How To Make Your Business Stand Out

When it comes to entrepreneurship, it seems like the key to standing out is having a completely original, big idea. 

Angel investors search for the next Steve Jobs to shake up the technology world with some undiscovered digital asset. Restaurateurs keep their eyes peeled for the latest celebrity chef who fuses things that no one has fused before. Self-help enthusiasts, like me, hunt for new concepts, mantras, books, and gurus that will unlock the door to all of life’s mysteries. 

But here’s the rub in these searches for “originality.” There’s nothing new under the sun. No exceptions. Not even in business.

This begs the question — If there is nothing new under the sun, what about all the new businesses in entirely new industries that we enjoy today? I mean Blue Apron, the company and the meal kit service, didn’t exist 10 years ago. Surely that business idea is new under this sun, right?

The answer is no. At its core, Blue Apron is a service that gathers groceries and delivers them to people. That’s not new. What makes Blue Apron stand out, however, is its innovative take on making grocery delivery more convenient.   

How To Innovate

You see, the key to making any business stand out is innovation. Generally, innovation refers to creating more effective processes and products. It doesn’t mean coming up with brand new ideas. It simply means finding ways to improve on existing ones.  

Generally speaking, there are 3 areas of innovation in business. They are:

• Price – Customers always want to pay less. If you can figure out a way to consistently keep prices low and stay in business, you’ll win like Walmart.
• Convenience – Here’s what makes businesses like Blue Apron stand out.  They are convenient meaning they are quick, reliable, easy, and flexible.  Customers will always pay a premium for convenience.
• Impact – If your business creates a high emotional effect (Toms shoes), has high aesthetic appeal  (Apple), or high status (Louis Vuitton), then your innovating. People will pay a premium because they love the way a product or service with an emotional impact makes them feel.

Applying Innovation To Stand Out

Now that we know how to innovate, we have to apply these improvements to our businesses.  Here are some ideas.

Niche

A niche is a specialized group of people that share similar demographics. For example, I exist in the specialized groups of:

 1) Women, 

2) African American Women, 

3) African American Women with Natural Hair, and 

4) African American Women Attorneys with Natural Hair,  just to name a few. 

A business can be innovative using a niche by focusing on making things convenient for these specialized groups.  There are a lot of products and services that make things more comfortable for the majority but not for those who needs may differ. If you make things more convenient for that group specifically, you’re sure to stand out. 

Purpose

Another way to innovate and stand out is through your business purpose. A purpose-driven business is a company that creates a positive change for its customers and the communities it serves. (Think Toms shoes again here.)  A well-delineate business purpose fosters a high emotional impact for customers. Buyers feel good when they can purchase something they need and further a cause at the same time.

Values

Values are self-maintained personal standards rooted in emotion. Take Dyson, for example. It’s clear that that company values excellent design in addition to functionality.  So it creates aesthetically pleasing vacuums and other products. Customers that value design will be attracted to Dyson’s products because they share the company’s values. Ultimately, that values alignment makes the customer feel good.  

The point here is this — although there is nothing new under the sun, your company can still stand out if it is innovative.  That means improving upon products and processes by lowering the price, making them more convenient, or creating an emotional impact. In doing so, you can create a business that stands shoulders above the rest and makes money.

Do you have any ideas on innovation and standing out in business? I love to hear them.  Let me know your tips and thoughts in the comments below.