How To Create A Name When You’ve Just Started Your Business

How To Create A Name When You’ve Just Started Your Business

When you start your own business, You’re ready to go out there and show the world what you’ve got. But very soon you face a big problem:

“How can I get clients without reputation?

The answer is Positioning

What is Positioning?

Positioning is creating a category inside the mind of your prospective customers.

It happens in the mind, not in reality.

The world is complex with a lot of product options, and it’s confusing for our mind. That’s our mind has a method for storing the data . It categorizes the world around us and uses these categories as shortcuts to remember things

We can keep around 7 items in any particular category inside of our mind. So if I ask you to name all the fast food franchisees you can think of, you can name around 7 of them, and then you pause to think about more to name. That’s how the mind works. Once a category fills up, the mind closes it

Most new business owners don’t understand this mentality, so they create a product or service and they try to get into a category that’s already saturated, and what happens? The customers mind doesn’t let them in. Because it’s already full.

If You Compete, You Lose!

What is the solution?
Create a new category in the mind of people that you can be first in and let others compete to get in.

 

How To Create a New Mental Category?

 Focus on an aspect of your customer’s need that’s important to them, but it’s not fulfilled. Discover an aspect of your customer’s need that is very important to them, it can be a specific result, a type of functionality, convenience, safety and guarantee, image, something that’s the key aspect to your customer.

You know, from what I’ve seen there is almost always at least a small part of the customer needs, maybe 10% or 20%, that is unmet, almost in all industries.

So your first and most important job is to discover those needs and wants in your customers and then build out your product to meet one of these needs or wants. And when you want to market your business, keep your focus just on that. This way you create a new category in the mind of your customers, and you become the first in that category.

If you think, it’s a difficult job to create a new category and become leader in it, this will bring smile to your face.

New Categories Emerge

Every business category eventually becomes 2 categories or more. Computers became laptops and desktops and tablets or cars became compact cars, mid size cars and SUV cars. Take advantage of this, predict these divergences and split the categories to create a category that you can own.

 

So Go deep into the available categories and try to narrow them down. So go in a niche inside another niche and look for the needs and wants, that are not met. The key is to become more and more specific, dive down and find that %10-%20 unmet needs. That’s your golden key. That’s where there is a huge potential for a new business, to just jump in, create a new category in the mind of customers, and position itself as the category leader, so when later the competitors want to enter into your category, you have a high chance to win the battle, because people know that category by your name.

 

Ok, I’m going to give you some success examples to get inspired

Jell-o, Kleenex, Tide and nowadays Starbucks

 

So, go deep in the existing categories, and find those tiny, but important needs, and put all your focus there.

 

Never get into a battle that there are already many players in it. If you do so, you’ve already lost because there is no room left in the mind of the customers

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