MBA1066 How to Create Something Different Enough
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Find your niche. That’s the motto of every smart entrepreneur, as we look to carve out our unique place in the market. Building a successful business involves a careful balancing act. On one hand, you have to be original; your product or service has to offer something that nothing else out there offers. But while you don’t want to reinvent the wheel, you also don’t want to alienate people with something they’re not ready for. A product that’s too different, too far out in left field, isn’t likely to be embraced no matter how “good” it is on its merits. Today, we discuss how to make your business different enough to attract a loyal following, but not so strange that it goes over people’s heads. We look at specific examples of companies that add just enough of a twist to secure their slice of the market, without being too derivative or too radical. It’s the Goldilocks Rule: not too different, not too similar, but just right. Figure out where your business can go, with the right amount of (restrained)…