Some things are just nice to look at. They demand eyeball time, so we investigate further.
What does your website, bottle, office, church, uniform, gadget look like?
Category: strategy
What Do You Stand For?
Here’s a tail of two brands collaborting for mutual benefit harm?
McDonalds and the Heart Foundation ‘Tick’.
I won’t bore you with all the details suffice to say McDonalds Australia paid $330K a year for the privilege. Sure the Heart Foundation tick isn’t on the french fries, but does this enhance either brand or simply breed greater cynacism for both corporations?
It’s no different for start ups, you’re judged by who you dance with.
Who Are Our People?
Is it enough to define your market as a group of people? It doesn’t sound very strategic. It wouldn’t stand up in an MBA assignment. The question we must ask ourselves is: Do ‘our’ people want to be strategically defined?
Maybe the term target is better than consumer or prospect? They’re still people, right? I don’t think so. No one wants to be a target. I don’t. Not for anyone, thing or corporation. Makes us feel like a cartoon rabbit in the wrong season.
If we must be more deliberate than using the word people. What can we use and maintain our direction?
I prefer the terms audience or community.
Box Of Fruit
While sitting in the reception of an ad agency a delivery came to reception that had us gobsmacked.
A box of fruit. Which sells direct for between $20-$50. Plenty of margin there. What I loved about this was the simplicity. The barriers to entry are non existent. Think of the concept today, revenue next week. Start up cost close to Zero.
Although it is easy to copy (there are now 3 of these operators in my City), it has a natural lock out device built in. There’s only room for one player in each office block. It’s a personal service where the relationship is core. Anyone can bring there own fruit to work – cheaper, so it isn’t price driven. Once you’re in, it would be very hard for another player to push you out. It also builds the things companies buy; brands & distribution.
Back to the gobsmacking… my busines partner and I swore that our next business would be as simple as a ‘box of fruit’.
Authenticity
Seems to be the word of the day in relation to startups and marketing in general. But do we really know what it is to be Authentic?
Here’s the Start Up Blog definition:
Authentic – Not being embarrassed about or having to hide, anything you do.
We shouldn’t worry about which words we use, rather how we live up to their underlying intention.
First to Market?
Being first to market is the best way to ensure success. (please re-read the last sentence) You’re inventing money. But it’s still possible to make significant dint in the market if you’re late and better, or you’ve pulled a copy cat move in a new geography.
Just in case you’re halfway through a startup launch and you’ve been devastated to find another player doing ‘your idea’, I’ve pictured a few inspirations to help you stay the course.
late but better
copycat in new geography
late but better
copy cat in new geography (NZ Ebay)
($700m sale price)
late but had distribution
late, but cheaper production method
Be a Surfer
The art of surfing is far more complex and considered than one might imagine. It’s much like Entrepreneurship. The perfect wave is different for different surfers. But some principals never change.
As a surfer you’re constantly assessing the situation. Before, during and after the session. But before you enter the ocean some decisions must be made.
Crowds – Smart surfers avoid crowded conditions. Even if the waves are perfect. You’re better off a little further down the beach where the waves are smaller but, at least you’ll catch a few.
Market Size – When you’re learning to surf, you don’t paddle out into the biggest waves you can find. You learn in the small stuff where conditions are more gentle and forgiving.
Investment – When learning there’s no point spending large sums of money on the latest equipment. You go to a garage sale. You pull together some stuff to do it – cheap. You might not enjoy it.
Market Entry – Before you paddle out you assess the best way to reach the line up of waves. It’s best to avoid the dumpers. They’re hard to push through. You’re much better off on the edge of the waves and letting the rip pull you out. Use the momentum of the ocean. Don’t paddle against it.
Positioning – You also need to know where to sit in the line up. Where to position yourself amongst the other surfers. Not too close, or you’ll both be fighting over the same waves. This is only relevant if there are other surfers in the water. Hmmm, I’ve got an idea…
Niche Market – Number one rule of surfing. If you find a secret spot with plenty of waves and no crowds, don’t tell anyone.
Experience – Know your limitations. It’s fine to get into the big stuff. But you have to be aware of the risk of drowning.
Incumbents – Locals can be very protective of their waves. It’s often better to surf in locations you know well and have the respect of others.
Preparation – It’s good to know how to swim before you even attempt surfing.
The Ride– Surfing is about radical moves, risk taking. The glory and ultimate rush doesn’t come from riding a wave in a straight line to the shore. How boring.
Exit Strategy – When you’re surfing on a reef or rocky point, you need to know where to exit. Sometimes you can’t exit a surf spot the way you entered. The tide might be low and the reef will cut you up.
Changing Winds – A good surfer can read the changing conditions, and know when to catch a wave in and be satisfied with what was achieved.
Be a surfer.