May 2, 2026 • 23 mins
Barry C LaBov Two-time entrepreneur of the year, marketing firm founder (Macallan, Audi Harley, etc.), and author of Simon and Schuster book, The Power of Differentiation, Win Hearts, Minds and Market Share. Barry website: https://www.barrylabov.com/ Show notes: https://successgrid.net/sg270/ If you love this show, please leave a review. Go to https://ratethispodcast.com/successgrid Join AI Marketers Club: https://www.successgridacademy.com/3a30d0c6
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Hallo, I welcome to the Success Great Podcast with also Stale.
I'm excited to introduce you to a series of conversations
with some of the most successful and sparing individuals from
various industries. My aim is to dive into their stories
behind their success and explore the knowledge, strategies, habits, mindsets,
and wisdom that have propelled their success. Each hipishode of
(00:21):
the Success Great Podcast will feature a different guest who
will share their unique journey, the challenges they faced, and
the ressons they have learned along the way. I would
also be covering topics from entrepreneurship and innovation to leadership
and personal development. Whether you are inspiring entrepreneur, a seasoned
business profession, or just someone looking to improve your life,
(00:41):
the Success Great Podcast is for you. My goal is
to bring you valuable insights and inspiration that will help
you achieve your own success in business and life. So
get ready to learn and be inspired. The Success Great
Podcast starts now and this episode of the Success Great Podcast,
I Have Me Better LBOV. We talk about how to
(01:01):
discover and celebrate your differentiation with your employees, FIRS, how
to win hearts, minds and market share, two time entrepreneur
of the marketing Firm, founder McKellen Auditory and others, and
the author of the Power of Differentiation, Win Hearts.
Speaker 2 (01:17):
Minds and market Share.
Speaker 3 (01:18):
So Berry, thank you for joining me for this instude
of the Successive podcast.
Speaker 4 (01:22):
Well, thank you very much. It's a pleasure. I'm looking
forward to it and let's have a lot of fun.
Speaker 3 (01:28):
So it's very important that the topic that we are
going to be talking about is very important being different nowadays,
but we want to be different in a way that
is authentic. I guess and touches the hearts and minds
of people. But before we go into this topic, I
would like to know throughout your businesses, throughout your experiences
and your book. Now, what is your definition of success
(01:52):
and how do you see other people have misconceptions around
what success is.
Speaker 4 (01:57):
I think success is making a passive impact on as
many people who are around you as possible. I do
not think it's connected to money or fame or trappings
resources anything you own. I think it's about the impact
you make on human beings. Because all the things that
(02:19):
you can earn, whether it's money or toys or cars
or whatever, those are all gone. Those aren't going to
last forever, but the way you can influence people positively
can last lifetimes.
Speaker 3 (02:35):
We need to know or we need to deal with
people in a way that is authentic and it's personal.
And as we know that a lot of things now
could be personal and personal, and we want to be
on distavery of personality with other people to build relationships
because in general, as a business or a business own
our right. We don't want people to buy from us once.
(02:58):
We want them to keep them as gods we can.
Speaker 5 (03:01):
Let's see.
Speaker 3 (03:02):
So the first thing is let's talk about your own
think about this or your thoughts about this. How a
business can, let's see, differentiated themselves from the beginning. Do
you think or do you think it's a learning process
through throughout the growth of the business.
Speaker 5 (03:20):
It's both.
Speaker 4 (03:22):
You have to when you start, if you're a brand
new company, realize there's something you do or can offer
that is unique or distinct. It does not mean you're superior.
It does not mean you're cheaper, doesn't mean you're faster.
It means you're just a little different. You have a
slightly different approach. It might be that you have a
(03:42):
different process or a different customer experience that you offer
you have to determine that because the more you can
hone in on that, the more likely you will also
focus on the right kind of customer. Now, as time
goes on, you should evolve. Harley Davidson, as an example,
(04:02):
started out one hundred and twenty years ago, and they
were primarily focused on bicycles back then, not motorcycles they
did not exist, but bicycles with a tiny little gas
powered engine. Well, as time went on, as we all know,
they started to change and evolve and no longer were
(04:23):
they bicycles, they were motorcycles. And now within the last
five years they have evolved and they also have evs
electric motorcycles.
