I help entrepreneurs leapfrog over the typical potholes that derail most small businesses with inspiration, motivation, education, and support across a wide range of business topics drawn from over a decade of running my own business, teaching entrepreneurship for the City of New York, and coaching and consulting privately with dozens of women and minority small business owners. Honestly, why go it alone when help is an email away?
Shall I Compare Thee...?
Hi Reader,
The other week, a young web designer asked me how she could distinguish herself from other freelancers offering the same types of services.
I'll be honest, this question always makes me think of Jeff Bezos talking about how, in building Amazon, he didn't focus on the competition but on customers. As a result, his competition began to focus more and more on Amazon as it ate up more and more of the marketplace.
In other words, Amazon distinguished itself from the competition by completely disregarding the competition and focusing, some might say obsessively, on continuing to serve more and more of its customers' needs, wants, and unspoken desires.
(While it can certainly be argued that Amazon is also a cautionary tale of squandering customer 'good will' or growth at any cost, that's a story for another day.)
The reason Amazon's early strategy works is in part because customers are a lot savvier than we think. They will gravitate toward businesses they like and trust and feel appreciated by.
And, because humans are social creatures, many will want to share their great find with others.
Another reason why this strategy works is that, all too often, we waste our precious time trying to pull audiences to us that are not for us.
They don't jibe with our priorities, our values, or our approach.
As a result, we water down what actually does distinguish us from our competition in an effort to widen our appeal, which doesn't really appeal to anyone.
While big brands may need to shoot for the lowest common denominator, as small businesses, we can specialize and get laser-focused on exactly who we serve and what they care about.
In fact, that's a unique superpower of small businesses! We're not for everybody.
We're built and designed for specific audiences.
So, while it's certainly helpful to keep an eye on what your competition is doing, it's far more important to dig deep into your customer base, really get to know them, understand them, and connect with them.
Want some more information and inspiration around this? Check out Find Your Tribe. It includes a series of questions you can explore to define your ideal customers beyond traditional demographics so you can articulate your value in a way that resonates deeply with the community of people you're looking to attract.
Until next week, don't worry about the competition. Let the competition worry about you!
PS - Want some help articulating your deep value? Let's talk.
PPS - Last week, I talked about how good it is to get Off The Beaten Path. If you missed it, why not catch up?
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Your success is our strategy!
Easily Said & Done
I help entrepreneurs leapfrog over the typical potholes that derail most small businesses with inspiration, motivation, education, and support across a wide range of business topics drawn from over a decade of running my own business, teaching entrepreneurship for the City of New York, and coaching and consulting privately with dozens of women and minority small business owners. Honestly, why go it alone when help is an email away?
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