From Individual to Empire by Laura Bull

Author:Laura Bull
Language: eng
Format: epub
ISBN: 9781632992628
Publisher: River Grove Books
Published: 2020-01-15T00:00:00+00:00

Your peers are not the competition; the competition is the person who is already a superstar.

Ask yourself, what do you do better than Miranda Lambert? What do you do better than Oprah? Pull out those notes with your passions and strengths and focus on those attributes. You have a unique point of view from a lifetime of experiences, which no one else can replicate.

Life coach Marie Forleo preaches, “No other person ever has, or ever will have, the unique blend of talents, strengths, and perspective that you have.” Even if doubt arises, because it doesn’t look like there is room in the marketplace for your product, know that’s not true. Forleo encounters these doubts frequently with her entrepreneurial clients. In rebuttal she points to Beyoncé.

Imagine if Mrs. Knowles-Carter had chosen not to release music from Destiny’s Child because the marketplace was already crowded with female bands. Back in the 1990s, music fans adored R&B girl band TLC, and the Spice Girls claimed world domination. However, these three brands could not be farther from each other on the musical spectrum, and the marketplace had room for each. Destiny’s Child had a unique product shared in a unique way to a unique segment of the market, which earned the group millions before they disbanded and Beyoncé catapulted into superstardom.

One way to fine-tune your product is to categorize your tangible good or service within the marketplace. We can place Miranda in many marketable categories; the further you dig, the better off your product will be. For instance, Miranda’s product falls under the vast umbrella of the entertainment industry; within that arena, she resides in the music category. Digging further still, she’s a country music singer. How about a female country singer from Texas? How about a female country singer-songwriter from East Texas with influences of Merle Haggard and John Prine? Are we narrowing down her product? Are we eliminating possible competition? You could go on, and you should. Be bold and create an entirely new category!

Wherever you land will determine a lot about how you market your product. You will know which retailers to target, the audience to woo, and even what you should charge. And, in a little bit of a “what comes first: the chicken or the egg” scenario, that category will also dictate the form your product should take.

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