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The Question Your Competitors Forgot To Ask
The foundation of many businesses is a simple what.
What do we serve and sell, for how much, at what profit margin?
Getting stuck in ‘the what’ puts you squarely in the commodities business. If the value you create is purely tangible then you’re not giving people a reason to care about your brand, or ways to form a connection that makes them remain loyal to your business. Someone somewhere can produce shorts or bake a loaf of bread cheaper than you can. And the consultant across town can offer four coaching sessions for the price of your three.
If you want to build a brand that creates difference and one that people feel connected to, the better question to begin with is the one your competitors most likely forgot to ask.
How are we creating value for our customers?
Because when you begin by understanding the truth about what really matters to your customers and take action on that, you can’t help but become the competition.
If you need to be convinced that meaning scales this video from Patagonia should do the trick.
Image by Jorge Quinteros.