Finding Your Niche | Creating a Business That Stands out in a Crowded Marketplace

Audio Transcription

Attend the world’s best business coaching workshop, led by america’s number one business coach for free by subscribing on itunes and leaving us an objective review. Claim your tickets by emailing his group that you didn’t and your contact information to cancel at drivetime show.Com, more I tried nation welcome back to the most incredible most humble most actionable, most non bs business podcast on the planet. If you ever wanted to grow a successful company, you found us, you found the right place and I’ll tell you this, because every single show that we do is response to a question that somebody like yourself has asked us and what are the questions that we’ve been asked a lot on on the ground level as an actual in the trenches as a business coach working with business owners as an entrepreneur who actually owns companies myself? As a workshop facilitator, a lot of people come from all over the world to our workshop and marsh. You hear people all the time saying I’m trying to find my niche and I guess I’m, trying to find out how I’m going to stand out. You know my town, there’s 10 fitness companies. How am I going to stand out I mean that my my town, there’s there’s 10 phone repair companies. How am I stand out if there’s 10 haircut places, how am I going to be different?

How am I going to stand out in march? That’s what we’re talking about today is finding your niche and creating a business that stand out in the marketplace. We’re going to teach everybody on how to find that niche. But first I want to talk about the pitfalls of why people are even having that question in the first place and I would say, I would say the reason why a lot of businesses struggle with this particular thing that we’re getting into today is they are trying to be remarkable into many different areas of their business coaching and therefore they are not remarkable in any of them. In so, I would say that you need to find and consolidate all of your efforts into one or two particular parts of your business in order to one-up the competition which day devoted to serving bro. It’s like hard to that. Come with time to do it. You know I’m, saying cuz I you serve in cheviot that the munchies you know, and then it’s like you like that you got to think about it on a regular basis. We got. This is how we step number one:competition, mystery shop, your competition. You just have to you-have to make a spreadsheet that lists each one of your competitors myself and because I’m so good at business know you need to make a list of your competition and you need to make a list like a spreadsheet. So on the far left column list, the names of your competition and let’s get at least 5 more fees, 5 then on roby i, guess we roll call him see, call m.D., put the benefits on column, be okay, the benefits of what do they? Do it’s really good. It’s not do anything whatever just make a list of it.

The second is there offer okay, this is column. C make a list of their offer like a. What are they offering? That’s awesome? What the hot sauce and hot sauce there’s no hot sauce there! Just a terrible, okay, I know you have to make what’s the offer okay, now we will make them in the next column, put their branding right there brandon, who has the best brandon, and why has the best brain? Why I have a funny mystery shopping story, a hot and fresh mystery shopping? Mystery was a recent trade show here in town and I’m, not going to say the name of the company, but they went around in mystery, shopped all of their competitors going around from was it going today in their work uniforms, they were not. They actually went to the bathrooms changed out of their work uniforms. Who could they be so good? They went around to all of their different competitors. Ask him business coaching questions and the husband asking the questions like what would you say that you guys do best? How much do you guys charge for this service? What is your no-brainer opera busted in his wife, is like? Oh, no he’s getting too specific the competitors. They go. What he, just flat out, told him honestly I operate a company exactly in your niche in your business, and the guy was like you just totally called him out on it, but that’s exactly what you have to do as business coaching. I was so proud of them, because until you go round in mystery shop you don’t get the real and raw information for what it is that makes them unique. I got to go to total wine. If I can’t do that, I got a guy and he has some friends that he’s known for 20 years and they’re all kind of competition there. You know on the boat that, if they’re chiropractor or who but his buddies, all have locations kind of near him. Wait a minute. So he’s been mystery. Shopping is but wait a minute wait. A minute. Yeah I want to see what you just said. I would like to wage war on how to do it. You just said he has buddies, who are competition? Well, they’re, not in the same location. Let me try again saying I’ve got a good buddy. He fights for the israeli, army fights the palestinian army and they hang out on the weekend. This is like the red sox, like I’m, going to referee this. It’s like it’s like an army ranger got together with a navy seal cuz they’re in the same industry, but they don’t serve the same customers at all this point. At this point now, let’s say we opened up a new location.

Then yes, so anyways you just it was a funny just a position that he’s mystery shopping is buddy. Just like that story. Okay, I’m! Sorry. What about level offenders? Pennsylvania I just know:i made this I have a lot of clients and work of the year to try to be buddies with her with an employee whose left them and started their own thing or there try to be buddies with a competitor and it always ends bad bad and my face friends of your enemies are your enemies, the purple cow that will one up your business coaching competition, a purple cow that one up your competitions of the book:purple cow in the, man, who, sold, his marketing business yoyodyne to yahoo for 30 million dollars. He says that he says and it crowded marketplace fitting in is failing any busy. Marketplace, not standing out is the same as being invisible. He goes on to say:boring is always the most risky strategy. Smart business people realize this and they work to minimize the risk from the process. Marshall boring is always the most risky strategy practicing chiropractor for years and I’ve decided I’ll always keep my business boring because boring is safe. Why is that possible that boring is more risky, throw off screw off marshall? Thank you. I appreciate that a lot of businesses, bill, say I’ll talk with him. What is your business coaching purple cow? What is your unique selling proposition? What is it that you do differently and they’ll say?

