Create a ‘Category of One’ Business & Become Unrivalled

Please note this transcript is machine generated so it is not perfect and should be used for reference only, you will get the best from the podcast by listening to it in it's designed format.

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In this episode I'm going to be showing you exactly how to get true unrivalled status

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Welcome to the second episode in the build a market leading business series. This is a special featured series. I know we talk a lot about market leadership on this podcast, but I really wanted to give you guys a set of podcast episodes that's really going to show you exactly how you can become the market leader and dominate your market. I'm Jen hall, your business positioning coach and market leadership expert and today is all about becoming a category of one business, which means that you become completely unrivalled, completely incomparable to anyone else and that you are also not only both of those things but you are also the chosen one, the one that's picked as first choice in your market to work with and that's what we're going to be talking about on this episode. Now before I kick off, I just want to let you guys know that I actually have two spots open in my 12 month elevate program for two business owners who want to create a category of one business and dominate their market.

(01:26):
So if you're interested in applying for one of those two spots, then please do get clicking on the link in the show notes to book a call with me to discuss these causes. Zero pressure and designed for you to be able to ask all the questions that you need to to make a great decision for you and your business. But now is the time to become a category of one business. You know, before this whole pandemic thing hit, you know, people were savvy enough as it was, you know, but unfortunately people got burnt because the people were spending money with people and things not really knowing the consequences gambled. And unfortunately a lot of the time lost and they got burnt because they invested in the wrong things or the wrong people. And so they were savvy beforehand and now all of this has happened.

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People are going to come out of this after a time of reflection and really getting to grips with what they want. People are coming out of this way more mindful than they have ever been. And do you know what? That's fantastic news. It's great. I'm so pleased that we are going to become better buyers, that we are going to be more thoughtful about our choices because you know what? I am tired of speaking to people who have, you know, come to me for help but yet have spent thousands and thousands of pounds into the wrong things because they've either been advised to do so wrongly or the other person just hasn't delivered. And I'm really pleased that this is going to really turn a tide of people being far more thoughtful doing their due diligence. Now I also speak to people who have done due diligence and yes, still been treated like crap, however unfortunately is just one of those things.

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But at the end of the day it's, it's a good thing that this time of reflection has happened and that people are going to be a lot more thoughtful about what they spend their money on. Now, it's really important to note here that their economy is still there, money is still there, the flow of it has just slowed down. I think I might have mentioned this on the last episode or the episode before, but I want to keep reminding people the money is still in the economy. It's just the flow that has slowed down. So it's important to recognize that and to think about, you know, if my market is now more savvy, if they are going to be more thoughtful than they are going to want to spend their money with the best of the best. And is that you? And if you know that you are the best of the best at what you do, unfortunately if you're not seeing the rewards of that in your bank account and if you are not seeing the significance and positioning in your market to reflect that, then unfortunately your market doesn't believe you and they will continue to not believe you unless something changes.

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That's what this episode is all about. And this is what my program elevate is all about. It's all about becoming that category of one business. And if we're not aiming for that, if we're not taking action on becoming that incomparable, unrivalled number one choice in the market, then unfortunately you're always going to be second best and you will always going to be behind the curve behind the line. And unless you are getting clients easily, unless you are able to mop up a large proportion of the market, you're always going to have a very lack luster experience of actually getting clients. And you know, having a business that grows and is worth more than it is now. So if you are interested in applying for elevate, please make sure that you book your call to discuss everything that you'd like to discuss.

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There is a sales page for it. It's Jen-hall.com/elevate that you can go to and have a look. But I am more than happy to discuss through it's zero pressure at the end of the day. I don't want people in there who don't want to be there. So it's really important for me to make sure that we're, you know, you are a good fit for the program and that it's something that you actually want to do and that you're excited because if you're not excited about being in there, then it probably isn't the right investment for you. So if you'd like to book that call, please make sure you do that using the show notes. The link is bit.ly/claritycallpodcast and we can jump on a call and have that chat to see whether you are a good fit.

