I’ve encountered many different kinds of clients who approach us to perform market studies. There are those who are more conservative and looking at studying the success of others, so they can replicate the success. They are not necessarily trying to outdo the incumbents, just recognising that the market is growing and they can get a slice of the pie.
There are others who are looking at markets that does not yet exists; areas where others believe doesn’t work, either due to lack of regulatory structure, some previous beliefs about costs. They will say ‘don’t tell me about it being impossible, I want to understand why it hasn’t work, and what is not working’. We would try and understand what are the missing pieces, what is within the control of the market players, what else needs to happen for the market to take off, for it to work.
In the areas of infrastructure and energy, people tend to look towards the government. So when there’s lack of regulation, they might think it’ll be a no-go. But market leaders think differently, they are looking not at the competition, but the problems at hand: what stands in the way of the market working? It is not about shortcuts through imitation, nor finding ‘success stories’; it is about solving problems and sorting out the fundamentals.
Are you thinking like a market leader? What is setting you apart?