It’s shocking that statistics show that most businesses fail before their 5th anniversary! With all the information out there on Google, YouTube and from various sources, it has always puzzled me why this continues to happen.
It’s not because the service (program or product) isn’t good enough or because the person running the business isn’t smart enough. I know that you are smart and that your program/product/service gets great results!
Most service-based businesses and personal brands fail because they become a commodity amongst the competition. They don’t seem to be any different from the others providing similar services so their business ends up being based on providing the lowest price. The brand and the business are perceived as just another product/service in the marketplace.
So how can a business owner like you, build a brand and a business that stands out above the noise? How can you separate yourself from the competition?
It’s not just a random roll of the dice. There are straightforward tactical strategies you can use to stand out and become a leader in your field.
I recently listened to a presentation that made me jump up and down with joy!!! A presentation that I said YES, YES – why don’t more business owners understand this. I was listening to Rory Vaden (serial 8-figure entrepreneur and co-founder of Brand Builders Group) outline his step-by-step process for building a remarkable personal brand that sets itself apart from the competition. Here are some tips he offered.
1. Breakthrough the wall and become unique
In any industry, there are 2 groups – the unknown and the well-established leaders. Vaden describes that there is a wall (Sheahan’s Wall) that separates the two. Most fledgling brands and businesses try to break through the wall by throwing everything at it. (I call this the marketing hustle.) They try a YouTube channel, another social media channel, write a book, stand on stages, etc. and what happens is that these businesses BOUNCE off the wall instead of breaking through the wall. Vaden says “diluted focus yields diluted results!”
Instead, in order to break through the wall and become the sought-after expert in your field, businesses need FOCUS. Just like the sun’s rays that are filtered through a magnifying glass to create fire – focus is the key. So what’s your magnifying glass?
What small area can you specialize in?
What can you become an expert in?
What specific problem can you solve for others?
Once you specialize or find your micro-niche, you will break through the wall and the surrounding noise will dissipate.
Once you specialize, you will become the sought-after expert in a small field. Instead of chasing clients, clients will come to you expecting to pay high-ticket fees. Your sales, and better yet, your profits, will skyrocket.
My clients know this to be true. Almost the first thing we work on together is to discover their area of specialization – their micro-niche. There is magic in specialization!!!
And guess what? There is almost always resistance to specialize. There is almost always fear and our inner critic telling us why we can’t possibly specialize. And that’s why it’s so difficult to do alone!
(Want to hear how one client specialized? Listen to GROW Equation business podcast, Episode 11 with Milena Cardinal here.)
2. Prioritize your reputation
Rory Vaden’s second tip is to prioritize your reputation. Your reputation is what people say about you when you aren’t in the room! It’s what comes to mind when people think of you.
At the core of your reputation is trust! How can you build trust? You can build trust by sharing parts of your life and your business and teaching people what you have learned on social media or through a podcast. If you show up regularly, over time, your audience will learn to trust you and your brand; and you will stand out from your competition. WHY? Because most business owners won’t do the hard work; the consistent work!
3. Strategize your content
Most business owners tell me that they feel overwhelmed by the thought of consistently creating meaningful content. The truth is once you’ve established your area of specializing, strategizing content becomes so much easier.
Once you commit to creating useful content for your audience, they will continue to trust you. Valuable content sets you apart from your competition.
4. Monetize your brand/business
Now that you’ve specialized, grown your following with trust and created a content marketing strategy, perhaps you wondering how you make a living from a personal brand.
Again, begin with FOCUS. Too often, I see business owners monetizing by creating way too many offers for different products or services. The best way to monetize is to build your reputation on ONE offer and its obvious upsells and down sells.
What do I mean? My brand is focused on offering 1:1 private coaching. That’s my main offer. But my down sell is a VIP Strategy Day with me. An upsell might be a warm-weather retreat (I am going to do this soon!)
Remember, the key is not to dilute your focus. You need to strategically decide where to focus your time, money and energy so that you aren’t overwhelmed.
So where to begin? How will you begin the process of standing out from your competition?
It all begins with the magic of micro-niching and specialization!
I’ve got two resources to help you with this:
April 29 GROW & Market Your Biz: The Unsexy & Counterintuitive Way
Grand Connections here ….. use discount code FREEDIANA to save the registration fee. Register here — https://grandconnection.ca/apr-29-master-class-on-marketing-strategy-with-diana-lidstone/
May 12 CounterIntuitive Marketing Workshop with Diana
Learn how to:
- Magnetize BETTER clients & earn more
- Use my Magical Micro-Niche Framework to identify your own micro-niche so that you’ll be able to create marketing messaging that speaks directly to your eager-to-buy prospect
- Myth-busting – you don’t need to waste time on building your avatar
- Difference – between your niche and an avatar
- Create messaging and content that is directed at solving the ONE problem you are a genius at solving for those high-paying clients who are already out there!
Registration is limited to 8 spots – 7 left.
This 2-hour workshop is a small investment (only $297) Register here — https://dianalidstone.com/shop/counterintuitive/
SPECIALIZATION = High Ticket Sales = More Profit & More Free time
You can do this!!
*BTW – if you’re a coach or a consultant, the majority of you are building a personal brand! Your personal brand is based on YOU – your expertise, and your personality!
P.S. Whenever you’re ready… here are 2 ways I can help you GROW
- Subscribe to the GROW Equation Business Podcast – Click here
- Become My Next Success! If you want to work less, earn more, I’m working with a select few service-based business owners to help them create and implement a game plan so they can have more joy, more profits and more time away from their business. Schedule your call here.