How to Survive Against Fierce Competition

shortcut

Dealing With Competition

The Reum brothers, Courtney and Carter, are known for their roles on the television show Hatched. They are also behind many household brand names including big names such as Lyft, Pinterest, Warby Parker, and Shake Snack. Their new book, Shortcut Your Startup: Speed Up Success with Unconventional Advice from the Trenches is full of advice and shortcuts for those who want to take a start-up organization and scale it quickly.

 

In the Introduction of your book, you talk about both how it’s cheaper and easier than ever to start a business but also that the competition is more fierce than ever, too. What are the implications of these market forces?

The effects are twofold. On one hand, an abundance of resources has recently come into existence that—in a vacuum—would make life infinitely easier for any entrepreneur. Obvious examples are Kickstarter, social media marketing, Amazon’s e-commerce platform, data analytics—the list goes on. Obviously, these facilitate the arduous and historically expensive process of starting a business. Just look at the following graph showing the decrease in time needed to scale a brand.

Copyright Reum Brothers, Used by Permission.

The problem with these resources, however, is that everybody has access to them. Since these goods and services simplify business building, more and more people enter the landscape and competition increases. While the increased number of competitors certainly is an implication, a more important one is that it becomes significantly more difficult for the best business to separate itself from the crowd.

 

Use a Microscope and a Telescope

Another juxtaposition of ideas is from the old saying that you need to have a microscope on one eye and a telescope on another. You also use the speedboat versus sailboat analogy. Talk about this and how aspiring entrepreneurs need to understand the differences and their role.

Why Standing Out is More Important than Ever

 

Your Personal Buzz

Recently, I shared my observations about all things honey.  A honey festival demonstrated that it’s possible to differentiate almost anything—at least from my uninitiated view of the product.

 

“Why fit in when you were born to stand out?” –Dr. Seuss

 

Differentiate YOU

That amazing array of honey products got me thinking about personal brand.  We are all at a fair of sorts.  Whether the marketplace or in your social circles, there are many others competing for time, for opportunity.  How do YOU differentiate YOU?

Most of us don’t think about a conscious plan for standing out.  We have learned to blend in.  But great leaders stand out.  Work that is extraordinary captures our attention.  If you fail to stand out, you will be passed over at promotion time.  Overlooked in the marketplace.  Ignored for the most important opportunities.

 

“Great leaders stand out.” –Skip Prichard

 

Some work stands out so much that it generates that viral buzz that the media savors.  If it makes you uncomfortable just thinking about that type of attention, I have good news.  It often is tiny differences that make the big difference.  Success often happens at the margin.  If your work is only slightly better, you have an enormous advantage.  Often we look with interest at the shocking or spectacular, but settle for purchasing or consuming something closer to our version of normal.  The choice we make, however, is usually one that is just ahead of the competition.

Are you a leader?  Leaders do not blend in.  They don’t hide their unique qualities.

 

“Be the one to stand out in the crowd.” –Joel Osteen

 

Are you a blogger? More than the look and feel of your blog is the personal touch, the sharing, the authentic voice.

Do you have an upcoming speech?  Share a personal story or do something that no one else would do.

Creating A Buzz: 7 Ways to Stand Out

It’s a honey festival.  What would you expect?  Honey!  And honey is a commodity, right?  It’s all the same.  If you want honey for a recipe, or to add to some hot tea, you pick up some honey at the store.

My view of honey completely changed when I attended the Lithopolis Honey Festival last year. I left not only with new information about honey, but also with observations on how to make nearly any business stand out.

Arriving at the festival, I see the streets have been closed to allow for tents to fill the streets.  People are everywhere, crowding the vendors.  With so many people milling about, how do the honey manufacturers attract customers?

As my family walks down the street, we stop to visit each table.  I begin to notice how wrong I am about honey.  There are innumerable ways that each company is different.

