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Facts You Should Know about Creating a Strategy

You've done your market analysis, and you have understood what the problems, values and beliefs are in your market. Now, it's time for the crucial strategy: the determination of your position. So, the question is how do you go from market analysis to strategy?

Choosing Your Problem

"War is ninety percent information." Napoleon Bonaparte

Choose a problem that is easy to comprehend, and most importantly, easy to solve. Choose a problem that your potential client is dying to have solved. Choose a problem that is timely, which means that it has some market readiness. One important thing to remember when you look for problems to solve is to take a simple problem that has potential of scale.

Find your position and drive that market

It is time to position yourself and become a choice in the prospect's mind. Your business's size will most likely depend on the market's size you choose and if you've done your market research right, you should have found a good place to draw your lines.

Why a position?

Your position will confirm the suitability of your activities, the things you do. Each of your activities should create value to your potential client, and empower the position you've taken. In short, a position is a marketplace you have chosen: to focus on a problem where the client is not getting help from competitors.

How do I find a position?

The easiest place to innovate is where there is bad competition or preferably no competition at all. Sun Tzu would call this the void.

Trade-offs

"Not everything that can be counted counts, and not everything that counts can be counted." Albert Einstein

Trade-offs are situations that involve not choosing one quality in return for gaining another quality. When you've taken a position, you'll be aware of many more problems, but it is important that you stay true to your promise (your position) and don't break your continuity as this will simply mislead your client on where you stand. If you follow through with your position's activities continually and in synergy, you'll create a trust that will grow stronger in the prospect's eyes.

What's the Difference Between Your Values and the Unique Selling Proposition?

Your values and the USP can easily get mixed up, but they are not the same. The values show what you stand for, while the USP is telling the potential customer what makes you unique and exclusive. For example, when your studio has certain midpoint values that people relate to, you don't need to make products with the same USP over and over again. Thus, you can maintain the same values, but different USP at different projects depending on the needs of the market you're in.

A simple example would be someone with the core value of "safety", this persons value will reflect in all his products and projects but safety is not a unique value proposition, other people in the market also have safety product, your product needs to be unique in some way.

How to Beat Your Competition

"Know your enemy, know his sword." Miyamoto Musashi

Advantage over competitors is gained by offering consumers greater value, either by means of lower prices or by providing greater benefits and service that justifies higher prices. This is best done when you've been analyzing the competitive forces in an industry throughly. This doesn't mean that you should focus incremental improvements on already existing products and try to out perform your competition, rather your focus should be on differentiation. You should be creating something unique or do something uniquely. This will only be a result after you have studied you competition, to be unique you have to know what other people are doing with the intention of not copying.

A Brand is a Promise...

...and a promise is a BIG benefit.

The brand is the president of perception. A strong brand can give the prospect protection against the outside world. It's something to trust. With a brand you have the possibility to truly emphasize the identity of your category. Now, how do you achieve this?

Well, for once, you can only begin branding when your strategy is complete, then your brand can stand for ONE thing. You make yourself known by bringing emotion and function through the name and symbol (Logo-Trademark-Package design). The purpose of the brand is to communicate what you stand for,  what your promise is, what you are against, and the underlying story that connects the dots.

Timing

"The quality of decision is like the well-timed swoop of a falcon which enables it to strike and destroy its victim." Sun Tzu

Depending on how well you've understood your competitors (if you have any) and the needs/wants of the potential client/customer, you'll see when your solution will come in handy. You might have a product in mind but however wait to implement it until the market is ready. The life of your product is held in your timing, value it.

Taking Control and Risk

"I am always doing that which I cannot do, in order that I may learn how to do it." Pablo Picasso

A clear strategy not only involve goals and activities needed to reach your goals, but it requires risk as well. The feeling of risk occurs when we're facing something new and not yet experimented, fear grabs a hold of our heads and truly builds a barrier around our creativity. But to have a successful strategy, and to actually create a marketplace that hasn't been created yet, requires taking a controlled risk and some maybe even some gambling on your part. Having a clear strategic analysis of your market and your place in it, will make a more surer investment, after all your implementation of a product to market is an investment and it should be thought of this way. Why?

Because you are always taking a risk and the more aware you are of this the better the outcome will be.


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