HOW TO MAKE YOUR STARTUP STAND OUT IN A CROWDED MARKET

STAND OUT FROM THE CROWD: Over millions of startup businesses operate today across the globe and within the local industries. The market is very competitive and startups need to break barriers to get their businesses under the spotlight and to target customers. The challenges to standout and not be just a competitor but a real business meeting needs, is a hard task but, startups have to identity what makes their businesses special and unique. The standards are high and failing to meet them spot on and beyond, is crucial for survival.

Competition is a necessary evil for business growth. It keeps businesses on toes to keep delivering and making positive impacts beside making the millions bucks. Competition is also a motivational drive for startups to revisit their business goals, core visions and strategies to build up and fill the missing gaps.

Our everyday life is a competition. It can not be avoided. The idea of becoming better than another is a good motivation for change, consistency and betterment. There are other businesses providing same products and services within same demographics, at same price and value with similar packing and branding. The underlying core is what makes you special? Why should the consumer buy from you?

This awareness of other competitors in your industry is a good drive for startups to always be on top of their game.

Standing out does not only mean a possibility of good customers, break even, or building a competitive brand. It’s also a way to position your startup for strategic partnerships, financial support and attracting investors. Giving your business a competitive edge is pretty much a lot of work, and quite frustrating when the big companies have all the financial backing and adequate establishments needed to overshadow you in a blink.

As more startups emerge and popular industries gets crowded, startups need the X factor to stand out in an already booming market. Something about your business, products and services, have got to drive customers to you instead of your competitors. Something unique has got to ignite the spark in customers to choose you.

These Seven (7) Steps Will Help You Stand Out.

1. BE ORIGINAL; BE UNIQUE

I’m afraid I can’t say this for 80% of startup businesses today. Many startups are operating in crowded markets without their own original identities and brands. You can neither tell the difference from one business to the other. Before starting a business, it’s necessary to take the pain to research a little about your choice of industry, existing competition, your target consumers and the product or services you want to provide.

This will give you some good understanding of what to create and how to offer it. To be unique and original in a crowded market is just a step away from the desired success and growth you have set out to achieve. Take the chance, endure a little pain and stand out!

2. UNDERSTAND YOUR MARKET AND COMPETITION

How do you compete or stand out if you have no idea about your industry and competition? Who do you compete with? To what do you measure your outputs? To stand out, you need to have a deep understanding of your competition, what works for them and how they do it.

In order to compete, as noted above, take a little pain to research if you really want to succeed. You can develop wining competitive strategies based on what already exist. Analyze your competitors successes, failures, and strategies. It will be adventurous to be one of their customers to learn more about what you can do differently or even take the chance engage their customers.

3. BE HUMAN

Be human as much as possible. Be visible to customers and be reachable. There are many startup businesses today with only names and logos but are not within human reach. Emphatically, consumers love to deal with faces behind the businesses more so than have relationships with the business. Make your startup human relatable as much as possible. Build human relationships with consumers. Establish a ‘face’ behind your business and engage one on one with customers.

4. DIFFERENTIATE PRODUCTS / SERVICES

The name and logo of your business will give you an identity. But your products or services is what makes you the business. It is what creates the relationship between the customer and the business. This is what you build your story around.

Consumers should be able to differentiate your service and products from your competitors. It should speak volumes to their needs. It must give them a unique value – it has to be uniquely useful to the consumer.

Many times, the packaging of startups services and products are quite ordinary. Define your deliverables, determine fixed prices, give the product and services powerful names that stays on the lips of your customers..

Differentiate your service offerings beyond your ordinary best.

5. SOLVE A PROBLEM / NEED

A business which serves no need but make money is no business. A business should have a purpose. The purpose which informed its establishment, needs to be put into visions, missions and goals. A business must first be set up to solve a problem or a need.

Here again, the need for a research is crucial to determine which problem you can identify and provide unique solutions too.

Most startup businesses today, set up because it is an escape from unemployment and a source of quick wealth. It is a hearty responsibility of every entrepreneur to find a problem and provide a solution to it. If you are an entrepreneur because you only perceived it as a way to become rich and famous, you should get yourself another job – you’re certainly in the wrong career.
6. CUSTOMER SERVICES

One important thing to note about customers is that, they are your business. As a startup, don’t be proud to admit that. Do not challenge your customers when they express their opinions. Without the customer, you have no business. Hence treating them as your most important stakeholders instead of a profit bag, would go a long way to make your startup stand out.

Go out of your way to create ideas to treat your customers, as much as you would want to be treated as a customer.

Create gifts for favorite customers, give them special offers and always deliver more than you promise. You will not only retain your customers but gain more through the well treated ones.

7. COMMUNICATE THE DIFFERENCE

Don’t just tell the story about what you can offer and how best you can offer it. When creating your communication and PR strategies, remember what makes you different – what makes you stand out; and that is the story you should tell.

Shout about it. Convey the difference between you and your competitors. Channel them through your marketing, advertising and all your promotions. Let the customer note how different you are from the mass. Prove it to them, express it and offer it as well.

No one will tell that story better than you. The outcome will be rewarding in a market where many businesses are offering the same products and services. Hence stay committed and true to your story.

Advertisements

Author: STARTUPRENEURS

Startupreneurs is a small business and startup blog by Harmony Attise. Harmony is an award winning business entrepreneur, a small business coach, a Columnist, a writer and a youth development enthusiast. She is the founder and Ceo of Commec Ghana Ltd, a Business development and marketing company (Our Core services foces on developing and sustaining startup and small business growth). She is also a finalist awardee of Africa's Most Influential Women In Business & Government 2016 Awards from the CEO Global, South Africa. Harmony is a YALI alumni and a member of the Crans De Montana Leaders of tomorrow, a Swiss based organization for young leaders. Harmony is a Business columnist with the leading business newspaper - Business & Financial Times (BFTGhana) for startups and SMEs - the "Startup Right With Harmony" Column

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s