Strategies to build a sustainable Monopoly in Market.

Every businessman has one dream that he wants to create a monopoly in the market. For that, he tries to identify customer problem & come out with a unique solution which cannot replicate easily.

But this is not possible in this dynamic world. Because competitors can easily disrupt the monopoly with additional benefits to customer problems & demand. So, How a Businessman can build a sustainable monopoly in the market..??

Before that, let’s understand what sustainable monopoly is..?

A businessman must have to think beyond his profit margins/milestones, flexibility to take care of employees, invest in technologies, and build a sustainable ecosystem to meet a customer demand.

Sustainable monopoly not only help to stakeholders, company management but also working employees, business partners & end users i.e customers.

Here are 5 Single Line Tips that help the businessman to create a high level of barriers around his business.

1)     Target a niche market where competitive intensity is low.
2)     Intensify the challenge by adding extra layers of difficulties around it.
3)     Prepare a straightforward strategy that can solve all the problems.

4)     Keep evolving the challenge & solution overtime to make it difficult for competitors to catch up with the monopolist.          

Conclusion:

Famous Quote by Peter Thiel to all businessman: (zero to one)

All Happy Companies are different: each one earns a monopoly by solving a unique problem. All failed companies are the same: they failed to escape competition.