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May 28, 2024

7 Shrewd Business Maneuvers To Inspire Your Strategy

7 Shrewd Business Maneuvers To Inspire Your Strategy

“What’s the shrewdest, smartest maneuver you’ve ever seen in business?”

Here’s what YEC community members had to say:

1. Slack’s Pivot From Gaming

“There are plenty of smart maneuvers in business. One that sticks out to me is the origin of Slack. The company was originally called Tiny Speck, and its goal was to develop a video game called Glitch. By around 2012, the team realized their game wasn’t going to make them any money, and they needed to quickly pivot to something else.”

“Well, during game development, the team built an internal communication tool that ended up becoming, you guessed it — Slack. They figured if people didn’t want to buy their game, maybe they would be interested in a full-featured tool for teams. This move was shrewd and paid off in the best way possible for the team.” ~ Daman Jeet Singh, FunnelKit

2. Apple’s App Store

“When Apple released the iPhone, it was one of the most exciting moments in tech history. But what really set it apart was the launch of the App Store in 2008. By doing this, Apple didn’t just sell a phone; they offered an endless array of possibilities right in your pocket. The thing that really shook up the industry was when they included a platform for developers to create and sell their own apps.”

“This seemingly small move expanded the iPhone’s functionalities infinitely. Now, creative minds from around the world could quickly fill the App Store with a diverse range of apps that cater to all kinds of needs and interests. Now, you’d be hard-pressed to find someone who doesn’t know about the App Store. ” ~ John Turner, SeedProd LLC

3. Netflix’s Shift To Interactive Content

“I think Netflix’s shift to interactive content was one of the smartest moves that fascinated me. Back in the day, streaming services were facing severe competition and it was difficult for businesses to grow their subscribers. Since viewers had a wide range of choices, it was getting really difficult to keep them engaged and retain them in the long run. It was then that Netflix started experimenting with interactive content, allowing its viewers to make choices and dictate how the story would unfold.”

“It all started with an episode of Black Mirror and later expanded to other projects. The strategy worked brilliantly and Netflix saw an overwhelming response. It was a unique and engaging experience for viewers, which set Netflix apart from the rest of the players in the industry.” ~ Stephanie Wells, Formidable Forms

4. Disney’s Streaming Service

“One of the smartest moves I’ve seen in recent times was Disney coming up with a streaming service, which helped the company capitalize on the growing trend. The company successfully leveraged its vast library of popular content, such as a variety of its classics and movies encompassing huge franchises like Marvel and Star Wars to rapidly attract subscribers. This helped Disney not only get more eyeballs but also enabled the company to take control of content distribution and capture a larger share of the streaming market.”

“With a huge library of its classics and other exclusive content, the company quickly built a large subscriber base and acknowledged a significant increase in revenue.” ~ Jared Atchison, WPForms

5. Tesla’s Cyberwhistle

“Elon Musk’s decision to release the Tesla Cyberwhistle is a very smart business move for a few key reasons. First, it helps build loyalty among Tesla fans. By offering unique, collectible items, Tesla creates a special connection with its customers. This makes people more excited about the brand and eager to see what comes next. Second, these product launches grab a lot of media attention. Musk knows how to keep people talking about Tesla, and even small, fun products like the Cyberwhistle help keep the brand in the news.”

“This constant visibility is very important for keeping Tesla in people’s minds. Third, these releases make Tesla’s brand image more interesting. Tesla is known for cars and solar energy, but by adding fun items like the Cyberwhistle, they show they’re also a fun and creative company. This attracts more customers who like what the brand stands for, not just the products they sell.”

“Lastly, these collectibles are usually low-cost to make but can be sold at a high price, which means they can make a good amount of money quickly whenever they’re sold. In simple terms, these strategies are clever because they strengthen customer interest, keep the brand in constant view, add an element of fun to the brand image, and are good for making extra money. This makes them very effective in the competitive business world.” ~ Benjamin Rojas, All in One SEO

6. Apple Retail Stores

“One of the shrewdest and smartest maneuvers in business that stands out to me is Apple’s decision to open its own retail stores. When Apple opened its first stores in 2001, many critics were skeptical. At the time, it was unusual for a computer manufacturer to sell directly to consumers without relying primarily on third-party retailers. The decision was seen as risky because of the significant investment in real estate and the challenge of building a retail presence from scratch.”

However, Steve Jobs envisioned an environment where Apple could control the customer experience from start to finish, ensuring that each aspect of interaction, presentation, and service aligned perfectly with the brand’s values. This allowed Apple to showcase their products in a way that third-party retailers couldn’t match, ensuring customers received a uniform experience that emphasized product integration and ease of use. This strategic move paid off dramatically.”

“Apple Stores quickly became the gold standard for retailing, providing an immersive brand experience that drove both product sales and brand loyalty. The stores themselves became hugely profitable, generating more income per square foot than any other retailer in the world and becoming a crucial part of Apple’s marketing strategy. They turned the shopping experience into an event and a key differentiator for the brand from their competitors.” ~ Michelle Aran, Velvet Caviar

7. Smart and Shrewd can be Simple

“I think the smartest business maneuvers are simple and straightforward. One of my acquaintances in my industry was successful as a solopreneur. However, he found that his success was destroying his personal life and he was failing to grow and add new features while managing customer support. He did the smartest thing and reached out to a mid-sized business with tools that complemented his own. He was bought out and since then grew even more while having less on his plate.”

“Later, the business was acquired again and has grown his product beyond what he imagined. The steps he took were simple but had a direct impact on his life and his work. You don’t have to do something unique or overly clever to make a shrewd business maneuver. Identify your problem and find the most direct problem to it.” ~ Blair Williams, MemberPress

Image: Depositphotos

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