A Secret To Business Success
December 29, 2008
Jack Trout, author of the book The Power Of Simplicity
In other words, your people should have that differentiating idea - what makes them different from their competition? If they don't have that then they better have a terrific price. That's where the leader in an organization better be focused on. It's where am I going and what's my differentiating idea? I point you to Nike. Now I'll tell you what their differentiating idea is - they've spent a fortune buying the best athletes in the world. You know what their differentiating idea is? What the best athletes in the world wear! That's a very powerful idea since everybody wants to wear what the big boys wear.
Yet so many companies don't have that differentiating idea.
Bicycle shop - guy has a great differentiating idea. He offers lifetime service on the bike you buy here. Now that's a pretty bold idea because you say, "Well, gee I can get a cheaper bike down the street but this guy's got lifetime service." When asked how that works out he says, "Number one because it's lifetime service the people that put these bikes together fix them properly because they don't want to see them come back. Secondly, the people who take advantage of this, when they come back to get their bike serviced they nose around, and guess what? They buy other stuff - not only does it differentiate me it's profitable." So there's a bicycle shop using those principles brilliantly.
Complete interview is not available.
- Length: 1:48 minutes (1.65 MB)
- Format: MP3 Mono 44kHz 128Kbps (CBR)