How to reinvent your business to dominate industry competition for profitable growth

An entrepreneur friend asked me a brain-racking question some weeks ago. She asked, how can she win a larger market share in her industry? I went on a minute of silence and responded, what would you prefer for your business? Winning competition battle or setting pace in your industry? My entrepreneur friend responded, she only wanted a larger market share. If that's the case, I would rather recommend your business set a pace in its industry, I responded. How do I go about this? She asked. I swiftly answered her, by creating new values yet to found within your industry. Businesses that set the pace in their industries, shift the pillars, and boundaries of values being offered within their industries. They are value innovators not industry competitors. Many businesses have been so engrossed with the industry competition rivalry, to point that they couldn't notice that the market they fiercely compete for is shrinking. Customers are resulting in alternative or substitute in...