Well, we are the most professional. We are the most professional business. I’m like okay or they’ll, say more they’ll, say I have the best customer service, or my communication with the customers is better than all my competition systems. I have a lot of people’s people allowed to say they have systems, they don’t actually have any since I had that great systems and great people and professionalism, and then here’s the deal at the end of the day. All of those things are pretty boring, though. That was the truth, and in that hurts, if you’re going to be remarkable in any of those things, you have to be remarkable to the point you have to have that pose a level of customer service. If you were going to win on business coaching communication, if you’re going to win on customer service, you have to go to the langston zappos zappos I would say best practice for customer service client ever fight back about the concept of needing to be different, running to stand out. I’ll call you. Let me listen to the show:we’ve never experienced a client or a workshop at andy or a listener. Who’s ever pushed back about the concept of differentiating themselves. That’s right! But people who aren’t our clients, some foolish people might say i, don’t need to differentiate my business. You know it because my business is a differentiated i. Just need to be at just professional i:have a business and I don’t have competitors i, don’t need a difference gay, because the sheer nature of my business is that we offer something that nobody else has a remarkable or invisible, make a choice. A little harsh make good choice.

If, if you are not remarkable, people are not going to be talking about you and if you’re, okay, but that’s the best way by disagree with something you start by attacking going the other man’s mother I was very distracted unable to to put together any other logical reasoning, and then you make another personal attack. I’ve been watching, donald trump political, the commentary. I’ve noticed you first attack the other person and then you double down with another attack begins to no longer be able to reason and communicate. Then you, then you throw in some logic so now continue now that I’ve insulted your mother. If you don’t have people talking about you, then your business is invisible and you’ve talked about like your mother. Trebek in in this is a huge thing you bring up, bring up to set him up. He knocks him down. You talked about donald trump and you’ve done this to tistics. You you’ve mentioned this on previous shows, but the reason why donald trump has people listening and he’s in the limelight. So much is because he’s a guy he’s making these outlandish remarks and then people are paying attention to it. Your brain is actually more business coaching active when he’s speaking. What’s put it on the show notes, are they linked to a a dresser that was done called your brain on trump? This is what I love this one, because the organization that did this they actually took the time to actually get researchers together, and this was it was a ice cold. Your this is your brain on. Trump is on cnn money, which is left of center and cnn money, although it is left of center cnn big prove it in conclusively when donald trump talks, people listen because he just stands out:uk halo, he just speaks in headlights, and that is that is unfortunately or fortunately, the key to good marketing. Other key is:can you find the vesica pisces intersection? The vesica pisces is intersection of two soccer balls to suck as you enter intersect in the two soccer. That’s why they took a pisces is right there, but that’s where you find your morals or values intersecting with an idea that makes you stand out to marshall. Let’s talk about tom’s shoes example and if we all could ethically agree with so tom shoes, they’re purple cow is that for every shoe that you purchase from them they’re actually giving one away, because that is their give back program, and they know that when you understand-and you learn about their give back program-you’re going to want to do more business with them, because it feels good to actually purchase from them. So that is there purple cow. There are people out there that we have met before who, when you tell them, they need to differentiate their real estate company or their photography, business or whatever brand it is.

They always default to I just want to be the most professional, but you have to differentiate yourself in some way and personally attacking a business coach or somebody who is a correct. Is it going to help you it’s, and it’s just not going to help you I would encourage you to think about. What’s going to make your company different, we come back we’re going to open up the boom book and where to fire off marshall a list of common purple cows, businesses that have differentiated themselves successfully in the marketplace stages of drive time to show up radio want to attend the legendary drive time show business workshop for free, subscribe on itunes, leave an objective review and send his business coaching confirmation at info at thrivetime show.Com to claim your tickets want to live in a van down by the river, come by and see us at our riverwalk offices and will be able to make your dreams come true turn into the drive. Time show we’re talking today about how to create a purple cow, how to stand out in a crowded, marketplace and seth godin, the best-selling author of the book, the man behind, the company called yoyodyne. What you sold the yahoo for 30 million dollars has written in his book. The purple, couch boring is always the most risky strategy to market your business. Smart business people realize this and they work to minimize but not eliminate, but not eliminate the risk from the process, because I wanted to say you were remarkable or invisible, make a choice in a crowded marketplace fitting in is failing in a busy marketplace. Not standing out is the same as being invisible. Some you say I’m trying to make an itch for my business. I want my business to stand out. I went to get the attention it deserves. I want to get in front of my ideal unlikely business coaching buyers to sell them copious amounts of products and services that will solve their real problems. They really have so that I can achieve time, freedom and financial freedom that you want to listen up, because here are the steps you got to take one make a list of your top five competitors to have your top make a list of your top five competitors to list of the benefits of your competition figure out.

