What makes your business different?
This is one of the questions I always ask when working with a new client.
I’ve yet to be impressed by the answer.
And that’s what I’m looking for – to be impressed.
For the answer to be remarkable.
Because different is how you become the only choice.
Great service and results matter. But let’s face it, trying to compete by being better will only get you so far.
If better was the measure, everyone would buy the same products and services. But of course, there is a lot of subjectivity in what makes something better.
What “different” brings to the table is to highlight what matters most to a specific segment of the market.
Different helps you stand out and call out what your best clients think is different about them. What makes you different is what helps you figure out your positioning.
With positioning, you are defining why your service/business is the best option to deliver a solution for the specific people who care most about it. You are helping customers understand where you fit in the market and if you’re a fit for them.
Positioning needs to be specific and embody the special value you provide. That special value has to come from the mix of attributes and benefits that make your business different.
To position yourself powerfully, you need to be specific and have real proven differentiators.
There is rarely one unique attribute that can differentiate a service business from all others. So the key to differentiation is to find a special mix of differentiating attributes that as a whole make up your special sauce.
Here are different specialization and differentiation attributes you can consider to create that sauce:
Industry
Serving a particular industry is one of the most common forms of differentiation. And it’s one that freaks out small businesses quite a bit. They can’t imagine working with only healthcare companies – how boring! That’s just a trick our brain plays on us. When we choose an industry, we open up a whole lot of possibilities to be creative and deepen our expertise.
Type of service
This is when you focus on a particular area of expertise. As a business consultant, I chose to focus on positioning. It’s been so fulfilling to have the freedom to go deeper into this area. This is where you get the most bang for your buck and I get to go deeper with it now that I’ve chosen it.
Specific person/role
If it makes sense, you may want to focus on demographic traits. A life coach might focus on 50+ moms with teenagers also taking care of aging parents because they understand their specific stressors. Or a sales consultant might focus on new sales managers with aggressive quotas.
Size of company
A coach who has a lot of experience working in large companies with 10,000+ employees will understand the challenges a department within this size company will face.
I personally love working with firms/agencies with fewer than 10 employees because that’s my sweet spot.
Milestone/Specific challenge
We all have moments where we could use some support. Working with someone who offers help in that area would be really great. These are usually times when there’s a lot on the line. Things like hiring your first employee, speaking at your first conference, writing a book, planning a retreat, etc.
Business Model
There are countless business models. Being innovative with your model can work if that’s something your target market values. Productized services could appeal to very busy founders who have efficient systems and know exactly what they need. For example, I have a client who plans on having one campaign a month for their program. They would appreciate a service that gives them a fixed number of posts and emails for those campaigns. No need for customization.
Location
There are many reasons to focus on serving a market in a city/region near you. A key one is in-person interactions. I’m in my 11th year of self-employment and working from home. I would love to work with experts who live nearby so we could meet in person regularly.
Partnerships
This is where you forge interesting and valuable partnerships with other experts. For me that could be someone who helps people write a book or start a podcast. I would help them with positioning and then continue to advise as they work with a book or podcast consultant.
Differentiation in Action
I’m always looking for real-life examples of small businesses with great positioning and differentiation but it’s not easy. (Note: This is a good thing for all of us. It means that there’s lots of opportunity to show up differently and stand out to be super profitable in our chosen markets.)
While I’ll keep searching for great examples, I’ve gone ahead and come up with illustrative hypothetical examples of how different businesses might differentiate themselves by leveraging a mix of attributes.
Here are made-up examples of how differentiators can be leveraged to create a stand-out different business.
Generic Service: Business Coach
Differentiated Version: A business coach who works with new small Canadian end-of-life businesses (funerals, wills, burial insurance, decluttering etc.) to create effective and focused go-to-market strategies.
Differentiator mix:
- Industry/Category: end-of-life businesses
- Milestone/specific challenge: launching a new business and needs go-to-market help
- Size: small
- Location: Canadian – regulatory concerns or laws come into play
Generic Service: Copywriter
Differentiated Version: A copywriter who works with medical tech companies who want to be acquired in the next 2-3 years.
Differentiator mix:
- Industry: Medical Tech
- Specific Challenge: goal to be acquired
- Specific service: Create all your content for sales pitches, marketing, advertising, thought leadership etc.
Generic Service: Web Design/Development
Differentiated Version: We design beautiful, fast, and high-converting websites for craft brewers who want to expand their share of the market.
Differentiator mix:
- Industry: Craft breweries
- Specific challenge: Looking to expand beyond their existing market
Generic Service: Fitness Training
Differentiated Version: We work with divorced women who have done lots of personal development and want to be their best selves as they start dating again. We help them make their outsides look as good as they feel inside.
Differentiator mix:
- Specific person: divorced women
- Specific challenge: starting to date again
- Partnership: Stylist who works with you as your body changes and photographer who takes amazing photos that don’t look too ‘styled’
I love, love, love helping business owners get specific and be different. In a world that is filled with so much generic goo, nothing lights me up more than figuring out what makes someone irreplaceable.
“In order to be irreplaceable, one must always be different.” ~ Coco Chanel
Let’s find your differentiated mix so you stand out to your best customers. Book your free call here.