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News & Features Differentiation: If you Don’t Stand Out You Don’t Stand a Chance

Differentiation: If you Don’t Stand Out You Don’t Stand a Chance Featured

Written by Bev Hamilton on Wednesday, 16 November 2011 16:24
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In a crowded market full of discerning customers, what do you need to do to distinguish your products and services from those of your competitors? Take a moment and consider this formula. Niche + Problem + Solution +Packaging = Revenue

(Formula devised by Andrea Lee http://www.thewealthythoughtleader.com )

  • Niche – who you work with or your ideal clients
  • Problem – the big stuff that keeps them awake at night
  • Solution – a very specific answer that solves the whole of their problem
  • Packaging – how you deliver your products and services – pre, during and after the sale
  • Revenue – the rewards you get for getting the above 4 things right the majority of the time!

Your unique solution has 2 sides to it. What it is and How it’s delivered

What it is needs to account for

  • The  specific client problem you have identified that is really a problem for them i.e. don’t solve the wrong problem or a problem they don’t think they have.
  • The critical factors that are important to your client.
  • Your clients expressed wants and where possible there unexpressed needs i.e. create additional, undisclosed value that will enchant and delight them.
  • The constraints your client has e.g. budget, time

In some cases it can be hard to differentiate your product – a widget is a widget is a widget. With a service, the solution can be more easily differentiated by not just what it is but also how it is delivered.

How it is delivered – needs to account for

  • The values  of your client and what they consider important e.g. clear and regular
    delivery updates or just tell us when its ready, openness and fairness.
  • Method  of delivery – if you are an HR consultant do you deliver projects or training yourself or do you contract out, if you are a marketing consultant, do  you just do copywriting or can you add a strategic dimension to this service?
  • Enthusiasm and energy – do you REALLY serve your clients or do you take the money and run. Do you get involved and work with your clients or do you love ‘em and leave ‘em!

Be clear on your “what” and your “how” – both what they are and what they are not.

When I ask small business owners what makes them different I often get answers like;

  • I offer a professional service – well I expect that. Why would it be unprofessional?
  • I’ve been in this business 25 years – So what, who cares, are you any good?
  • I offer people a solution based approach – great but what does that actually mean?
  • We are friendly and care about your business – you mean there are people who aren’t friendly and don’t care?

True and successful entrepreneurial leadership is about finding your “unique promise of value” i.e. what will really differentiate your products and services. If you don’t know what is special about you, how can you articulate that to your clients and if they don’t know, why should they do business with you?

Bev Hamilton

Bev Hamilton

Beverley Hamilton is Founder and Chief Creative Office at One Step Further, meeting the needs of small business owners who are entrepreneurs at heart. One Step Further is all about leadership and is driven to make a different by delivering value through great products and services but also being inspirational leaders.

Bev is the winner of the Professional Speaking Association “Speaker Factor” competition in 2010 and is the author of Take Control of Your Time: 7 Simple Strategies for Busy Entrepreneurs and the video series - Transform Your Business Blind Spots into Business Boosters.

Bev Hamilton

http://www.onestepfurther.co.uk

+44(0)1258 817371

Website: www.onestepfurther.co.uk/

comments  

 
+1 # Mark & Zoe 2011-11-16 16:38
More great stuff, thanks Bev!
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