[ Pobierz całość w formacie PDF ]
.When this happens, you neglect your own product and become reactive instead ofproactive.Are your eyes on your vehicle and the road ahead? Or are you rubbernecking at the cars allaround you? Oh no! Excel Limousine dropped its hourly rate by five bucks! Mercy, call out theprice police! Heavens! Godfrey Limousine is advertising its limousine as a 2009 model when it sa 2003 model! I m calling my attorney!If your eyes are glued to the competition s ass, guess what? Your eyes aren t on the road ahead.If you re following, you aren t leading, and if you aren t leading, you re not innovating.IfCompany X does something and you react, you are being reactive, not proactive.Why aren tthey following your lead? If your preoccupation is with every single thing your competitiondoes, you re cheating your business and your customers.HOW TO USE YOUR COMPETITIONAnother dead professor moment: Forget about your competition 95% of the time.The other5% should be used to exploit their weaknesses and differentiate your business.If you forgetabout your competition, you re forced to focus on your business, which is to innovate and winover the hearts and minds of your customers.And when you fill needs and your army ofcustomers grows, something suddenly happens: Everyone follows you.In my industry, I lead the pack.I innovated and everyone followed me.If I instituted a newfeature, my competition would add the same thing months later.I introduced the leadgeneration revenue model, and it was copied dozens of times.My eyes weren t affixed toeveryone else because I was preoccupied with my own success and the satisfaction of mycustomers.On the rare occasions you peek in at your competition, do so for exploitation.Mine theirweaknesses and differentiate your product.Uncover what you should be doing that they aren t.Find the need.Exploit their customer service gaffes.Is it impossible to receive good service? Dodissatisfied customers litter the Web with their displeasure?When I launched my limousine directory, my competition consisted of existing Web sites andthe traditional Yellow Pages.The weakness of both was risk.To advertise, you had to pay a bigupfront fee regardless of benefit.If you spent $5,000 and acquired one new customer, you justTHE) MILLIONAIRE) FASTLANE:) Crack) the) Code) To) Wealth) and) Live) Rich) for) a) Lifetime.)Copyright) 2011:) Unlawful) distribution) or) reproduction) is) strictly) prohibited.) spent $5,000 for one client.Scary risk proposition, huh? I thought this was too risky forbusiness owners, so I sought to solve it.For mature companies, competition often serves to exploit what you shouldn t be doing, versuswhat you should be doing.My closest competitor was known never to answer their email.Thisgave me an advantage.If you are going to take your eye off the road and examine yourcompetitors, expose their weaknesses.Exploited weakness is where brands are built:Differentiation is a defense to commoditization.What are they doing wrong? What inefficiencyis there? Within the gray area of unsatisfied customers lies differentiation.The only alternativeto boorish me-too goods and services is differentiation, and that is accomplished by innovationand analyzing your competitor s weaknesses.Force innovation.CHAPTER SUMMARY: FASTLANE DISTINCTIONS" Commoditization occurs when you get into business based on a false premise I wantto own a business or I know how to do this, so I ll start a business doing it. " If you are too busy copying or watching your competition, you re not innovating." Use your competition to exploit their weaknesses.THE) MILLIONAIRE) FASTLANE:) Crack) the) Code) To) Wealth) and) Live) Rich) for) a) Lifetime.)Copyright) 2011:) Unlawful) distribution) or) reproduction) is) strictly) prohibited.) CHAPTER 43 -- Build Brands, Not BusinessesEveryone has an invisible sign hanging from their neck saying, Make me feel important. Never forgetthat message when working with people.~ Mary Kay AshQUEEN ME: MARKETING AND BRANDINGIn chess, lose your queen you lose the game.In business, most entrepreneurs play the gamewithout their captured queen.Have you ever bought a product from television, and when you used it, it sucked and didn tperform as advertised? Then, in dissatisfaction, you tried to return it and got the runaroundfrom a guy who sounded like he had a double-digit IQ? That is the power of marketing: badpeople, bad service, and bad product, but AWESOME MARKETING.If you have an OK product(a weak knight), poor customer service(drunk bishops), and incompetent people (a castle full ofidiots), you can survive with a powerful queen.The queen is the most powerful piece in chess and it is also in business.Marketing can convincepeople to buy mediocre products.Marketing can