Article by Tommy Wyher
Offering a superior service or product at the right price can help small businesses compete with corporate juggernauts. The demand is a huge aspect of business, as a new business is not always going to be guaranteed their products/services are widely needed. Entering a saturated market will require a company to innovate to set itself apart from the competition. Here are a few tips to succeed when entering a saturated market:
Industry Leaders Can Help
Going into business on your own as an entrepreneur can be an arduous task. However, name recognition can allow a company to automatically be viewed legitimately by nearly all in the industry. A name like Elon Musk purchasing shares of Twitter revitalized the stock for a few days. Big names have relationships that can be leveraged in business, which cannot go unstated.Christian Drapeau is a great example as the most recognized proponent of adult stem cell therapy. He is the CEO of Kalyagen which has made some beneficial partnerships in the last few years. The entrepreneur was even featured on Fox News Turkey explaining how stem cells could battle COVID-19. A huge name in an industry backing a company or product can be the endorsement needed for success.
