Finding What Makes Your Business Different From the Competition

November 4th, 2015 Posted by Inspiration, Significance 0 thoughts on “Finding What Makes Your Business Different From the Competition”

One of the keys to business success is differentiating your business from every other entity in your industry. It’s not an easy task, and it takes a bit of an existential inward journeying, but doing so will put you on the path to elevating your business above the competition.

Nowadays, consumers are inundated with near unlimited choices when it comes to products and services, so much so that decision fatigue and decidophobia have been recognized as real conditions by psychologists.

In other words, people have become tired of the same companies delivering them the same promises day after day. It’s a jaded culture that only reacts when a company so substantial rocks the marketplace.

Follow the Leaders

Years ago, MySpace ruled the social media realm, then Facebook came along and set itself apart with its simpler interface, more social interaction, and of course its initial exclusivity to college campuses.

Next came Twitter with its 140 character limit, which forced users to become wittier versions of themselves, LinkedIn with its focus on professional interaction, and Instagram with its image heavy interface.

Each of these companies has set themselves apart from one another, yet in the end they really all provide the same service to the consumer: social interaction.

Photo courtesy of gratisography.com

Photo courtesy of gratisography.com

So What Makes You Different?

Not even Business is ART can answer this question for you. What the book can do is get you used to being in the same mindset that the founders of Facebook, Twitter, and LinkedIn were all in when they set themselves apart from the those already in their industry by encouraging you to create the Painted Picture, which is a detailed description of your Vision.

This exercise will help you prepare to really say what sets your company apart from the rest.

A Few Things to Avoid

Don’t go grasping at straws to set yourself apart. There are a few things that may end up hurting you in the process.

  • Being the cheapest: While having low prices is great, people often associate price with quality. Despite higher prices, people still buy expensive coffee, stay in fancy hotels, and buy luxury cars. Low prices are great, but don’t make it the ultimate way to describe your company.
  • Don’t make promises you can’t keep: Make sure you can back up what you say. Consumers will always punish those who try to deceive them.

A Few Things to Consider

  • Holes in the industry: What can you do better than anyone else in your industry?
  • Solving problems: How can you can solve the particular problems that your potential customers have?
  • Your guarantee: Whether it is superior customer service, quality products, or anything else, ask yourself what you want your customers to know about your company before they consider your product or service.

Find Your Own Answer

Remember, your company is unlike any other. These are just a few thoughts to get you going, yet none of them may accurately describe your company. It is up to you to sit down and take a deep look inside of yourself to find out what it is you want to achieve and why.

For more resources and business tools, sign up for the Business is ART newsletter. It can help to put on the path to business success.

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