Josh Linkner, CEO of Detroit Venture Partners, says you should make your company known for one thing, or no one will remember you.
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00:10 Josh Linkner: If you're known for good service, low prices, fast delivery, et cetera, et cetera, you end up becoming known for just about nothing. What makes you distinctive? In all of our businesses, we want to be the standard by which others are measured. If you happen to know the fashion industry, you happen to know the standard for high heel luxury, Christian Louboutin. This is the most highly coveted shoe on the planet. And it's like that not because it's well made, although I'm sure it is, it's like that because it's distinctive. The bottom of every sole is painted bright red. You can recognize them from across the room. And they have awakened the hearts and minds of customers for over 20 years.00:50 Linkner: Many brands that you know also stand for something. Volvo stands for safety. Walmart stands for everyday low prices. You recognize them for one distinctive quality. And that's what makes them remarkable, which leads me to the question; what makes you distinctive? Picking one thing to stand out will allow you to achieve undeniable success. Rather than trying to be all things to all people, boil down your value proposition into one simple, crisp sentence. If you can do that, it will awaken the hearts and minds of your customers, and will allow your brand to stand above and beyond that of your competitors.
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