Thinking from the back of the envelope…
Sometimes It’s Not Enough to be Unique
Sometimes the value we offer just doesn’t match a need in our market or community. As the common wisdom once went, “There’s no selling coal in Newcastle.” They’ve already got lots, thank you!
We call that a market without white space. It’s all filled with lots of shapes and colours already, and doesn’t need any more.
It’s also a sponge. When a sponge is full, shy of wringing it out, nothing you can do is going to make room for more. Changing up your offer by changing the temperature of the water, or adding food colour, or even pouring good scotch on it, won’t make it absorb one more drop. It’s not about you, the sponge is just full.
If a market is saturated with a product, service, or message, it is very difficult to get more uptake even if what you have to offer is truly different. If everyone in a neighbourhood has purchased a vehicle in the last 2 or 3 years, they aren’t going to buy another one no matter how unique or attractive your offer is. And yes, clusters of saturation like that really do exist. A combination of demographics, recent promotions, economic conditions, trends and fads, and just plain probability, can combine to create saturated markets.
Find a New Sponge
The answer? Find a new sponge. This could be a new demographic, a new geographic market, or a new market segment of any kind. You could go as far as Steve Jobs did and gamble that the right products will create their own markets.
The key is to remember that your brilliant ideas, products, and services are not enough to bring you success. Listening, learning, and paying attention to where the needs and fit are the greatest, matter at least as much.
I help businesses and organizations get the mix right. People and systems working together to produce remarkable results. Check out my website to learn about the different ways I can support your organization.
There’s more! Looking for success in your small business? Read my Small Business blog at Small Business Fundamentals (www.smbfundamentals.com).
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