There will be winners and losers.
Whether you know it or not, there is a NEW Economy. Rich and poor will co-exist. But the gap will become bigger and bigger like never before. The need to be in sync with where the money is moving is no longer an option but a necessity.
Money will move (still based on supply and demand) in such an abundance, you will be crazy – in fact insane – not to want to move where it (money) is.
Sitting on the fence watching it happen may be the equivalent of committing commercial Harri-Karri.
The name of the game is to be the least and last affected, not the first and most affected by competitive elements or economic disasters you may consider to be out of your control.
Here is how to move where the money is….
People make decision to buy on price if that is the only choice you give them and they don’t know your product is better until they buy. So having the best product or service gives you no marketing advantage whatsoever because they can’t tell until they have actually bought it.
Sure having the best product or service will bring you more referrals and more repeat business after the fact but not before the fact.
As an aside, that’s why book titles are so important and that’s why attractive people get more dates. You only find out about your compatibility after you are in a relationship. So you much get the idea out of your head that you deserve success because you have the best product or service in your category.
In fact, I will go so far as to say, having the best product or service can be a disadvantage because your marketing suffers. Instead, what you must do is differentiate your product or service and there are 5 ways to do this.
- The product itself – product breakthrough is valid but flawed if you know what I know. It’s flawed because it’s costly, time consuming and dangerous, yet still valid.
- Process change – Proactive, the pimple cream, you would have seen on TV has use a process change to become what I believe is a half a billion plus product per year. The process change is a thing called forced continuity. When you buy the first time you are forced to buy it for life or until you cancel. If it wasn’t for this process change it would never be a half a billion dollar product.
- Service differentiation – Tom Monaghan who created Domino’s Pizza built his empire on the delivery of pizza. I have a client who‘s built his Taxation Accounting business on it being a mobile to your home service and he’s taken an ordinary business and made it extraordinary by doing so… This is service differentiation.
- Personality, expert, celebrity – the George Foreman Grill was a product rolled out for Christmas pretty much purchased by people who couldn’t think of anything else to buy. However, once they attached the celebrity status of George Foreman to it, it became a multi-million if not billion dollar product.
- Streetsmart Marketing – marketing breakthrough is the best form of differentiation and the highest paying job, I believe, on the planet.
So, don’t fall for that “I’ve got such a great product or service, I shouldn’t have to sell or market it” mistake, instead differentiate your product or service through Streetsmart Marketing or die in the New Economy where money will move in abundance to those smart enough to differentiate.
All the best,
Committed to Elevating the Financial Wealth and Wellbeing of Society
Through Entrepreneurial Excellence and Guilty of Conspiracy to Create Capitalism
P.S. If you’ve missed any of my previous Rants, I have them all available
for you to see on my website.
Simply go to www.rebelliousrant.com and enjoy!