Many entrepreneurs struggle with their businesses because they often think that they can’t create or invent innovative products, whether it is a service or a good.
They tend to believe as if their business won’t work if they can’t innovate something new because a lot of other entrepreneurs have already used the idea.
Well, it’s excellent for entrepreneurs to be able to invent or create something that nobody else could create, but, it’s not a good thing for entrepreneurs to stop their businesses if they can’t create something new.
For example, you went to a certain school when you were a kid. But, in your town, there are three other grade schools. Then, you ask your parents why did they make you go to that certain school, and not any of the other grade schools in your town.
Their answer would probably be like this: “Because the school is better for you”, or “The school has an interesting history”, or even “a celebrity went there for school”. In other words, your parents are telling you that this school has something that any other school in the town doesn’t have.
The same thing goes for brands and products. When you have to choose between Coca-Cola and Pepsi, which one would you pick and why? They’re practically the same, a cola drink. Then, what makes people prefer Coke over Pepsi?
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Coke has the ‘Share a Coke’ campaign and Pepsi doesn’t. It has been said several times that Pepsi is better than Coke taste-wise, but still, Coca-Cola generates more sale than Pepsi. This is why adding something new to your cola drink is more important than wasting your time trying to create a new flavored cola drink — looking at the previous example.
And how does one brand be successful without trying to invent something new?
Look for and add value to your brand.
If you are unable to create something new, why don’t you create a new ‘value’ that your competitors don’t have? This is where you should explore your originality. Any product of a brand could be similar to another product of some brand, and it is entirely okay. What you should do, is to add exceptional value to your brand that can make people go for your brand.
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