Feedback Form
Home Features Mastermind Forums About Advertise Blog Network Contact Be An Author

Lesson #5: Stay One Step Ahead By Anticipating Your Competition

King Gillette Articles
Lesson #5: Stay One Step Ahead By Anticipating Your Competition

Gillette’s idea for a disposable safety razor was a novel one, and like most other novel ideas, it inspired countless copycats. As it turns out, Gillette was not only attracting customers with his unique razor, but a surge of competition. Until 1921, Gillette knew he had his bases covered, but he also knew that after that he would have to step up his game. 1921 was the year that his original patents were set to expire.

Rather than sitting back and relying on his brand name and whatever customer loyalty he had built up since being in business to carry him through, Gillette decided to take action. He was not going to let his competitors sideswipe him out of business once his patents expired. Instead, he chose to anticipate their entry into the market and prepare himself accordingly.

Gillette knew that the second his patents expired, there would be an avalanche of knockoffs of his razors in the market. With that, he decided to both design and patent a new and improved model. And, how did he go about promoting it? He knocked his original product and said it was never as good as his new one. “Any other razor you’ve ever known is crude,” read one Gillette ad at the time.

While pushing his new product, Gillette did not forget about his old one. Instead of discontinuing the model and admitting total defeat, Gillette repackaged the razors and sold them at a tremendous price markdown. He also introduced an intermediate razor, so as to make his presence known at three different price points and strengthen his overall market share.

Throughout his career, Gillette had an astute ability for anticipating the future and its trends. Just two weeks prior to the stock market crash of the 1930s and the ensuing Great Depression, Gillette sensed the bad times ahead. He informed the company that he would be selling off a large portion of his company stock. His reason was supposedly to pay off mortgages he had on various properties throughout California, but Gillette knew there was a rough road ahead.

Unfortunately, Gillette executives at the time convinced him otherwise. After realizing how Wall Street would react once it found out about the company’s founder selling his stocks, they talked Gillette out of the sale. Soon after he backed off, however, the stock market crashed. Within five years, Gillette had lost almost all of the wealth he had accumulated throughout his life. By the time he passed away in 1932, he was almost bankrupt. This time, he had anticipated the future, but he had let others distract him from his gut instinct.

Gillette was one businessman who refused to ever sit still. When things were going well, he was always thinking about how to make them better, and that meant trying to figure out what his competitors were going to do next. By anticipating future trends in the market, Gillette was able to stay one step ahead of the game.





Lesson 5 Stay One Step Ahead By Anticipating Your Competition

Like this article? Share it with your friends

Article Feedback
 Article Feedback No article feedback found.
  Leave Your Feedback
article feedback

Article Feedback

To learn more about the Evan Elite Author Program please contact us.


King Gillette Picture King Gillette Newsletter
Get our free newsletter to learn more about King Gillette and other famous entrepreneurs!

Name:
Email:





Evan Elite Authors
Dianne Crampton  
Joe Dager  
John Alexander  
Evan Elite Authors

Become An Author
Have you written articles that would be of value to entrepreneurs? Become an expert on our site by publishing them! Expose yourself to a wide audience, drive more traffic to your website and get more sales! Click Here for details.
Become An Author

Evan's Latest Video
Modeling the Masters: Learn the true secrets behind Walt Disney's business success factors & grow your company! Video produced by Phanta Media
Evan's Latest Video

Business Opportunities
"Learn straight from Evan how you can Make a Full Time Income (And More) from a Website"

How to Start An Online Business

Click Here To Learn More
Business Opportunities



Evan's Newsletter
Get advice & tips from famous business owners, new articles by entrepreneur experts, my latest website updates, & special sneak peaks at what's to come!
Name:
Email:
Evan`s Newsletter

Free Downloads
Instant Direct Mail Icon Instant Direct Mail
Managing Generations Icon Managing Generations
Why Banks Say No eguide Icon Why Banks Say No eguide
Valley of Death Icon Valley of Death
7 Strategies to Take Action Icon 7 Strategies to Take Action
Free Downloads - Complete List

Entrepreneur Tools and Guides
Top 50 SEO Posts of the Year
Top 50 SEO Posts - 2007
Top SEO Posts of the Year
 
Top 50 Niche Blogs 2009
Top 50 Niche Blogs 2009
Top 50 Niche Blogs 2009
 
Entrepreneur Tools and Guides

SEO For Africa
SEO For Africa
Eunice Hayford Abura, Ghana,
Eunice Hayford
Abura, Ghana
SEO For Africa

If I Were A Startup...
Julie Mitchell, $470k to $1.1 Mil in 2 years
Julie Mitchell
$470k to $1.1 Mil in 2 years
John Zarei and Shaan Parekh , $516k to $1.5 Mil in 2 years
John Zarei and Shaan Parekh
$516k to $1.5 Mil in 2 years
If I Were A Startup... - Complete List

Famous Entrepreneurs
Charles Schwab, Charles Schwab
Charles Schwab
Charles Schwab
Richard Branson, Virgin Group
Richard Branson
Virgin Group
Famous Entrepreneurs - Complete List

Entrepreneur Advice
Michael Gerber, The E Myth
Michael Gerber
The E Myth
Donald J. Trump, Trump University
Donald J. Trump
Trump University
Entrepreneur Advice - Complete List

Popular Articles
(Premium Authors)

     He Who Hesitates…waits…and waits…and waits…
By Mike Yates
     How often do You Think ‘Outside the Box’?
By Mike Yates
     How to Improve Your Time Management
By Mike Yates

Have A Suggestion?
Toronto Salsa Classes / Toronto Salsa Lessons Email us your ideas on how to make our website more valuable! Thank you Sharon from Toronto Salsa Lessons / Classes for your suggestions to make the newsletter look like the website and profile younger entrepreneurs like Jennifer Lopez and Sean Combs!
Have A Suggestion?

More Evan Carmichael
More Information