How Do You Successfully Enter A New Market?

Successful companies usually have a way of doing things. We certainly did when I was at Maxim Integrated Products. Jack Gifford, our CEO, called it “The Maxim way.”

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It’s natural and normal for a big, successful company to take less risk as it grows. You can take advantage of this.

For example, we had a product evaluation process at Maxim that we called RODT (Return on Design Time). The idea was that design engineers were the most precious resource in the company, so you should optimize your new product choices for the best RODT. Before a product was approved to be developed, its RODT score was evaluated.

That’s the opportunity for you: Your larger competitor is likely to stay in their lane.

Look at any big, successful company, and you will have senior executives making well over $1 million/year. These executives have nice homes, nice cars, and they take nice vacations.

Just don’t try a frontal assault to take their lunch because it will be game on. Then the big company will react.

For example, I’m working with a ~$10 million/year revenue startup. They have been operating, competitor free, and doubling revenue for the last two years.

I work with startup CEOs to help them grow their businesses . I built several businesses from $0 to >$100M. Learn more at www.brettjfox.com

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