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So, I am going to dive in to the content of this episode. Show you the three things that you should be focusing on to become a category of one business. So becoming a category of one business actually makes your competition entirely obsolete. Because if you're incomparable, people cannot then sort of say, okay, well I will go between this person, this person, because there is no comparison between you. There is an obvious differentiation and a reason behind why someone would always choose you. Now, people always get a bit funny about this because the word competition can bring up a lot of issues should we say. It can make us feel like we're stepping on other people's toes. It can make us feel a bit icky because it's like, well, hang on a minute. You know, you're, you're, you're taking away from the pot.

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But at the end of the day, part of the process of becoming a category of one business is actually finding your corner of the market. But it's not about dominating everybody. It's about finding that corner and then dominating that corner, finding your people. And when you find your people and when you find the thing that matches with them and you find that alignment and that compelling reason as to why those specific people would buy from you, that's where this kind of match happens, where you become automatically magnetic to these people. And that is how you end up dominating a market. So, some of the benefits of becoming a category of one business is first of all, if you're incomparable, you're absolutely able to charge more. Because you know when you get an Apple and an Apple together and you look at the price comparison, then you're going to be comparing it against another Apple.

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But when you have something entirely different, so let's use the example of say an Apple innocent fruit smoothie that's now become incomparable to the Apple and therefore you're willing to pay more for it because it's been processed in a certain way. Perhaps there's been vitamins added and other such lovely things to it that you actually makes it worth more in your eyes than just the Apple itself. So you can absolutely charge far more when you are not in that Apple for our Apple arena, when you really pull yourself apart, you are able to really charge not necessarily whatever you like because at the end of the day, everything has a value and that we have to be very aware of that value. But at the end of the day, if you have something that is better than your average, then you're absolutely able to do say. The next thing is, is that you become an obvious choice.

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Like I mentioned earlier on, that you know people will come across you and there will be no point looking anywhere else for the right people. You will become that number one choice because it's like, well, you're actually offering me everything that I need on my plate. Why would I want to go anywhere else? Because no one else is offering what you're offering. You are a new solution for them and therefore you will be the number one choice. You're also able to find that root through the noise to dominate your market. When you look at apps, exactly how you're going to really kind of funnel down and dominate that corner, you're going to find a clear route through from everything else that's going on out there. All the sheep-preneurs that are out there saying the same things. By becoming a category of one, you're really able to find chin a message that cuts right through that noise and really hanes in on the right people.

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You're also positioned as a true expert throughout that honing period. When you're looking at really cutting through that noise, you will be positioned as a true expert unlike anyone else out there. And people kind of will share what you have to offer because it's clear, it's easily shared and different enough that people want to share what they found. So I'm going to talk you through the three clear things that you need to be focusing on to become a category of one, which really shows those benefits that I've just talked about often and how that really makes sense to actually achieving those benefits. So how do you actually go about creating a category of one business and becoming unrivalled? Well, the first thing as I've sort of touched upon is niching down, finding the subcategory of your market so you can micro-niche. So the key here is really getting specific on what it is that you do and positioning it and angling it in such a way that it's fresh and new and it's not like whatever else is out there.

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Like I said before about the sheep-preneurs, everyone else is out there saying very similar things in your industry because they see what apparently is working and they want to copy and so therefore it just dumbs down the message that you're trying to put out there and you just become this blended inversion with everybody else. It's very important to really fine tune it and really disrupt the markets by coming up with something new, fresh and innovative that is very specific. And the more specific you can get, the more innovative you can be and the clearer you can be and the more it's going to really hit the Mark for the particular type of person that you're after within that wider market. So get really clear on that sub category. What is your subcategory? You know, I'm a business coach and I've been a business coach for a long time now, but I can't just be a business coach and I'm talking about very extreme example here.

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But something that I've really nailed down to is becoming the business coach to get to for becoming a market leader. That there isn't that many people. In fact, there's hardly anyone around using that terminology at the minute. I guess for a couple of reasons. First of all, because not many people run a market leading business like I do. I guess it's not unusual, but the perspective is there's, there's not that many out people that have that accolade. But also that's, you know, it's my own message that I've decided to take on board and go, okay, that's who my people want to become. They want to become a market leader. That's a subcategory that I have picked because at the end of the day, there are lots of businesses out there. Do they want to become market leaders?

