Have you ever wondered why some businesses become successful while others are struggling forever? And why is it that some people always seem to get lucky?
Being in the right place at the right time in the market is a vital aspect of being successful. It’s all about being the best in your field and offering products or services the customer needs and wants right now!
There has been a good deal of research in this field, and the results vary considerably. It starts with having the right business model and continues to having the right ideas, determination, staff
It’s about being in the right place at the right time
In my experience, everybody can become successful, but it requires more than just yourself, your skills and talents to make it. Business is about exchanging values. To be successful requires the interaction and connection of many things.
Besides yourself, there is your potential customer, the current market situation the type of business you’re in and the business model you have applied. All of these will need to be in alignment to have any chance of an interaction. It is hard enough to control ourselves, but almost impossible to control potential customers or the market.
Whatever successful companies you look at, the reason they became successful was that they all were in the right place at the right time in their market. There were lots of others much better skilled, more professional and sometimes even in business for quite a while and with lots of experience, but only the one made it. You could say he just got lucky.
Is it really down to luck?
Time is something, at least until now, we cannot influence. But the place is where we choose to be. We have two choices. We can either decide to stick with one place long enough until the right time arrives – or we try to figure out at which place the right time will most likely be and go there.
Both are possible.
You can use Google Trends or similar systems to find out which place will most likely be hit by the right time — constantly hunting after the right place.
Or you can also decide to stick with what you like doing most and believe that
Of course, all of this depends very much on your definition of success, and again for each definition, there is the right time and the right place. Are you confused already?
In the right place
Being in the right place is about having what Google calls E-A-T (Expertise, Authoritativeness, Trustworthiness.). Companies with E-A-T will always have the advantage. But it does take a long time to build E-A-T. It’s not something you can easily buy or outsource to someone else. Although there have been attempts to make this work.
If it comes to buying decisions, most customers will prefer to buy from the best in the field. And the best in the field are the companies and
At the right time
How many times have you heard about these amazing ideas from people but never got anywhere with marketing their ideas?
Think of companies like SixDegrees.com or AskJeeves. Both were ahead of their time, but people weren’t ready for it. They all came at the wrong time. This happens more often than you think. We just rarely hear about them.
But it does show the importance of understanding the market, its trends and the customer readiness for the products or services you offer.
Today it has become much easier with the
How is this working today?
There doesn’t seem to be a real difference between the two when it comes to the chance of success. Most of the successful companies in the past just started by doing what they loved most. But with the amount of information available today there seems to be a shift towards the big search for the right product or service to sell at any given time.
This has developed into a throw-away society. In the past, a portion of the quality of a product was measured in how long it will be useable before it needs to be repaired.
Today, repairing a product is no longer in the equation. Instead products are developed with a short time span build in.
Trends are changing so quickly today, that there is no interest on either side of the equation to maintain a product for long periods of time. There could be something better around the corner tomorrow. So why bother?
How can you make this work?
In the end, it is all about making your business a success and doing so by finding the right combination that works for you and your business.
You need E-A-T to even have a chance to build a sustainable business, but this does not mean that you lock yourself into a corner. It means being flexible enough to adjust your products and services to the trends that fit your business.
If your business is about central heating, you’re not going to offer mobile phones just because they are trending. Instead you look at the trends related to your industry and adjust in that area.
It does require you to be on top of your game and to continuously work on being the best in your field. The easiest way to do all of this is with the right trends in mind and by trying to guess the directions things are going. That will put you in the right place at the right time.
Searching for that defining moment
Being successful means, in part, having fun and enjoying the things you do. This counts for about 50% of your ‘Success Rate’. The other 50% is found in fulfilling the needs and wants of your clients, It makes sense to develop your market and build that E-A-T.
But you also need to seek out and use the information of the market to identify current trends and what influences your potential and existing clients most. Use such information to develop the right type of product or service you can cover and produce with your skills to provide the most effective impact for your customers. This combination works well.
By deciding on your field, you don’t waste energy having to learn new things all the time. In fact, it’s the opposite: through constant learning, improving and practicing the things you enjoy most, you have a better chance to become one of the best in your field. By identifying what impacts your clients, you can package your skills in a way that they are of real importance and effective for your clients.
It still doesn’t guarantee you being in the right place at the right time, but you’ll enjoy what you do while helping your clients. And one thing is for sure – when the right time comes around, you’re ready, and until then, you’ll enjoy every minute of it.