Coming up with a truly unique idea is rarely easy or a one-step process. It takes time and often the collaboration of creative, strong and diverse minds.
To have a unique, brilliant idea is to have something which nobody else has – but which everybody wants.
It can be illustrated this way:
The proof of a good unique idea is that with it you can offer users something they strongly need and want but cannot get anywhere else. When they recognize this they willingly jump aboard to become loyal customers and pay you well.
Having a unique company and offering a unique product or products gives you some major advantages:
1. Customers will flock to you if you can solve their problem or fill their need in a better way than your competitors.
If they want the best solution – your solution – they have no alternative.
2. Competitors cannot successfully copy your brilliant idea.
This means you can’t be dragged into the “copy cake area” in the graph shown earlier. The copy cake area is filled with tough competition in market share and profit – your products must be unique to stay ahead of the pack.
3. Investors favor uniqueness over “same old.”
If your company and its products are well differenti- ated, your appeal to investors is higher, and (if you’re a publicly-traded company) you can command a higher price per share. Investors are exposed to less risk, and it’s less likely that some competitor will develop an alternative product that poses a serious challenge to your market position.
4. It’s better to be miles ahead of competitors.
Being ahead allows you more freedom to focus on product improvement, rather than on catching up with competitors and luring away their existing customers.
Of course, building a unique company in the first place isn’t easy, but when you’ve done it, and strive continually to im- prove it, you have advantages that are priceless.