(12:45):
Do they all want to grow their business? It becomes seriously significant in the marketplace. No, no. Everybody does. And so my message is for only a certain type of person who wants to build an empire business, who wants to continue to grow and who wants to be bigger than they are at this present time. So that speaking to a very specific type of person within the wider market that I could potentially serve. So what are you going to do in order to meet your message and your, the way you describe what you do for people really hit that subcategory. So get specific in your messaging. Get specific in your terminology. Any way you can do that is by looking at who are your people, who are the people that you are best placed to serve and not even just best placed to serve,

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Who are you excited about serving? You know, what's, what's the subcategory that really sets your heart and fire that you're like, no, these are my people. That's one of the best ways that you're going to find that subcategory as well as looking at your expertise, your background, your experience, all of those things can really help to dig out who it is that your best place to serve. The second thing that I really love you to think about is your concrete USP. So once you found that kind of corner of the market that is especially for you though, you can describe them so that it's a new and fresh message, that it's reaching the right people. We then need to think about, okay, so why would these people choose you? They might know that you offer them, but what are you offering them that's going to make them want to choose you over other people that are perhaps on the list.

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You can create that category of one messaging. But we really wants to sort of add weight to your side in order to position you as that number one choice that irrefutable option that makes them go no, no, your the one for me that there's no point even looking anywhere else anymore. In order to do that we need to look at your concrete USP now to find your concrete USP, you need to have a look at that person and think what is the most kind of critical problem right now. And I've kind of talked about the problem a lot over the last sort of few episodes, so I don't really want to beat that drum too much in this episode because you can go back and look at that and if that's, I think in our last episode we talked a lot about the problem, but it's about looking at the problem and just to remind you or you or build a bridge or you shoot the shark and finding out which of those problems that they're suffering from and get really specific on it and then creating something entirely, an entirely unique solution for them.

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I'm going to demonstrate this point with a few examples of some of the market leading companies are out there. So let's start with Uber for instance. They had that Uber app that was fresh out the gate. It was something really new. The convenience of being able to just order a cab without having to stand in a noisy nightclub and try and shout down the phone to the taxi company that you'd like to be picked up. Finding someone that's secure, that's licensed, that's safe solved a lot of problems by creating that new solution. I call these things the unique magic bullet. And that was Uber's unique magic bullet that was that Uber app. It solved so many issues for the client base that they are able to dominate the market and not even they went from dominating a corner to really expanding across the board, which is just incredible.

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And that's how it will start for you. You find your corner, you find your people, and then the rest of the market starts to cotton on, they start to step up and they start to listen up to what you're offering. That's how the snowball effect happens. You start reaching the wider market. Once you've dominated that corner, it really starts to prick the ears up of, of, of what the people as well. Now the next company, I'll use an example is Netflix. Their unique magic, but it is the Netflix original films or series. Now, these are amazes isn't a great example because I absolutely adore the Netflix originals. They really have, you know, put so much budget into creating these films and series and they are phenomenal. They really are. And you can't get them anywhere else.

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And that's what's key about your concrete USP or unique magic bullet is that it becomes your own. No one else can own it apart from you. And that's why people will go to you. That's why you become the irrefutable choice because you create something that they really want and the only place they're going to get it is from you. And so that's what we want to do on a create demand for something so that they have to buy from you because they cannot get that anywhere else. Another company, Amazon, their unique magic bullet, prime delivery, being a member of prime, not even just prime,delivery, prime in itself, you know, it's more well known for that delivery because obviously it offers things like you've got prime video and things like that. But do you know what the kind of film side of things hasn't taken off as much as the delivery side.

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And I think to be fair, that's a key lesson here to kind of stick to what you're known for. They're known for, you know, efficient delivery next day delivery, which is great, all under one roof. So that's why they've become known for. Things kind of like the cherry on the cake that the reason why you want to buy prime is because you want that convenience. And that was a problem for the Mark. You know, our market, which was great for online delivery, but we wanted online delivery like now, you know, we didn't want to be waiting ages for it, which is why we ended up going out into the high street and part of the death of the high streets to deal with Amazon because they've solved that problem. If we don't even have to leave our homes. And yet we can have something relatively quickly, not as instantly is going into a shop and picking it off the shelf, but near as damn it.

