Incredible Small Business Read
Well, I have been absent from writing for a while, but I have a fantastic read for all you small business owners out there—actually, its a great read for marketers in general as well as owners of any size business.
The book is a classic that I only just discovered. It is called “The 22 Immutable Laws of Marketing” by Al Ries and Jack Trout. The time-tested book is so incredibly easy to read. It outlines 22 core principles of positioning and marketing that every business person should know. Once you read the no-nonsense insight in this book, you will be amazed that you didn’t acquire these principles by shear logic before. The book also gives a ton of real-life examples that help demonstrate exactly what they are trying to teach.
A few of my favorite principles are as follows:
Law #1 – It is better to be first than it is to be better.
This pill can be hard to swallow. When I think about it, I know my business is far from the first design firm in the land, and I believe that I provide my clients with a product and customer service that is far superior to that which other firms like mine may offer. With that said, I had a hard time with this law. Shouldn’t the “best man win?” Well, just think about the major brand players that are out there…. Coca-Cola, Apple Computers, etc. They will always stand out in your head because they were the first in their product line. Now you are probably thinking that your business is doomed, because you were not the first to offer your product or service. Never fear, Law #2 will save you!
Law #2 – If you can’t be first in a category, create your own category.
So many of the principles in this book are about adjusting your perception of your business. In order to distinguish your business from your competitors, you need to re-examine the positioning of your product or service and search for a way to classify it as first in its own category. See the book for examples (ha, I’m determined to get you to read this book…)
Law #13 - You have to give up something to get something.
This is another tough lesson, but the book is convincing. A niche market is something to be treasured. Less is more. Find your niche and stick with it. You can’t offer the superior product or service in your category if your attention is hopelessly divided. Its easy to see a quick money-making opportunity and jump, but if you look at the numbers in the long run, your old product often suffers as your new product profits, which doesn’t amount to any real growth. Plus, once the novelty of your new product wears off, you will only be left with a weakened version of your flagship product. So, if you absolutely must expand into a new market… at least brand that product to stand alone so that your initial product isn’t weakened by consumer confusion (that also gets covered in its own Law).
Alright, I need to be done now. Enough of the Cliff’s Notes. I can’t regurgitate the entire book for you. Just trust me. And read it. You won’t regret it.
