Big companies have something to lose. They have millions and even billions wrapped up in successful brands and they own a large percentage of the market that they cling to like a kid coveting an ice cream cone (or, for the 21st century kid, an iPhone). And they want more. So what do many of them do?
They tinker with the brand (see Starbucks). They create lots of brand extensions (see SnackWells). They do everything they can imagine to finesse, squeeze and cajole more profit out of their brand. Or, on the other hand, they do nothing, feeling that they can sit pat now that they have reached the pinnacle of their industry. Both are a problem.
The first is a problem because they think they are being innovative, when in fact they are diminishing the focus and core of their brand, diluting it and reducing its power. The second is a problem because, if you stand still for too long, you kill your momentum and someone will most certainly catch you. In both cases, they are avoiding risk.
As a small business, you have the advantage. You are a speedboat compared to these ocean liners. You can zig and zag and make changes on the fly, while they take forever to adjust and shift. You are nimble enough to see the chinks in their armor and focus your brand to fill a need that theirs don’t. For you, taking a chance doesn’t cost nearly as much, and the reward can be much greater. Risk is their enemy, but it’s your friend. Use it to your advantage.