What are they doing? That is better than what you’re doing what are they doing? That is good. What are your competitors doing? That’s that’s good third list out the offers they have 4th rate their actual brand and don’t don’t don’t look at it from your perspective. Look at it objectively now, once you’ve done that make out of one of those guys and if you care to purple cow, it’s going to be criticized and only way to avoid criticism is to really say nothing or never stand out. Her go through. Life is politically correct as possible, but if you are remarkable, it’s likely that some people won’t like you again cefco and said if you’re remarkable, it’s likely that some people won’t like you and that’s part of the definition of remarkable business coaching people we mark. Are you saying that if people don’t remark as a result of seeing my marketing, but it’s not remarkable? Yes, that’s what it is. Example, if I see your marketing and I go holy crap, that’s terrible at least I remark. If I see your marketing and I say, oh my gosh I swear if I would hit it I think about that I’m going to call them and complain it’s so offensive. But it’s long as you saw it and you commented it works, but you don’t make any statement at all. Then it’s not remarkable. So give me an example. Today, I’m going to go to atwoods, hobby lobby. Triple it when I drive down the road, there’s, usually nothing remarkable. That gets my attention so therefore, I typically don’t remember the trips from point a to b to c. Typically, your hummer of love is the remarkable thing on the road that could be true. Jungle, themed autorap, but if I’m driving down the road I’m driving the hummer I’m driving home with the kids I’m driving towards lowe’s and there was somebody on the corner who was flipping a sign waving waiting trying to get our attention for this, puts wings place the restaurant that serves like buffalo, wild, wings kind of thing and a hot wings and they’re in there in the signs they’re trying to get our attention and they did to kill 1 to 10. What would you give them as a rating? You know now the best I’ve ever seen I mean the best ever I’ve seen companies that will pay somebody about 15 an hour to actually a flip business coaching signs it with their dexter, but really talented and skilled they’re, almost like choreographed people’s attention, because, if you’re not remarkable and what’s going to happen, if you’re going to lose, seth godin says keep your remarkable. It’s like that. Some people will, like you, that’s the part of the definition of remarkable nobody gets unanimous phrase ever the best the timid could hope for is to be unnoticed. Criticism comes to those who stand out. He goes on to say:marketing is a contest for people’s attention. So marshall read off some of the purple cows that we have documented that your business coach can help. You execute execute images. Your business coach can help you copy cat or to implement a similar move. We got what you want. You read off the samples that we would have gathered up for the tribe nation. Are we got a lot of them so we’ll run through them? Okay, one tom’s shoes. What what comes to mind with tom shoes. You buy a pair of shoes, they give a pair of what exactly and everybody knows that right, harrys.Com,

harry’s, razors, okay, so tom shoes is buy a pair. It’s by a brown should I buy a pair, give a pair right and then harry’s. This is a. This is a big deal with with harry harry is a german engineered blades. When you go to harrys.Com your first offer the first time you buy the blades, they always do it for three bucks used to be a dollar I’m sure. Eventually they won’t have that kind of a deal. But you get everything you need for three bucks, so you can try it out, which is pretty cool, I mean because job I mean once you once you receive the blades and you go. You know what this this company does. A good job, you’ll probably come back to dental depot chop is the next one yeah they got the trains right. I train actually parked in front of the literal train, a literal train park in front of a dentistry. What does the dentist have to do with the word? Depot? It’s an alliteration. They both start with a d and it works disney. They have music, it’s clean, it’s customer service, it’s great whole foods has earthy millennials and hipsters with dreadlocks name skyler starting new organic business coaching food. While women in yoga pants shop, I’m, looking shocked menus and they have chocolate starbucks, it smells good. It’s an experience. It’s not home and it’s not work. They’re charging you howard schultz has talked about this. Is it I’m not charging you based on the I’m, not charging you for coffee I’m charging you for the real estate for the atmosphere for the ambiance marshall he’s charging $4 for a cup of coffee, but he’s not charging for coffee at all.

That’s right! You charging for the experience. Think about that. The apple store great customer service, it’s modern, its innovative I’m, going to get very specific. They have great customer service, they have modern decor and they have the genius bar and they have the genius bar and they have the genius bar marshall. What’s the genius bar at the, genius bar is filled with experts, so somebody who’s may be struggling with learning how to use their apple product. They actually can go in book a time with a genius at the, genius, bar brindle just take time out to help you and walk you through teach you and they do that for free. A genius is somebody. Who’s worked really really hard for a long period of time to learn something right of you come a genius as result of not just inspiration to to put albert einstein. He says genius is 1% inspiration, 99% perspiration, a genie ass is somebody who wishes for things go and they wish they. They state the good. They claim big business coaching goals. They say this is what I want to do with my life. I’ve. Had this big all-big ambition, they say they said big goals, but they don’t have the discipline needed to execute the difference between a genius and a genie ass is is based on diligence and hard work. I says all the time to climb to say:listen that right. There is a genie, ass idea, cuz if you’re wishing and hoping but you’re not going to do the work needed a genius idea according to mr. A thomas edison and its 1% inspiration in 19 10% perspiration. If you’re, if you need help coming up with more purple cows, your business coach can help you. If you go to today show notes, you can find all of these ample examples of the human mind can handle available for you at thrive time show.Com. We come back or talk about determining your weekly, break-even and goal.