Big Fish, Small Pond or Small Fish, Big Pond
Which category do you fall into? If you're a big fish in a small pond you're probably one of the leaders in the market space you've defined as your pond. This is a sign of good focus and leading with your strengths.
Conversely, if you're a small fish in a big pond you're probably trying to be too many things to too many people which dilutes your strengths and takes away any competitive advantage you might have. In big ponds, little fish are in constant survival mode because the big fish get most of the food, or worse yet, eat the little fish.
Becoming a Bigger Fish
You can become a bigger fish quickly by defining a smaller pond (narrower market focus) where food is easier to find because your strengths are more evident. Whether you define your target markets vertically by industry or horizontally by business function, a narrower focus showcases your strengths and allows you find success much easier than the smaller fish further down the food chain. Once you've reached the "big fish" position (market leader) you can continue to grow by expanding your market focus to create a bigger pond.
Jumping into a Bigger Pond
As time-to-market and competitive differentiation become far more critical, acquisitions have become the growth vehicle of choice. Successful companies have acquired complementary product lines with a strong presence in other markets, thereby growing both their product and market footprint in a single move. Successful companies have also demonstrated a knack for execution by going beyond the press releases and new messaging and doing the grunt work to integrate the products. The end result is a substantially larger customer base containing your best sales prospects, not to mention a bigger sea of untapped opportunities.
Many successful technology companies have grown by continuously redefining the size of their pond so they're always one of the biggest fish in it. It's a brilliant approach because it keeps the organization focused and continuously playing to its strengths. If you haven't done it yet, transform your organization into a big fish. You'll find that feedings are more generous and occur more frequently.
