What business leaders really want is to be alone in the marketplace, to have a space that they own for a long enough period of time so they can make some real money. In this short, powerful book, Milind Lele shows you how.
Conventional wisdom attributes winning to having the best products at the lowest prices, a great brand, superior management, and the lowest overhead — so-called “sustainable competitive advantage.” But these are neither necessary nor sufficient to continuously grow your business. These are some of the new monopoly rules:
- Find a market space where customer’s needs are not being met and they are willing to spend money to meet them.
- Know how long the space will remain open and why.
- Figure out how to capture it and wall it off.
- Know what to do when the party ends.
The best monopoly opportunities are situational, often soft and intangible. They’re segments, not the mass market, and often in the customer’s mind. For the customer there is no one but you, since what you provide can’t be easily copied, duplicated, or ripped off. For example, for many coffee lovers there is no one but Starbucks. The moment people found out what coffee could, and should, taste like it was as if a giant lightbulb went off inside their heads — and Starbucks had a monopoly.
Monopoly Rules couldn’t come at a better time, as an almost perfect storm seems to be hitting every business. Customers are changing and the homogenous mass market has gone the way of the nickel soda. Now the game is winning market segments. In this world, Monopoly Rules provides a new way to think and take action and stay ahead of the game.