HIDRAL, a Hidden Champion

In Fran Chuan's article 'Four keys to transform a SME into a hidden champion', recently published by Harvard Deusto magazine, he highlights how some SMEs have succeeded in dominating specific niche markets and achieving remarkable success, thus being known as 'hidden champions'. For an SME to become a hidden champion, it is essential to place its customers at the centre of its business model by deeply understanding their needs and offering unique products and solutions that are specifically tailored to them. Maintaining a close, multi-departmental and sustained relationship with customers at all stages of the process is critical.

Moreover, fostering a culture that values exploration and continuous improvement becomes essential. Employees should feel empowered to challenge the standard and come up with breakthrough solutions. Innovation should not be limited to a specific department, but rather be an integral part of the organisation's DNA. SMEs also need to be agile and flexible to adapt quickly to market changes, which requires organisational structures that allow for fast and efficient decision-making, as well as a leadership that combines strategic authority with operational involvement.

An early internationalisation allows global opportunities to be exploited, which facilitates economies of scale. Presence in foreign markets is key to its growth and competitiveness, being preferable to establish its own representation in different markets rather than outsourcing to third parties. These keys not only help SMEs to grow and prosper, but also allow them to distinguish themselves in their respective niche markets, where they can compete successfully against larger, more established companies.

We want to thank Fran Chuan for his mention and recognition of Hidral in this framework, which undoubtedly serves as an inspiration for us to continue progressing, focused on the future. We are just a few months away from our 50th anniversary and as enthusiastic as we were at the beginning, fully immersed in our project of Cultural Transformation and Internal Innovation.

You can access the article by clicking on this link.