hide or disguise service flaws.Marketing canshadow incompetence, and marketing can keep convicted felons disparate from their product.The power of marketing is that a powerful ad campaign can move products, regardless of thecockroaches hiding underneath.Marketing is a game of perceptions, and whatever theperception is, that s the reality.BUILD A BRAND, NOT A BUSINESSBusinesses survive.Brands thrive.A brand is the best defense to commoditization.When yourbusiness is in business just to make money and pay the bills for the month, you re playingcheckers and being one-dimensional.People are loyal to brands and relationships, notcorporations or businesses.THE) MILLIONAIRE) FASTLANE:) Crack) the) Code) To) Wealth) and) Live) Rich) for) a) Lifetime.)Copyright) 2011:) Unlawful) distribution) or) reproduction) is) strictly) prohibited.) I love Coke and I hate Pepsi.I m loyal to Coke, and I don t care if Pepsi suddenly becomes onebuck cheaper I ll always buy Coke.Coke has built a brand, and the power of that brand is afirm loyalty that is difficult to sever.Is Coke objectively better than Pepsi? I don t know or care.When you think about the automobile Volvo, what do you think of? I think safety.How aboutPorsche? I think speed.How about Ferrari? I think rich.Volkswagen? Practical.Toyota?Reliability.Yet, when someone mentions Chevrolet, nothing clear comes to mind other thanlooming bankruptcy, union squabbles, and unpredictable reliability.Some auto manufacturershave carved out strong brands, while the others fortify a business.Our friend with the carpet-cleaning business also has a business and not a brand.Brands don thave identity crises, businesses do.If our friend wants to excel in an industry saturated withme-toos, he s going to have to brand himself and differentiate himself.He needs to be aLamborghini in a traffic jam of Chevys.What will make his carpet cleaning business differentfrom the rest? Why should people hire him even though his prices might be 20% higher?These tough questions have tough answers, especially since his entry into the industry wasbased on a faulty premise.However, upon further investigation, most of his unscrupulouscompetitors use bait-and-switch advertising tactics gummed down with fine print.Perhaps thisindustry weakness is exploitable? My challenge to him was to leverage that nuisance [ Pobierz całość w formacie PDF ]
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.When this happens, you neglect your own product and become reactive instead ofproactive.Are your eyes on your vehicle and the road ahead? Or are you rubbernecking at the cars allaround you? Oh no! Excel Limousine dropped its hourly rate by five bucks! Mercy, call out theprice police! Heavens! Godfrey Limousine is advertising its limousine as a 2009 model when it sa 2003 model! I m calling my attorney!If your eyes are glued to the competition s ass, guess what? Your eyes aren t on the road ahead.If you re following, you aren t leading, and if you aren t leading, you re not innovating.IfCompany X does something and you react, you are being reactive, not proactive.Why aren tthey following your lead? If your preoccupation is with every single thing your competitiondoes, you re cheating your business and your customers.HOW TO USE YOUR COMPETITIONAnother dead professor moment: Forget about your competition 95% of the time.The other5% should be used to exploit their weaknesses and differentiate your business.If you forgetabout your competition, you re forced to focus on your business, which is to innovate and winover the hearts and minds of your customers.And when you fill needs and your army ofcustomers grows, something suddenly happens: Everyone follows you.In my industry, I lead the pack.I innovated and everyone followed me.If I instituted a newfeature, my competition would add the same thing months later.I introduced the leadgeneration revenue model, and it was copied dozens of times.My eyes weren t affixed toeveryone else because I was preoccupied with my own success and the satisfaction of mycustomers.On the rare occasions you peek in at your competition, do so for exploitation.Mine theirweaknesses and differentiate your product.Uncover what you should be doing that they aren t.Find the need.Exploit their customer service gaffes.Is it impossible to receive good service? Dodissatisfied customers litter the Web with their displeasure?When I launched my limousine directory, my competition consisted of existing Web sites andthe traditional Yellow Pages.The weakness of both was risk.To advertise, you had to pay a bigupfront fee regardless of benefit.If you spent $5,000 and acquired one new customer, you justTHE) MILLIONAIRE) FASTLANE:) Crack) the) Code) To) Wealth) and) Live) Rich) for) a) Lifetime.)Copyright) 