You need 51% market share.
Market share is important. For instance, 10% market share in a given industry could mean millions or billions of dollars.
Ha! 10% in politics means you lost… you go home… you blew it. Buh bye. Political market share means you have to go big and think even bigger. Campaign managers are constantly asking the question, “How do I get to 51%?
In politics, one more vote than your opponent is the goal. Sure—a landslide would be great. But generally we just want the “W.”
In business, the question really is “How do I surpass my competitors?” And the answer comes from not just looking at market share but also mind share. What do people think of your brand? How much do they know about it? How does your brand stack up to the competition? What are your brand’s (and your competitors’) strengths and weaknesses? Where and how are our best chances to grow ?
OK, so now how can you beat them? Can you beat your competitors with a new product or packaging? Can you beat them to a new distribution channel? Can you beat them on price? Service? Quality?
You don’t want to just be “competitive.” There has to be a desire within the company at the highest levels to WIN.
My advice is to strive for and stake out a leadership position. Biggest in town. Fastest-growing in the US. Most profitable in the industry. Maybe you can even win a Best Places to Work designation. Just be on top somewhere. And stop at nothing to get there.
Put your focus on success and opportunity. On winning. Take it from the political guy—it pays to be a winner.