I’m only 30 pages into Malcolm Gladwell’s latest, David And Goliath: Underdogs, Misfits, And The Art Of Battling Giants, and I’ve already learned much.
This highly publicized new book starts off with a bang, taking a closer look at the ultimate underdog story: David vs. Goliath. Upon further review of this epic confrontation, David wasn’t nearly at the disadvantage we all thought he was. Therein lies the answer; oftentimes, the very features that make the favorite the favorite also make him vulnerable. Make sense? Read the book; it’s definitely worth your time.
The very features that make the favorite the favorite also make him vulnerable.
Next, Gladwell moves on to discuss how a small army and an inexperienced basketball team are successful by not going toe-to-toe with their much better, highly favored opponents. That’s noteworthy and can be applied to your business. Do one or two behemoths dominate your industry? Don’t worry, you don’t have to beat them head-to-head. Target a different demographic; offer your customers a different experience.
Pic credit: Target
Who’s a perfect example of this philosophy? Target. The discount retailer never tried to go head-to-head with Wal-Mart, who has dominated this landscape for years. Instead, Target aimed for a slightly more affluent, design-conscious consumer who still liked to be money-savvy. From the beginning, the discount chain aimed to be invested in its stores’ communities, donating to local charities and giving back to local schools. It also was into being green before being green was cool. Target was a leader in its industry with pushing reusable bags (by offering a 5% discount on each purchase bagged in one) and offering in-store recycling centers.
The irony is now that Target is very competitive with Wal-Mart’s pricing (its calling card), and is even less expensive on some items. In keeping with its philosophy, you’ll never hear Target advertise this fact specifically though. The company is staying true to its vision and will not directly confront Wal-Mart, even when it proves to be superior.
Take a tip from David, Target and all of the other underdogs out there. You don’t have to be big and mighty to win. Sometimes your ‘weaknesses’ turn out to be your biggest strengths, when you use them to your advantage.
How have you outmaneuvered a favored opponent?
How have you turned a supposed weakness into a strength?
Who’s your favorite underdog in history?
Always the underdog,
Jaime
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