2011:) Unlawful) distribution) or) reproduction) is) strictly) prohibited.) spent $5,000 for one client.Scary risk proposition, huh? I thought this was too risky forbusiness owners, so I sought to solve it.For mature companies, competition often serves to exploit what you shouldn t be doing, versuswhat you should be doing.My closest competitor was known never to answer their email.Thisgave me an advantage.If you are going to take your eye off the road and examine yourcompetitors, expose their weaknesses.Exploited weakness is where brands are built:Differentiation is a defense to commoditization.What are they doing wrong? What inefficiencyis there? Within the gray area of unsatisfied customers lies differentiation.The only alternativeto boorish me-too goods and services is differentiation, and that is accomplished by innovationand analyzing your competitor s weaknesses.Force innovation.CHAPTER SUMMARY: FASTLANE DISTINCTIONS" Commoditization occurs when you get into business based on a false premise I wantto own a business or I know how to do this, so I ll start a business doing it. " If you are too busy copying or watching your competition, you re not innovating." Use your competition to exploit their weaknesses.THE) MILLIONAIRE) FASTLANE:) Crack) the) Code) To) Wealth) and) Live) Rich) for) a) Lifetime.)Copyright) 2011:) Unlawful) distribution) or) reproduction) is) strictly) prohibited.) CHAPTER 43 -- Build Brands, Not BusinessesEveryone has an invisible sign hanging from their neck saying, Make me feel important. Never forgetthat message when working with people.~ Mary Kay AshQUEEN ME: MARKETING AND BRANDINGIn chess, lose your queen you lose the game.In business, most entrepreneurs play the gamewithout their captured queen.Have you ever bought a product from television, and when you used it, it sucked and didn tperform as advertised? Then, in dissatisfaction, you tried to return it and got the runaroundfrom a guy who sounded like he had a double-digit IQ? That is the power of marketing: badpeople, bad service, and bad product, but AWESOME MARKETING.If you have an OK product(a weak knight), poor customer service(drunk bishops), and incompetent people (a castle full ofidiots), you can survive with a powerful queen.The queen is the most powerful piece in chess and it is also in business.Marketing can convincepeople to buy mediocre products.Marketing can hide or disguise service flaws.Marketing canshadow incompetence, and marketing can keep convicted felons disparate from their product.The power of marketing is that a powerful ad campaign can move products, regardless of thecockroaches hiding underneath.Marketing is a game of perceptions, and whatever theperception is, that s the reality.BUILD A BRAND, NOT A BUSINESSBusinesses survive.Brands thrive.A brand is the best defense to commoditization.When yourbusiness is in business just to make money and pay the bills for the month, you re playingcheckers and being one-dimensional.People are loyal to brands and relationships, notcorporations or businesses.THE) MILLIONAIRE) FASTLANE:) Crack) the) Code) To) Wealth) and) Live) Rich) for) a) Lifetime.)Copyright) 2011:) Unlawful) distribution) or) reproduction) is) strictly) prohibited.) I love Coke and I hate Pepsi.I m loyal to Coke, and I don t care if Pepsi suddenly becomes onebuck cheaper I ll always buy Coke.Coke has built a brand, and the power of that brand is afirm loyalty that is difficult to sever.Is Coke objectively better than Pepsi? I don t know or care.When you think about the automobile Volvo, what do you think of? I think safety.How aboutPorsche? I think speed.How about Ferrari? I think rich.Volkswagen? Practical.Toyota?Reliability.Yet, when someone mentions Chevrolet, nothing clear comes to mind other thanlooming bankruptcy, union squabbles, and unpredictable reliability.Some auto manufacturershave carved out strong brands, while the others fortify a business.Our friend with the carpet-cleaning business also has a business and not a brand.Brands don thave identity crises, businesses do.If our friend wants to excel in an industry saturated withme-toos, he s going to have to brand himself and differentiate himself.He needs to be aLamborghini in a traffic jam of Chevys.What will make his carpet cleaning business differentfrom the rest? Why should people hire him even though his prices might be 20% higher?These tough questions have tough answers, especially since his entry into the industry wasbased on a faulty premise.However, upon further investigation, most of his unscrupulouscompetitors use bait-and-switch advertising tactics gummed down with fine print.Perhaps thisindustry weakness is exploitable? My challenge to him was to leverage that nuisance [ Pobierz całość w formacie PDF ]