This is a great article and message for all businesses. If you are a small business owner, if you answer the question "what do you do" with the features of your product or service, you're just competing with everyone else.
People buy people; they buy purpose and meaning of why your business exists, and why you do what you do. Think of your purpose first. Why did you start the business? Why are you passionate about the value you add? Add stories around this purpose.
Our purpose is to empower and inspire our clients make better decisions with their wealth. We believe we have the privileged position of being able to add more value to more people than anyone else. We can add value to our clients lives AND their children and grandchildren. The people who will be the leaders of tomorrow. Our clients children will be the heart surgeons and business leaders of tomorrow. Maybe, one child will grow up to find the cure for cancer.
This is what wealth management is about for us. We plan, protect, and invest wealth to help our clients and their families realise their purpose and change the world. We're just part of the support show.
1. Never lead with features and functionality We see it all the time. Tech startups want to lead with claims that their product is the fastest, lightest or smallest [fill in blank] ever to be introduced to the market. This approach makes sense because innovators are proud of what they have built. But, here’s the problem: Your product may not be the fastest, smallest or lightest for long, and hanging your brand on a feature makes you vulnerable to fast-followers looking to marginalise your brand. Your product features should tee up the differentiating benefit you deliver to consumers. What consumers care about is that it puts a cold one at their fingertips. Features and functionality are not the headline to the story -- they are the supporting messaging that makes it believable.