But you don't have to look at big companies to see great examples of this kind of thinking. Here are a few examples from the area where I live:
An espresso shop that opened in my area LONG before there was any sign of the espresso drinking crowd. Mercury Espresso was so early to the game that there was a coffee shop about 5 Kilometers away that worried about the impact on their business...Mercury filled a need that no one else had demonstrated or proven - and they have been busy ever since. There now are 4 espresso shops in the same area of Mercury, and a Starbucks... but Mercury did it first and paved the way for everyone else.
A local butcher set up shop several years ago. Their prices were significantly higher than the discount grocery stores in the area, but then so was the quality. They offered organic, and naturally raised meat products. The location of their store was not surrounded by similar businesses, and it would have been easy to question whether the business would succeed in the long run.
Since they opened -They have at least 3 or 4 local competitors, have been in business for several years and they are always busy thanks to the quality of their products (including over 20 different varieties of sausage that were rated best in the city) and the fantastic service you get from this family owned establishment.
I love supporting these businesses because I love to reward their courage. Next time you think about heading over to the usual coffee shop - think about supporting the entrepreneur that was running their coffee shop for years before SB figured out the area was a sure bet.
The other thing I've noticed about these businesses is that they usually make lots of money - are often successful because they are innovative or at least trailblazers in their locale, and they aren't seen as yet another burger "shoppe", tea merchant, or manicure pedicure place.
If you're and entrepreneur, if you're working on your start-up, or considering opening a local business - are you being bold or just following? Don't waste the opportunity - BE BOLD and make it part of your brand. You can also check out my post on "what kind of bricklayer are you". It might help.By Keith Jolie
(photo by LiAnna Davis)
In : Brand Building
Tags: brand differentiation "business planning" sales
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