13/01/2023
"How do you gain an unfair advantage over your competition?"👉👉
It was the late 90's. Gary Halbert stood in a podium facing 187 marketing students in a university auditorium in pennsylvania.
"Yes?... what's the one thing you'd have that'll completely squash your competition and get them on their kneels…begging for your secret"?
" The best quality ", someone yelled.
" The best price ", yelled another student.
"The best quality combined with the best price " said another with half the class cracking their ribs in laughter.
I'd be lying if I said I didn't expect these replies — said Gary
You call them Unfair advantages. Bu****it. That's what I call them. BULL S**T.
Stand up son – Gary points to a boy in the first row.
What's your name?
"I'm Clinton"
Okay Clinton. Have your seat.
Now class. If you give Clinton all the bu*****ts you just mentioned. All of them. And I only get to keep my one. In no less than 5 months I'll have Clinton lock down his business with a rocky padlock then send him three towns away never to return. All I need to send Clinton parking is this...
A starving market. That's also all you need.
Now reason with me. No…We're no longer in the auditorium. It's me… Owen speaking. Not Gary to his students
Imagine this:
But we have different regions allocated to us by the body in charge.
Immediately the kids hear the ice cream sound from the truck… they all start racing towards me. Pulling their lunch money. With the others dragging their parents.
Same goes for the next street I enter.
But you.
Your region is surrounded by churches. Old people's homes and hospitals. How then do you compete with the bu*****ts the students mentioned? Okay look at this scenario.
You sell nike sneakers on your WhatsApp. You post your products yesterday, today tomorrow. Everyday. But your status viewers are your neighbors and colleagues. Yes. They bought once to show support. But do you expect them to really be your customers? Be honest here. You don't, do you?
Now in my case…
I have collectors. A bunch of guys are are Nike freaks. They collect any thing Nike just for the sake of it.
✅Nike sneakers
✅Nike slippers
✅Nike hoodies…
Name it. They want all.
Then I get a bunch of other guys like that for adidas. Then for puma. Then a lot of guys who don't collect but are also in the market for sneakers. Tell me why I won't crumble you with my bare hands?
You're not even a competition. You're just a guy posting products he likes on his status…asking his viewers to repost.
How do you find a starving crowd for any market?
All you need is ask questions. Questions like
Who uses my product more? Male or female. Male? Okay
Male of about what age? 23 to 35? Good.
☑️Where do they congregate?
☑️Who do they follow on facebook? Oh. They follow BBNaija. So I can run ads to target followers of BBNaija. Good. They're easy to target.
☑️Do they have a pain or desire? This should be the first thing you look out for. If I sell Nike air force. And the market aren't interested in my product. Or they just don't desire it. Then I should look for another market (or people).
Okay. The market desires my product. But can they afford it?
Always look for a market that has money.
You'll struggle if you pick a product with a terrible market. End.
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