The classic story of David battling Goliath resonates with any successful entrepreneur. At some point, small companies must confront large, entrenched rivals. Those big companies possess clear advantages: brand recognition, economies of scale, financial leverage and many others. Customers need a compelling reason to switch providers.
How do would-be Davids compete? They need to develop their own modernized slingshot. Technology provides virtually endless possibilities for competitive advantage. Like David, though, you need to size up your opponent and adopt the right strategy before choosing your weapon.
In the United Kingdom, a company called Ocado did just that in the exotic, sophisticated market of … grocery stores.