Most companies focus too much on better products, when perception is far more important… the first product in someone’s mind is usually superior. In fact, it’s even better to be first than it is to be better. Be realistic about your place on the ladder (If You Ain’t First You’re Last) and then work to position yourself against the next guy in line. Everyone by now has heard of the Avis example of their “we try harder” slogan…whether or not they actually did try harder is besides the point, they were just trying to position themselves against number one (Hertz).
Don’t try to be better (it never works), try to be different. Think of these examples:
- 7Up moved from the tiny lemon lime soda market into the number three spot in the much larger cola market by calling themselves the Un-Cola.
- Apple focuses only on the high $$$ market…10% of the customers, but 75% of the profits
So, not only should you pick a niche, you must! But, make sure that it has enough profitable potential customers. All you need is 1,000 True Fans and you are off to the races.
What is your differentiator: Service, Distribution, etc. Look for the hole to fill. Everyone is interested in what is new, not what is better. Better is nowhere, different is where it’s at! I got a kick out of this video by Derek Sivers…one man dancing can start a whole crowd, but you must be bold enough to put yourself out there.
Now, go be different!