What’s Your Company’s Position?
“Banana Republic has the hottest dresses and I would never think twice about shopping at JC Penny for a dress.” “I only trust Tech Crunch for the latest Web 2.0 news because they have the most accurate stories.” “I hate shopping at Home Depot because their customer service is horrible.”
All of those statements written above are examples of thoughts of what people may be thinking about particular companies. That’s exactly what “positioning” is all about.
In the army soldiers are positioned in strategic points across the battlefield in order to me most effective against the enemy. In business, companies are carefully positioned in the minds of the market to bring about favorable feelings and emotions about a particular service or product.
As a young entrepreneur one of the most important tasks that you’ll have to excel at is properly positioning your company in the minds of your customers. It’s not an easy task, but it’s a must and there’s little room for error.
Gates secured his position with Microsoft. Branson with Virgin. Buffet with Berkshire Hathaway. Walton with Walmart and Sam’s Club. And the list goes on… All of these entrepreneurs were able to successfully bring about positive thoughts and great trust for their companies in the minds of their customers.
When customers are so happy and enthusiastic about your service, they seldom think about ever using an alternative. They become loyal users of your product and speak highly about it every chance that they get.
Having a strong position with your company creates a fertile ground for evangelist — people who become so entrenched with your spectacular service that it truly becomes a part of their lives; it becomes more than just a great service in their minds. As corny as it sounds, your service becomes their “friend.”
You must be cognizant about the position of your service at all times. As yourself this: “What is the current position of my company? Why is my position this way? How can I improve my position?”
These questions will help you understand what’s going on in the minds of your customers and how they perceive your service. But please, if you don’t know what your position is then you are flying blind and need to figure it out as soon as possible. The worst thing possible is not having a position at all.
Grab a piece of paper and start answering those questions. Take some time to really brainstorm and also begin to think about the position of your competitors. If you understand your position and the position of your competitors as well, then you are one deadly entrepreneur who can truly make big things happen with the proper strategy and determination.
Leave a Comment