Today’s advice comes from our interview with Amit Bendov, CEO of the business intelligence analytics company SiSense:
“We actually have very big aspirations—we want to be a billion dollar company, so in terms of our company we’re thinking big, but thinking small in terms of the solution. If we want to be one of the biggest companies, we have to be not just for the Fortune 1,000, but also for the Fortune 1,000,000.”
Bendov says that if you want to make a place for yourself, your product has to be what your competitors’ products are not: easier, simpler and cheaper.
Trying to build a better version of a competitor’s product is not the way to get in the game. Instead, your product needs to be the one that extends across the industry from the larger corporate companies to the smaller businesses. The versatility and usability of your company’s product or services keeps you current and competitive with other players.
“We’re not trying to be more elaborate or have more features, or stronger hardware. That’s where thinking small comes in. We’re not trying to outgrow the competition by outgrowing the product, but we’re trying to make the product simpler and something that everybody can use. So in a way, we’re leveling the playing field.”
Want your business advice featured in Instant MBA? Submit your tips to email@example.com. Be sure to include your name, your job title, and a photo of yourself in your email.
More From Business Insider