12 ways of creating differentiated businesses

Apply them for existing or new business endeavours

Today’s inspiration comes from Gretta van Riel, highlights mine:

"Every business idea is taken"
(…) you don't need to reinvent the wheel. You simply need to create something different + better than what already exists.

Here are 12 ways I use to differentiate a proven idea:

1. Do it with a better design
→ Elevate it, personalise it, differentiate it

2. Do it to solve a pain point
→ Read the negative reviews and fix them with functionality

3. Do it with purpose
→ A social mission, sustainability, storytelling

4. Do it for a limited amount of time
→ Scarcity + exclusivity = demand + perceived value

5. Do it for a smaller audience
→ If you’re for everyone you’re for no-one, niche down

6. Do it with an influencer co-founder
→ Unlock an automatic audience for your brand

7. Do it more conveniently
→ On subscription, same day delivery, top ups, refills

8. Do it in a new country
→ Huge in [the US] but no presence in [Australia]?

9. Do it on a new channel
→ Look where they aren’t e.g. podcast advertising, influencer marketing, TikTok vs Instagram, Twitch etc

10. Do it with a community
→ Audience first, product second. Glossier started out as a blog. Think run club turns activewear brand.

11. Do it simpler
→ Simplicity is complexity resolved - remove the unnecessary, streamline, make it intuitive.

12. Do it for less, do it for more, do it in the gap
→ Pricing psychology is real - can you do it cheaper, can it be more premium or is there a gap in between?

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I love the simplicity and depth of Gretta’s post.
As solopreneurs, we can draw inspiration from lots of existing businesses (with proven business models) and tweak our own business to differentiate in the market(s) we are serving.

The reason i’m sharing with you the post is because it actually inspired me to take some time to apply some of the 12 ideas to my own current business.

Because the list has some value proposition elements that we’ll be using during the Value Prop Crossfit session next week, i’ll share with you then which ones i’m applying to my main business of strategy advisory.

As i was mentioning during the Business Strategy Cardio session, i’m not focusing on launching new business lines these days. I’ll keep Gretta’s list close by for the moment when this changes 🙌

In the next edition of Solopreneur Gym, i’ll share some goodies around designing value propositions.

Depiction of upcoming Value Prop gift box 😅

Stay tuned,
Bülent

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This is the Solopreneur Gym ⚡️
It’s a gym in the sense that you’re invited to practice and do the reps for the health of your own business. Get inspiration, DIY workouts and access to live practice sessions 👟

Hosted by Bülent Duagi, strategy adviser for CEOs in Tech.