Effectively positioning your startup
Clearly launching out as a startup, already defines it as a problem solver who has identified one and has the solutions to them which is compelling. Recruiting the best team, developing the best services or products, defining or communicating your brand and the work its set out to do is important when it comes to positioning. There are millions of startups sprouting everyday and growing existing markets or competitor which are too many for the prospective customers to remember.
Staying unique is good and ideal but being remarkable is what sets you apart.
To know how effectively you have positioned your startup, these are some few questions in the minds of prospective customers you need to have answers to.
What will your startup business do for them?
What makes your startup different from the others?
How does your startup meet or solve their needs and problems?
Is your startup here to stay?
Positioning yourself requires that you take your prospective customers needs into account, assessing the quality of what you are providing and also considering your competition.
Having effectively positioned your startup, prospective customers should easily remember your startup, easily identify with your brand, and identify with your services.
You should also assess the following:
Is it clear who should purchase, what they should purchase and why they should?
If you substitute a competitor, is it still compelling?
Does the point of differentiation link to the buyer’s goals?
How does it resonate with your target customers?
“You can’t be everything to everyone, but you can be something great for someone.”- Unknown
Your startup MUST be target oriented and a great solution to a “defined” problem. Don’t be a solution to every need. Have a target, serve a purpose, and solve a need at a time. BE REMARKABLE!
The first step in positioning a startup is also to understand these four market types:
Re-segmentation of an existing market
Re-segmentation of existing market by employing a niche strategy
The category in which a startups new services or products falls depends on the startup’s competitive strategy. How does the startup determine or develop its competitive strategy?
In my previous articles, I noted that a rising entrepreneur needs certain prerequisites to becoming a successful entrepreneur and emphasized on what I called the ‘entrepreneurial intelligence’. This comes to play when a startup knows when and what to do next to step up to its game. Note that, startup’s need to develop their strategies since there’s no foolproof to entrepreneurship. You can use this and other templates as a guide but not as your positioning format.
To be continued…
Author: Harmony Attise