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Mike Carruthers:
In
their plan to be successful, many businesses forget one critical
thing. How are they different from their competition? What is
their differentiating idea?
Jack Trout:
Let me tell you without it you're going to get killed out there.
To me it's differentiate or die.
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, 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.
At
somethingyoushouldknow.net
- I'm Mike Carruthers and that's Something You Should Know.
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