06 Oct The Importance of Your Startup’s Uniqueness
“What makes a successful brand? It has to stand for something fundamental—an underlying bedrock idea or principle that at every turn supports a company or product. This foundational platform is called positioning, and without it a brand can have no traction.
Successful positioning rejects conformity. At its best, positioning elevates a brand above the fray so that people can’t help but take notice. The human brain instinctively looks for things that are different and unexpected. So a brand that stands in stark contrast to its competition will attract people’s attention and have a distinct advantage in the marketplace.
To be noticed and interesting, however, a brand’s positioning must accomplish three things. It must
- Be different
- Be focused
- Be relevant
Neglect any one of these factors and the platform collapses. Each one plays a critical role in the psychology of branding.”
To explore why each of these factors are so important, read the complete source article.
My Take on This:
Your offering doesn’t need to solve everything! But, your “Minimum Viable Product” (MVP) must solve ”enough” of a problem to motivate customers to buy your solution given all the options available to them (including not doing anything).
To gain traction (rapid revenue growth), your product must have one or more elements that customers finds not only valuable, but indispensable – elements that aren’t available elsewhere – in other words, your solution must be unique enough to offset the risk of going with someone and something new.
But remember, anything worth copying will be copied — especially if you begin to have any success within a large customer segment.
It’s not enough to simply have good internal skills and capabilities; every company has them. To sustain success you have to have resources, capabilities and assets that are truly superior, and distinctive enough that others can’t easily copy them.
When you have several such capabilities reinforcing one another, you will be able to both differentiate yourself from, and consistently execute better, than your competitors.