options, Bet-David advises. Having options means you don\u2019t desperately need any one deal and are therefore in a more powerful negotiating position. To secure many options, always be looking for new clients, opportunities, and business partners. This ensures you\u2019re never dependent on a single relationship.<\/p>\n\n\n\n<p>(Shortform note: While Bet-David advises you to actively seek out alternative options to gain <a href=\"https:\/\/www.shortform.com\/blog\/negotiating-power\/\">negotiating power<\/a>, Roger Fisher and William Ury argue that to succeed in a negotiation, all you have to do is know<em> <\/em>what your \u201cBATNA\u201d is. A \u201cBATNA\u201d is <a href=\"https:\/\/shortform.com\/app\/book\/getting-to-yes\/part-4#how-a-batna-works\">your single best alternative to the ideal outcome of your negotiation<\/a>. For example, if you\u2019re negotiating terms with a distributor for your product, your <a href=\"https:\/\/www.shortform.com\/blog\/best-alternative-to-a-negotiated-agreement-batna\/\">BATNA<\/a> would be the next biggest distributor willing to make a deal with you. If you know your BATNA before negotiating, you can confidently refuse any deal that would benefit you less than your best alternative.)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Do you know how to become an industry leader? What skills and actions are required for your company to come out on top? The ultimate step in the journey toward enduring business success is to position yourself as an industry leader. This requires two bold moves: (1) take down your huge competitors and (2) become skilled in high-stakes negotiations. Patrick Bet-David discusses these steps in his book Your Next Five Moves. Read more to learn how to take these two steps.<\/p>\n","protected":false},"author":9,"featured_media":66341,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[45,14],"tags":[616],"class_list":["post-66338","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-management","tag-your-next-five-moves","","tg-column-two"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.3 (Yoast SEO v24.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How to Become an Industry Leader: 2 Bold Moves - Shortform Books<\/title>\n<meta name=\"description\" content=\"If you want to learn how to become an industry leader, master these skills to take down the competition and negotiate like a pro. Learn more.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.shortform.com\/blog\/how-to-become-an-industry-leader\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to Become an Industry Leader: 2 Bold Moves\" \/>\n<meta property=\"og:description\" content=\"If you want to learn how to become an industry leader, master these skills to take down the competition and negotiate like a pro. 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