Recently I (Ramon Ray of SmallBizTechnology, pictured below) parked my car in front of a Dunkin Donuts to use their WiFi while I waited for one of my children to finish taking some tests at a local high school.
I got hungry and was thinking about going into Dunkin Donuts to get something to eat. But I looked around and noticed a bakery, Domingo’s Bakery. I went inside because I wanted a freshly made sandwich that’s similar to what I would make at home.
Don’t get me wrong, I love Dunkin Donuts chicken sandwiches, donuts and other food. However, at that time, I wanted something different.
Walking into Domingo’s Bakery, I was pleasantly surprised at how packed and full it was. In fact, how full of life it was with a flurry of activity, kids running around and Spanish filling the air.
My initial thought was, how does this bakery have a thriving breakfast service with Dunkin Donuts right across the street? It’s simple. This bakery is servicing a niche market.
- Those who primarily speak Spanish.
- Those who want more fresh or authentic food.
- Those who want a homey experience.
Also, as we learned from Dave Ramsey’s “Business Gets Personal” event with Seth Godin and Gary Vaynerchuk, you don’t have to destroy your competition to win. Most markets are big enough that there’s room for many competitors to do quite well. You can leverage the power of your digital marketing to find customers and wow them all day long.
Learn from this Cuban bakery. Don’t be afraid of your competition, in fact – embrace them and thrive.
Here’s the view that the local Dunkin Donuts store sees…every day:
And here’s the view Domingo’s Bakery sees every day. I bet this view inspires them to excellence and a deep focus on their customers. Go narrow, target small – get big profits.
Republished by permission. Original here.
I love the idea of an abundance mentality. Dunkin’ Donuts doesn’t have to run this little bakery out of town to succeed and the little bakery doesn’t have to stop Dunkin’ Donuts from getting built to save themselves. There is enough business for both to succeed.
Both can shine at what they do – can co-exist. I’d actually go to both, but can imagine I’d probably go to Domingo’s more for the homey feel and the freshness of the food.