Business Theory: The Power of Differentiation, Being Special
I now believe that the worst thing you can do when selling a product is to sell what everyone else is selling because it’s hard to turn a profit. You’d have to slash your prices to match your competitors over and over, until no one makes much of anything.
The idea is that if you’re selling kitchen cabinets and they’re selling like hot cakes, it doesn’t necessarily mean that you can tap into that market because the people who sold it first have already built up their name, loyal customers, contacts, and are a step ahead of you.
The power in differentiating yourself and offering something special is that you’ll have very little competitors. That means anyone who wants what you sell will buy what you have because you’re the one of the few that have it.