{"id":124901,"date":"2024-08-18T09:02:42","date_gmt":"2024-08-18T13:02:42","guid":{"rendered":"https:\/\/www.shortform.com\/blog\/?p=124901"},"modified":"2024-08-20T12:00:19","modified_gmt":"2024-08-20T16:00:19","slug":"differentiation-in-business-3","status":"publish","type":"post","link":"https:\/\/www.shortform.com\/blog\/differentiation-in-business-3\/","title":{"rendered":"Differentiation in Business: 2 Strategies for Standing Out"},"content":{"rendered":"\n<p>What&#8217;s <a href=\"https:\/\/www.shortform.com\/blog\/differentiation-in-business\/\">differentiation in business<\/a>? How can you stand out from your competitors?<\/p>\n\n\n\n<p>People are attracted to the unique and extreme, so to <a href=\"https:\/\/www.shortform.com\/blog\/how-to-get-customers-for-a-new-business\/\">attract customers<\/a>, Mike Michalowicz says you need a product or service that stands out and is unique to you. Otherwise, customers won\u2019t notice you among your competitors and you\u2019ll struggle to succeed.<\/p>\n\n\n\n<p>We\u2019ve organized Michalowicz\u2019s advice for differentiating from your competitors into two main strategies.<\/p>\n\n\n\n<!--more-->\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-strategy-1-develop-a-completely-unique-product-or-service\"><strong>Strategy #1: Develop a Completely Unique Product or Service<\/strong><\/h2>\n\n\n\n<p><strong>One way to practice differentiation in business is by developing a <a href=\"https:\/\/www.shortform.com\/blog\/what-makes-your-product-unique\/\">unique product<\/a> or service.<\/strong> This method eliminates all your competitors by redirecting customer demand in a new direction that no other companies are pursuing. And since you\u2019re the only one operating in this new niche\u2014an extremely unique position\u2014you\u2019ll attract customer interest and your company will grow more successful.<\/p>\n\n\n\n<p><strong>To do this, identify your industry\u2019s standard operating procedures<\/strong>\u2014the unspoken rules that everyone follows and expects from a company in that industry\u2014<strong>and then do the opposite.<\/strong> Specifically, Michalowicz recommends identifying which common strategies and policies <em>irritate <\/em>people. If your opposite approach resolves those issues, you\u2019ll attract customers both by being extremely unique and by improving their experience. <\/p>\n\n\n\n<p>One example of a company that developed a unique service is Amazon. Amazon made online shopping fast, convenient, and reliable, which radically changed the way people shop. Arguably, its success is partially due to the ways it resolved the annoyances of online shopping: Long shipping times make people more reluctant to shop online, so Amazon delivers packages within a few days\u2014or even on the same day\u2014of an order being placed. People don\u2019t want the hassle of buying their products through several niche stores, so Amazon offers a massive range of products. As a result, Amazon is the <a href=\"https:\/\/www.fool.com\/investing\/stock-market\/market-sectors\/consumer-discretionary\/top-ecommerce-companies\/\" target=\"_blank\" rel=\"noreferrer noopener\">largest ecommerce company in the world<\/a> by revenue and is on track to surpass Walmart as the largest of <em>any <\/em>company in the world.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-strategy-2-develop-a-unique-approach-to-delivering-products-or-services\"><strong>Strategy #2: Develop a Unique Approach to Delivering Products or Services<\/strong><\/h2>\n\n\n\n<p><strong>Another way to differentiate your company is by developing a unique approach to delivering your products or services.<\/strong> Even if you don\u2019t have a unique product or service, the <em>way <\/em>you deliver them can make your company stand out and grow more successful.<\/p>\n\n\n\n<p>Michalowicz says there are three elements to consider when developing your approach:<\/p>\n\n\n\n<p><strong>1. The aspect of business you prioritize.<\/strong> Michalowicz says you can choose to prioritize either quality, price, or convenience when delivering your products or services. Instead of being mediocre in all three areas, focus your energy on becoming the best in one of them. This leverages people\u2019s interest in the extreme that we discussed above. For instance, if you choose quality, you\u2019d focus on providing <em>extremely <\/em><a href=\"https:\/\/www.shortform.com\/blog\/high-quality-product\/\">high-quality products<\/a>. People will be attracted to the idea of receiving the <em>best <\/em>products, so they\u2019re more likely to buy from you, even if your company is more expensive or less convenient than your competitors.<\/p>\n\n\n\n<p><strong>2. The type of task you\u2019re most skilled at and most enjoy.<\/strong> Michalowicz says to focus on completing these tasks and leveraging your strengths as much as possible. Doing tasks you hate and lack the skill to properly complete wastes time and energy, so outsource those. For instance, if you hate bookkeeping and lack the skills to complete it quickly and accurately, you\u2019ll spend a lot of time struggling with it. In contrast, if you hire a bookkeeper, you can spend your time and energy on leveraging your strengths, such as landing new customers.<\/p>\n\n\n\n<p><strong>3. Your experience and personality.<\/strong> Your past experiences and personality inform how you operate your company. Since these elements of your life are unique to you, they make your company more unique, too. For example, a reserved individual may gravitate toward digital marketing and interacting with customers online, while an outgoing person may market through in-person events and personal relationships with customers.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>What&#8217;s differentiation in business? How can you stand out from your competitors? People are attracted to the unique and extreme, so to attract customers, Mike Michalowicz says you need a product or service that stands out and is unique to you. Otherwise, customers won\u2019t notice you among your competitors and you\u2019ll struggle to succeed. We\u2019ve organized Michalowicz\u2019s advice for differentiating from your competitors into two main strategies.<\/p>\n","protected":false},"author":14,"featured_media":128592,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[45,104],"tags":[1509],"class_list":["post-124901","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-marketing","tag-the-pumpkin-plan","","tg-column-two"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.3 (Yoast SEO v24.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Differentiation in Business: 2 Strategies for Standing Out - Shortform Books<\/title>\n<meta name=\"description\" content=\"If your product is the same as everyone else&#039;s, customers won&#039;t care about you. 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