This is one of the most common mistake people make. Let me explain…
A differentiator is the one thing that sets you apart from the competition in the minds of your prospects and clients, customers or patients.
Your differentiator is what makes the difference between having a truly outstanding business or a faltering one.
Often your differentiator can be found in your business – you just need to articulate it in a way that makes you stand out from the crowd.
I can’t stress enough how important this is to you.
How can you expect your clients, customers or patients to be able to choose you, over and above any of your competitors, if they can’t quickly see what it is you do that is so unique and beneficial to them?
Outstanding businesses have been founded on a differentiator alone. For example, here’s a very well known differentiator…
“Red hot pizza delivered to your door in 30 minutes or less – guaranteed.”
Tom Monahan of Dominos Pizza created one of the most successful fast food businesses in the world from the strength of this differentiator. They currently produce $3.4 Billion in revenue!
Please don’t dismiss the importance of having a differentiator.
I guarantee your competitors are unlikely to have one. This will make a massive difference to the growth and profitability of your business.
Plus, there are other factors to consider…
If you are viewed by your clients, customers or patients and prospects to be the same as your competitors, what do you think becomes the important criteria when they want your product or service?
That’s right – price.
There’s no hiding the fact that as soon as you create your differentiator you automatically take your business out of the “price war” and into the nirvana of higher prices/fees – and less competition!
That’s the power of a differentiator.
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Alex MacArthur | Business Growth Mentor
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