(19:22):
Yhey've done incredible job with that. I use Amazon all of the time, you know, in particularly at a time like now it's, inadvertently solved an even bigger problem for people not being able to shop for clothes. They can't literally can't go out. And whilst the delivery times are much longer at the moment, they're still supplying and they're still delivering even at a time like this, which is just amazing and it's still providing business. People who maybe weren't even Amazon members before that group of people are now kind of almost forced to buy from them again, widening the market because there's a problem that they're solving. Someone else, Apple, another big one. Their unique magic bullet, the Mac operating system that makes their computers work very, very fast. That's another example of something that you can't really get anywhere else.

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They've named it, they've made it and it's a very specific piece of technology to them. That's an unique magic bullet to Apple. The fact that they've got this Mac iOS system. Now, again, there are many other reasons as to why people buy from Apple as well. You know, their design, the way everything looks so everything works together. But what's great about it is that it does work. You know, that was one of the reasons I changed from a PC over to an Apple Mark was because I just needed something to work quickly and that didn't take 10 years to load up every time I lifted the little on my laptop. So that's why I bought my Apple Mac was for this Mac operating system. Another example is our company Ever Track the adventure travel company, our unique magic bullet it is all around helping people achieve the goals and not actually just booking them onto a tripping and sending them off, but actually making sure that they were able to achieve their goal once they were there by doing everything we care prior to the trip.

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And so we created the chip trip panel, the personalized trip planners, which are actively shared. It's every got everything in there that you would need in order to prepare yourself to get to the top of the mountain. So it's, it's key to think about what is your specific ideal client's problem and perhaps one that isn't being solved right now for us, for the adventure travel company that wasn't being solved. There was lots of companies out there providing trips to people, but no one was really offering the preparation beforehand that was needed in order for them to be able to achieve the goal. And it's also needed for the wider market now as well because, you know, this massively helped the people, the avid trackers who are constantly out there. But we're also getting a lot of customers now and we're reaching a wider market of people who want to get these things ago who perhaps aren't in the right position right now to, to, to, to do it, but they want to book it and they want to work towards it.

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They want to get fit or they want to get healthier and they want to go fot it and these trip planners are becoming invaluable. So this is solving a problem that a lot of people who weren't average trackers to actually get involved. So have a think about who is it you're specifically trying to serve right now? Who are your people and what problem can you solve that they have that isn't currently being solved by other people? And when I say isn't currently being so far, the people, I also want to add on to that, that they may already be having it solved inadvertently by someone else. But it brings me onto my next point as to are they, have they productized it? Are they actively putting that solution out there? Because I guarantee you these companies who I've just mentioned, Uber, Netflix, Amazon, Apple, and have a track, they weren't necessarily the first people with the idea.

(23:09):
There are no new ideas. It's likely that these ideas have floated around many a people person's mind, many businesses mind. But it's never acted upon or it's not acted upon enough. What's really important is that once you get an idea like this is that you are able to productise it so that it's easily shared. One of the benefits of becoming a category of one business is that people kind of get to know you for something. And so it's important that that's really clear and crisp and that they really understand the thing that you are known for. And in order to do that, particularly as a service based business, you know, we have to productise it. You know, you can't see a Mac operating system, but it's productise cause it has a name. We have to be able to turn or services that are invisible into something tangible.

(24:06):
And we can do that by giving it a name, by simplifying the concept so that people really understand what it is that it does. Because the Mac operating system is very, very complicated and I'm sure I didn't really know how it works. All I know is that it gives me the benefit that I'm after and that's what we need to really do with the way we work with people, finding our unique way that solves a problem that's not being served currently and productizing it and really leading the way because in order to really lead and in order to get known for these things, you want to be the first and you have to own it and you've got to lead with it. So many people have great ideas, but they just sit on them and in order to become a category of one business, you've got to get out there with your thing.

