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Increase Your Market Share

A pessimist is a man who wears both a belt and suspenders. Even the most pessimistic economic forecasters admit that 2015 will be a year of growth.

As your market grows, it’s important for you to focus on not simply growing by osmosis in the good times, but increasing your share of that growth. ‘Market share’ will be the focus of all successful businesses in the coming months. Why? Because the doubling effect of market share compounds your competitive strength.

Every sale you make puts you two sales ahead of your competition. Let me explain.

Suppose you have always bought your cars from the same dealer, and you can no longer delay buying a new car. If you choose to buy from a different dealer this year, your new dealer is two cars ahead of your previous dealer; that’s the sale your new dealer gained plus the sale your old dealer lost, which makes a net difference between those dealers two cars, not one.

It’s that same doubling effect of market share that accounts for market leaders like McDonald’s and Campbell’s Soup, outselling their number two and three competitors combined.