As a starter in small buiness, what should we do once we have a good business idea? Well, you should evaluate it prior to execution. Good idea is a good start but you might as well have to consider one critical question: what is your niche, your specialness?
DR. Lynda Falkenstein emphasized this concept in “Nichecraft”(1996): “..Eliminating the competition (without bloodshed), distinguishing your business from everyone else’s,and getting the right customers clamoring for your product or service in any economy are the most basic requirements for business success today. Whether you are running a small “Mom and Pop” operation or are CEO of a major corporation, the rule applies: you can no longer simply compete against anyone in a similar field. Not if you want to win, that is. The fact is , you win by being perceived as special, singular, unique, one of a kind. You must create a niche that you own, that nobody can steal or take from you, and that achieves your goals…….”
In this tight competition world, you have to be “special” in order to stand out of the crowd”. Once you chose to become average guy ,you surely become a commodity. Thus, your business should have a certain position in customer mind. Position that differentiate you profitably compare to others. As Regis McKenna once said in his “The Regis Touch:Million Dollar Advice from America’s Top Marketing Consultant”(1985): “ …Product Positioning must be the first step. The idea behind product positioning is simple. To gain a strong product position, a company must differentiate its produsts from all other products on the market. The goal is to give the product a unique position in the marketplace…..”
That way, you shall have a very strong fundamental for business success.
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