If you’re a business owner, you know that it’s important to have a good product. But even more important is how you position that product. You need to make sure your target audience knows what your product is and why they should buy it. Creating a strong marketing strategy is essential, and the first step is figuring out who your target market is. Don’t forget that it’s not all about the product – positioning is key!

One of the things we always hear from entrepreneurs is, “How do I make my product service better? How do I improve it?”

We’re here to tell you that while your product and service is always important, the positioning of your product is so much more than the product. I know to us entrepreneurs that pour our heart and soul into whatever we’re building, whether it’s product or service, you’re like, What are you talking about? It’s all about the product.

But here’s what I would say. Think about Nike. For those of you who are runners, you think about Nike and ASICs and Saccone. Right? And if you go back and you ask runners, which of these sneakers are better running sneakers, most of the time, Nike falls last, and a distant last.

And yet, Nike sells 10 times, or 20 times or 50 times more running sneakers than than ASICs and Sony combined. That doesn’t mean that our product or service isn’t important. What it means is that when you’re thinking about where you spend your time and your effort, what’s really important is how you position that product in the marketplace. Nike has positioned this product in a way that people go, Yeah, I can do things. “Just do it” as we know the campaign. And that allows them to sell more and more and more and more.

So if you drew a pie chart, and you said how much effort should I spend on my positioning versus my product, it should be 75% positioning, and 25% product. And remember, that’s counterintuitive for us for when we’re working as an entrepreneur.

Maybe some of the things aren’t going as well as we want to happen. The first thing we typically do is we try to make the product better. Right? Let’s improve it. Let’s give it more features.

But frankly, nobody’s really paying attention to your product until you give them a reason to and that’s all how you go about positioning your product. So when you’re thinking about your time and your effort, how do you find that market niche, that market segment that as we say, ‘Your playground where nobody else is playing?”

Positioning your product is essential to a successful marketing strategy. But it’s not just about telling people what your product is; you need to make sure they understand why they should buy it. When you can position your product in a way that makes sense to your target audience, they’ll start paying attention to all the features and benefits. If you’re looking for more information on how to rising to the top, check out our video on Winning In A Hyper-Competivie World.  In it, we discuss some of the most important things you need to succeed as an entrepreneur.

Hopefully this helps you and your journey from passion to success. Thanks for reading!