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Boost Your Chance of Success 370% with One Powerful Principle

Boost Your Chance of Success 370% with One Powerful Principle

November 25, 2008

The economy continues to slide deeper into a recession. Some of the country's largest companies including AIG, Fannie Mae and Freddie Mac and Citigroup have already received a government bailout and now the Big Three automakers are putting in bids for their bailout.

When things look bleak, the natural reaction is to also pull back on your marketing.

This is no time withdraw. Most of your competitors are probably doing just that. So while they're retreating, you need to attack. Circle this section. Highlight it. I'll even bold it for you. Do whatever will help you remember this point 

Create a brand for your business that makes you so dramatically different from the competition and stands out and shouts, 'I'm not like all the rest!'

That brand has to be so powerful, it has to be what I call a Big Zig. This is the one thing that makes your business unique.

While others are zagging and doing the same old thing, you want to zig. Your Big Zig is what sets your business apart in the minds of your hungry fish. Why is this important?

Triple your chance of success with a Big Zig Companies with a Big Zig have a 370% higher chance of being successful, according to Harvard Business Review.

While you may not be able to compete on price, quality or service, there are ohter areas where you can create a Big Zig, such as making your product easier to use than the others. The point is that you want to pick one thing in which you can be dramatically different. While others zag, you can offer a Big Zig.

Remember, we're in the age of advertising resistance, so you must make your offer radically different from everything else that's in your industry. For some companies, this could mean gaining more visibility for your product by being more flashy and unique. For other companies it could be restructuring your offer to look remarkable in the crowd. Otherwise, you'll fall into the 'me too' world and get lost into oblivion.

Need more proof? Companies with a low zig only have a 14% probability of succeeding. But those with a Big Zig have a 53% chance of succeeding. That means the bigger the zig - the more dramatically different your message is - you'll increase your chance of succes. And what does 'dramatically different' mean as opposed to 'sort of different'?

It should be a major shift from what's currently being offered and what's expected. Incremental improvements never produce the dramatic bottom line growth, profits and potentials that Big Zigs can generate.

 

So how do you create a Big Zig? Hint: It all begins with you. What I mean by that is that your business should be built around your core competency - those things that you do better than anyone else (see Secret of the Watermelon, October 2008). The key is to leverage your core competency to create your Big Zig. For example, while everyone else is competing on price, quality and service, what can you offer that's different from everybody else in your market? More importantly, what can you offer that will stick with your hungry fish?

Here are just 3 few examples of Big Zigs:

1. Paul Johnston, a builder with a passion for sheds promotes his sheds as life-altering his book of testimonials, 83 Ways a Shed Has Changed People's Lives. (See October issue of Your Business GPS)

2. Every year, Odor Eater holds its 'National Odor-Eater Rotten Sneaker Contest'. You guessed it; whoever has the smelliest shoes gets their shoes enshrined in the Odor-Eater's Hall of Fumes; a great honor to be sure. I love it!

3. In a spectacular setting on the Indian Ocean, Hilton Resorts created the world's first underwater restaurant at Conrad Maldives Rangali Island. As diners enjoy their meal, the restaurant is submerged below the waves. The plexiglass surrounding the restaurant gives diners a 180-degree panoramic view of the aquatic life teaming in the coral reef.