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You can't sit on it. You can't hide behind closed doors thinking, yes, this is a fantastic idea and only telling you know, a myriad of a few people in your circle. You have got to really lead with it. Get out there in the market, talk about it, invest in the idea, get it trademarks, all of these different things in order to make sure that you are the first and that people know about it because otherwise you're just going to blend in the background and you're never going to be a leader or even the leader. If you want to be aiming to be the leader, you need to really hone in on that thing that makes you exclusive, that makes you the number one choice that pulls you apart from everybody else out there who may have had the idea at one point in time but never did a thing about it and you don't want to be that person who didn't do a thing about it.

(25:58):
You want to be the person who created and not even just found a great idea because great ideas, they don't fall out the sky and into your lap. You have to really innovate them. You have to create them. There was a lot of thought process that goes behind it. Good ideas have strategy behind them and they didn't just fall out of the sky. You know, it might feel like it when the, when the, when the idea finally pops and goes, right. Okay, here we go. This is the tongue, the tangibleness of it. But that's not really in real life how good ideas are created. They are created by being strategic, but being thoughtful about what you're doing. And that's how great business ideas are born through creative, innovative process. So don't sit on it guys. That's the third thing.

(26:49):
Be the first, own it and lead with it. That's the third thing that you need to do in order to become a category of one. Because you can have the great message, you can really hone in on finding these people. You can have the clarity and you can give the clarity and articulate with precision why you are the best choice. You can productise something and even trademark it and go, yep, this is my idea. But unless you're talking about it, unless you're leading with it, unless you're really take an action to get out there and serve and generate more and more clients into your business, then you are never going to become that market leader and you're never going to become that category of one business. You need to take action on what it is that you've honed in on. Now, just the reminder that the elevate program, these are some of the key things that we focus on inside of that program is really looking at how to niche down, how to find your subcategory and really dominate that corner of the market in order to eventually expand looking and innovating and creating that unique magic bullet, that productized USP that makes you the the reason why people would come to you in order to buy from you, why they wouldn't go anywhere else because you are the perfect match for them, you know, and also the accountability within there to lend lead with it.

(28:17):
You know, it's not just about a one and done process of there. There you have it in the program. There's enough time in there in order for me to support you and for the others in the program to support you through it. Now I've mentioned others just to let you know that the format of the elevate program is that it's one-to-one. First and foremost, you get a lot of my one-to-one time during this program, but we also have the added benefit of an inbuilt mastermind of people who are also on the same journey as you who can help to support you through it as well. So we have a group call every month in addition to your one to ones and then you're also in a Facebook group as well. That way you can kind of share ideas with each other and ask each other's opinions.

(28:59):
So there's all of these different things available. There's a lot more to it than I'm able to articulate on this very short snippet. So do you make sure that you book your call with me to discuss how I can help you specifically because it's not prescriptive, it's a program that has a goal in mind. Absolutely. To become a category of one market leading business. But the way you get there will be different for each business. And so that's really important to understand that and that's why I'm there giving you this critical one-to-one help. You know, this isn't a group program because you know at the end of the day they tend to be quite prescriptive and a, you know, a one size fits all strategy and that's not what is taught inside of elevate. It's a, it's a nurturing program that really helps you to grow for your individual business so that you get the right advice for where you're at and for where you want to go and how you want to grow.

(29:57):
So hopefully that gives you a little flavor. Do you make sure you book a call, the link is in the show notes and I hope that this episode has really helped you to see the three key things that you need to be focusing on in order to really define yourself as a category of one business. To recap, niche down, find a sub category, make sure that you create an innovative pioneering new solution for your market. That unique magic bullet that will make you the compelling reason as to why someone would buy from you. And also grab the attention of other market leaders and other industry leaders within your niche who are also going to be lifting their heads up, not necessarily in competition, but for potentially collaboration opportunities that really positions you as somebody significant. And thirdly, leading with it, you know, really getting yourself out there, becoming known for your speciality for that unrivalled status that you will claim once you really hone in on those, those few things. Right? That's me done for today. Many, many thanks for listening. Any questions, please do pop them to Jen-hall.com. And if you're enjoying the podcast, please do leave us a review because it really tears me up and it helps with the rankings to get this out there to more and more business owners who wants to become market leaders and category of one business owners. Take care, stay safe, and I'll speak to you all again next week.