The COVID-19 pandemic has changed everything and operating “as normal” may not be a reality for the next 12-18 months. So, here’s the question: can you continue to hold onto the mantra of “this is how we’ve always done it?”
Many businesses are pivoting to take advantage of the opportunities that have been created by COVID. What if you are not one of those businesses? What if the opportunities in your market are not that obvious? What should you do?
Here’s your answer: find the “White Space” in your market.
Think of the “white space” as an area in your market that you own, that you drive and build through your organizational strategies, execution, and culture. If you have figured out your “white space” when a prospect asks you what makes you different, you feel like you have a compelling answer. You have data that supports your differentiation and brand promise that guarantees your ability to deliver. You do not compete on price or to beat your competitors, rather a differentiated product or service.
With COVID placing an unexpected shift on normal business operations, it’s no surprise that priorities shifted as well. Teams rely on leaders for reassurance and clarity. As leaders, it’s your job to remain clear on what propels your organization forward and how you can keep your teams motivated to do the same. Discovering the “White Space” drives and aligns all of an organization’s most important priorities. What should we do? By when? By whom? What data provides evidence of our success? Here are three key questions to ask to understanding your “White Space:”
- Do you know the attributes of your market?
- Do you know how your competition competes on those attributes?
- How do you compete on those attributes?
If you need help defining your “White Space” please reach out for a discovery session.
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