STAND OUT

Here are a few ways that I began to see the differentiation:

Don’t sell a product.  Entertain the audience.  Crowds gather around to see “Bee Beard.”  That’s where a man of perhaps questionable sanity has somehow managed to create a beard made of hundreds of bees, extending down his body and circling his head.  From the number of people crowding around, it’s clear that this team is successful.  It’s hard not to stop and take a look.

Use personality to develop loyalty.  Some honey producers were present in the aisles with a friendly smile. They were not accosting or overly aggressive.  These savvy customer service honey sellers met us in an engaging way, answering questions.  Somehow in the first minute, we know the history of the business and the family.  You don’t need an academic study to know that you are more likely to buy from someone you know.

Create unexpected flavor.  Did you know that honey could come in cinnamon or raspberry?  Resisting the chance to try various flavors is futile, so we stop and taste a few.  Now we are comparing notes, sharing tastes.  Engaging with a product in this way increases the sale opportunity. 

7 Tenets of Taxi Terry

It Started With A Question

 

“Are you ready for the best cab ride of your life?”

When the door slammed shut, Scott McKain wasn’t only taking a cab ride to his hotel.  He was embarking on one of the greatest customer experiences he could imagine.  Not only would Scott enjoy a memorable cab ride, he would exit that taxi with lessons that can make a difference in every business.

 

Research: 73% of customers will do business with you because of friendly employees.

 

 

The taxi driver, Taxi Terry, didn’t know that he had just picked up my friend, bestselling author, extraordinary professional speaker, and customer service expert Scott McKain.  Of all the people in the world to pick up at the airport, Taxi Terry picked up a global expert in standing out, in the art of distinction. In fact, he is the Chairman of the Distinction Institute.

 

7 Tenets of Taxi Terry

  1. Set high expectations and then exceed them.
  2. Delivering what helps the customer helps you.
  3. Customers are people, so personalize their experience.
  4. Think logically and then act creatively and consistently.
  5. Make the customer the star of your show.
  6. Help your customers come back for more.
  7. Creating joy for your customer will make your work–and life–more joyful.

 

That simple, enthusiastic question, directed to an exhausted traveler one night was the beginning of a customer experience that tens of thousands of people have learned from. Scott has presented the lessons he learned to audiences around the world.  And the lessons are now available in a new book, one that will inspire you.  7 Tenets of Taxi Terry is sure to be one of the enduring business books that will come up in conversations everywhere (yes, even in a cab!).

 

“If you want your business to get better, the first step is for you to get better.” –Scott McKain

 

Do You Want to Create Memorable Customer Experiences?

4 Cornerstones to Create Distinction

In an increasingly competitive marketplace, how can you make your business stand out?

When you’re competing for the job or the promotion, how do you not only differentiate yourself from others but distinguish yourself as the best candidate?

What do you do when you’ve already taken your business from good to great, but great doesn’t cut it?

Creating Distinction

Scott McKain is a global expert in the art of distinction. In an increasingly competitive marketplace, Scott helps companies rise above mediocrity and sameness to achieve record growth.  His own career is also distinctive.  He’s one of my favorite professional speakers. He is both a member of the Speaker’s Roundtable and the Speakers Hall of Fame.  He’s a bestselling author and also a personal friend.9781608324262

Whether in the boardroom or on the platform, Scott is passionate about helping businesses and individuals create distinction.  His latest award-winning book is called Create Distinction.  I love what the subtitle adds: What to Do When Great Isn’t Good Enough to Grow Your Business.

Do you ever feel that way?  That your business is great, but in the world we are in, great just isn’t good enough?  What do you do?

Scott McKain offers what he calls “The Four Cornerstones of Distinction”:

  1. Clarity
  2. Creativity
  3. Communication
  4. Customer-Experience Focus

 

CLARITY

 

The first cornerstone of distinction is clarity.  This requires you to define who you are, what you’re about, and, just as importantly, who you are not.

Clarity means you are precise about who you are—and just as exact about who you are not! Scott McKain