What’s Your Competitive Edge?
Imagine walking in a garden of lilies where every other lilly looks the same! Now imagine if you’re walking in a lilly garden and there is a beautiful blue rose growing amid the sea of lilies. This is how it feels when your brand stands out in a blue ocean of competition. Building a competitive edge for your business can take your brand to another level. Today’s market is too overcrowded, with different brands positioning themselves to stand apart. One can’t be blamed if they get overwhelmed while picking something as simple as a chair for their homes as there are probably a hundred brands to choose from. One should not be surprised when the choice is easy to make as well.
There are brands out there that have made their mark in the minds of the consumers…
Brands that have WON.
Brands that have been made MEMORABLE.
Brands that have been the people’s GO-TO-CHOICE.
So how can one make their brand stand out? How can YOU find your competitive edge? Let’s find out.
According to Simon Sinek, “A few organizations know WHY they do what they do. WHY is not about making money. It is the result. WHY is a purpose, cause or belief. It is the reason your organization exists”. Answering this question and asking yourself WHY you want to solve a particular problem can give you the direction to mark your competitive edge. Apart from knowing how to position yourself or your brand, there are many other ways where you can discover and establish your competitive edge.
Find a Niche
In a world where there are millions of people doing the same job as one another, it is very easy to be replaced. There will always be a person ready to take your job for lower pay, and organizations can take advantage of that. When it comes to building your brand, become specially qualified to do something that only you can do. Find yourself a niche and become a master at that. This can be applied to businesses as well. In a world of androids, be an apple.
Differentiate yourself from your competition.
Competition is everywhere. Be it People or brands, it is important to constantly evaluate yourselves, find faults and scope for improvement and work on the same. Never compare ourselves with others, start with yourself. Compete with your version from yesterday. Offer better quality solutions and listen to your customers.
Prioritize service and the quality or value that you bring onto the table above anything else. Suppose Gucci and Channel sell similar products. They beat their competition with really premium offerings. Quality can be a solid edge.
This point truly brings the story of Walter Landor to mind. The founder of the Landor industry was the one who discovered that consumer insights could help fine-tune their products and services. It is these “consumer insights” that have transformed the world of advertising. It COMPLETELY changed the game. It offered faster and quicker solutions and helped to CREATE wants and needs when it came to a brand. Getting to the point, such innovations and out-of-the-box thinking can help you differentiate yourself from the rest.
As Entrepreneurs, you are going to meet many people through your journey. Some you might remember, and some you may forget as one face amongst the sea of faces you see on a day-to-day basis. The question is, do you wonder if people remember you the same way? Be memorable for the right reasons. Be there for people. Build a good network of people you can count on. Never establish relationships based on an “I helped you, and now you have to help me” basis. Develop your unique style. Make an impact that people can not forget even if they try. If you’re funny, play it. If you have a strong personality, work it. Be YOU.
Focus on your Values
Your brand might have certain visions and missions. You might hire someone in your company who does great work but may not align with the said mission and vision. There are many brands that could’ve become financially great but their founders decided to stick to the mission and vision which worked out for them in the long run. Don’t run for money. Go for excellence and success shall follow.
Bring Value to whatever you do. As a brand or as an entrepreneur or as an individual in itself, everyone is BUILT DIFFERENT. Only you can determine how you want to position yourself and what you want that competitive edge of yours to be. Be clear about who you want to make an impact on. Have a clear foundation of brand identity, and everything else can be built on it. A hut or a skyscraper? You decide.
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