As many of you know if you read our posts, we are fans of Shark Tank. We enjoy watching the potential investors analyze a business investment in order to discover its extraordinary promise of value and its potential to provided a healthy return on their investment. Here is an example:
One of the candidates invented an organic energy bar using cricket flour for protein. Reluctantly the investors tasted it and proclaimed it good, however, they were not willing to invest. Who needs another protein bar in the market regardless of how good the ingredients are?
As the owner of the company talked, he let them know that crickets are a rich sustainable protein and a favored food of many countries. Three of the investors were still not interested and expressed that they were “out”.
As he continued to talk, he mentioned that the FDA (Federal Drug Administration) had given him approval (he is the only one, so far) for his cricket flour. He also mentioned that other manufacturers of protein bars had approached him to purchase his flour. Then, Mark Cuban jumped in, and said you should be in the cricket flour business and not in the protein bar business, at which point he was ready to invest.
Defining the right brand position can determine whether or not your target market will perceive your extraordinary promise of value. Are you just another agent or broker in the sea of sameness, i.e. another energy bar? Or, do you have a value proposition that is a clear stand out, i.e. cricket flour? Whenever possible, the best way to position your brand is to define your professional services in a unique category.
Written by Ron & Alexandra Seigel-
ABOUT: Napa Consultants, International is the leader in brand strategy for the luxury real estate industry. They work exclusively with professionals who are passionate about gaining or sustaining market leadership. With an expertise in personal branding, company branding, luxury real estate website design and social media marketing they help their clients become the breakaway brand in their marketplace.
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