Holistic biz note before the holiday weekend peeps: In biz as in life, make a point to own a lane by creating the circumstances for you to own a category for your offering. - And by own, I mean create a hard association between your product / service and the new category that's created. - When you do this, focus on promoting the category first, brand second. In the eyes of the market, if the association is strong enough, the category is your brand - there is no separation. - Even when competitors enter the space, being the 'first' to establish context for the category you're pushing is hard to combat. People vying for the similar position will have to market against or "other" to the existing narrative you already set. - The more competitors, the more the category will grow, and as the category gains traction, by association, you will gain traction too. - When there are more options, better becomes harder to assess, so it becomes much easier for people to just look to the first, the established, the market lead who owns the category and context, rather than shuffle through the deck of options. - Disclaimer: People will "shuffle," however, if you're present yourself as a commodity. And in this case, when they shuffle, they will often look to the lowest price. So unless you're willing to go to war over price point, and kill your profit margins ($$$) in the process, focus on creating and owning a category, and make sure your brand sits on top of that. - #MULFMAB advising, developing and empowering #creatives and companies within #fashion #music #art #tech #design and beyond on #business #marketing #branding #sales #finance #culture #softskills #businessbuilders #brandbuilders #dealmakers #cultureconnectors #entrepreneurs #creatives #Businessconsulting #Brandconsulting #Businesstips #Beawolfaboutyourdream #MYUBERLIFE #WULFuniversity #WÜLFuniversity #holistichack #Holisticsuccess
