Make Your Product Stand Above The Competition

It’s the first law of entrepreneurial success: To stand out in a crowd, differentiate your product or service. Following the herd will produce lagging results.

But setting yourself apart — and filling an untapped niche — is easier said than done.

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You can pursue a differentiation strategy that falls flat with your target audience. What strikes you as an aura of distinction may cause consumers to shrug.

“You have to make your brain look for what the customer wants,” said Melissa Swift, founder and chief executive of Anthrome Insight, a New York City-based advisory firm. “That’s tough because we’re wired to focus on what we’re excited about.”

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Go Beyond Theory To Differentiate Your Product

Some differentiators sound great in theory. You can build a strong case that your organization will be the first mover to capture an underserved market segment.

Yet the first mover advantage can fizzle if you squander time and money on a rollout that proves a dud.

Your passion serves as a blessing and a curse. It can drive you to prove naysayers wrong. But it works against you if you’re so enamored with what sets you apart that you’re blinded by the realities of the marketplace — and whether buyers will share your passion.

When innovating, the key is to propel growth rather than simply be different. How can you tell if your differentiators will resonate with your target audience?

Embrace What’s Boring But New

Some lucrative innovations seem dull at first. Don’t flinch if your stab at differentiation isn’t flashy or doesn’t trigger grandiose visions of changing the world.

“What might be boring to you is important to the customer,” said Swift, author of the forthcoming book, “Effective.” “You might think a soup handle is gorgeous but the customer might want a slightly wider or slotted spoon” that’s plain but functional.

Detach Yourself To Differentiate Your Product

To avoid getting too close to your innovation, separate yourself from it. Imagine that you’re an outside expert hired to differentiate your prototype.

“Be your own consultant,” Swift said. “Teach yourself to think like a consultant who looks at your market and runs tests” to determine what differentiators matter most.

Act like a consultant and write three slides: an analysis of the existing market for your product or service, a list of what’s missing among the current market offerings and how you intend to plug those gaps by producing something different and valuable.

Pose The Right Question

As you search for differentiators, ask questions that guide you in the right direction.

To gather market intelligence, ask potential customers focused questions such as, “What would make your life easier?” and “If you could recreate this (product or service) on your own, how would you do it?”

“When asking for suggestions, start with what you believe your mission or purpose is,” said Sonya Shelton, founder and chief executive of Los Angeles-based Executive Leadership Consulting. “Then test it by asking, ‘What would you change or add?’”

Stay Engaged To Differentiate Your Product

In grappling with how to differentiate what you do, balance your eagerness to deliver on your idea with the demands of your market. Expect to compromise along the way.

“It’s a trap to fall in love with your idea,” said Shelton, author of “You’re An Executive, But Are You A Leader?” “But it’s also a trap to be too swayed by the customer. You have to keep asking yourself, ‘Do I still care about this?’”

Keep At It

Even if you find a great differentiator, it may not last. Markets change and competitors can catch up and surpass you.

“Even if you differentiate well at first, you have to be constantly innovating,” said Paul Perreault, author of “The Detour CEO.”

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