This isn’t a question about character or personhood. This is a question about your ability to do a job, carry out a task, or perform a service. When I talk with many business owners I often wonder why a person would choose them over the next business owner. For some companies, price gives them a better market share. For others, specialization gives them market share. What gives you market share?
I’ve talked about this in a few different ways before, but I wanted to readdress it collectively for you to think about the different things to take into consideration.
1) Are you a market expert in your field? Today’s world revolves around information and content creation. I know this because I have two podcasts and websites that I maintain with information being shared. Sometimes it can be straight information or sometimes it can be informative commentary. Sometimes we want to know how to apply for a business license step by step. Some may want to hear a review on a product or movie. Both of these have information but presented differently and might require different styles of delivery. So to ask in a different way. Why would anyone come to you for a specific kind of information?
2) If you are starting a business, what gives you an advantage over the next person? Do you have special access to equipment, resources (natural or others), intelligent people? What will help you have lower cost, better product, or more efficient service. This is more commonly called barriers to entry. Are there any barriers to your market that is harder for others to enter into. The lower the barriers, the more competition you will have. For example, with Soundcloud/Youtube, cheap recording equipment and daw programs, we have many more people releasing music to the public. It makes it harder for anyone to get discovered through all the noise. What makes you stand out from the competition in a saturated market? What are you able to do that is harder for others to replicate?
3) How great is your customer service? When you think of a company like Chick-Fil-A, many know them for their customer service as well as their great quality food. There are viral videos online sharing their real experiences as well as made up video about their customer service. Both help promote the company and make that part of the company well respected. I personally left a wireless phone carrier because their customer service was horrible and I always needed help.
These are major areas that need to be addressed and researched to really figure out what makes you special. So the big question is…what makes you special?