Speaker 5 (04:34):
So you have to evolve.
Speaker 4 (04:36):
But starting right off, you need to know what you
stand for and what makes you just a little different
from the next person.
Speaker 2 (04:44):
I know critical and important to know.
Speaker 3 (04:46):
It is because when we talk about products or services
for businesses like you can find hundreds of businesses or
services still of the same thing, right, So this is
especially important now. And the social media and the O
a lot of things that can be easier for businesses
to get into the marketplace. So these things now you
(05:07):
mentioned so for and your example with Harley, they basically
thought of it as a bicycle, but it was actually
kind of a gasoline supported, right, so it's a motorcycle.
Speaker 2 (05:19):
So but at the.
Speaker 3 (05:21):
Time, for example, now, did people think that this is
something that they need or do they have to push
the idea for people? Because sometimes businesses, when we think
of things or services or products, either we think that
it's a good from our own perspective as business owners, but.
Speaker 2 (05:43):
How do we know that it is people who receive it? Will?
Speaker 5 (05:46):
We're saying, that's a great question.
Speaker 4 (05:49):
Steve Jobs was obviously a tremendous, brilliant genius who lad Apple,
and his whole approach was he did not care what
the consumer asked for because his point was they don't
know what is possible.
Speaker 5 (06:06):
They only know what they know.
Speaker 4 (06:07):
Today, there are times we as creators need to be
able to say, you know what, I bet people would
love this. They don't understand it's possible. Let's show them
this can be done. And that's the opposite of what
we were also talking about that I think is important,
and that is, you do not want to be a
(06:28):
commodity today and I have this in my book. We
are constantly pressured by what I call the commodity monster,
because the monster.
Speaker 5 (06:40):
Will eat you up alive.
Speaker 4 (06:42):
It will pressure you to lower your prices, to reduce
the uniqueness of your products, to lower your service level.
Also that you can be cheap and you can be
like the next person. But the problem is as you
do that, and you mentioned hearts and mind, you lose
the hearts and minds of your people because now what
(07:04):
they're doing doesn't have any meaning, it has no significance.
They're just shoving something out the door. So we not
only have to do something that is unique and distinct,
but sometimes if we're able to be creative enough and
brilliant enough to create a concept that has not been
out there before, we have to be bold enough to
(07:26):
present it because many times people do not know what
can be done.
Speaker 3 (07:30):
Very important, I guess, because we know a lot of
things that now the Internet when it's stuffed, it wasn't
that big, but when it wasn't true, just now everyone
cannot live without internet now it is, I guess. So yeah, yeah,
you can impact change in people's lives and businesses.
Speaker 2 (07:50):
That's important. And what you mentioned about being.
Speaker 3 (07:53):
A common commodity, that's a very important right.
Speaker 2 (07:57):
But also like when we about the minds and the hearts.
Speaker 3 (08:01):
When we get the minds and the hearts of people,
we will definitely get what you talk about market share.
Speaker 2 (08:07):
So this is very important.
Speaker 3 (08:08):
Right, So does mind and heart do you equals more
market share or market ship?
Speaker 5 (08:17):
That's a great question. Yes.
Speaker 4 (08:18):
I believe that if we can inspire our people by
what we're.
Speaker 5 (08:24):
Doing, so you win their hearts.
Speaker 4 (08:26):
And if it's really something they're excited about that makes sense,
something that's really a good idea and it does good things,
your customer base will feel it. They'll see it in
your people. They'll see it in your product because your
product's going to be made with pride. Your people will
(08:46):
represent it, or your website will represent it with pride.
Speaker 5 (08:51):
It doesn't work the opposite though.
Speaker 4 (08:53):
If you tear away the heart and soul of a
company and a brand and a product, you're not going
to win market share. You're going to lose it because
the customer is going to feel that as well.
Speaker 2 (09:04):
So through all your kareer experiences working with big names.
Speaker 3 (09:08):
What have you seen throughout the years that's really stood
out to.
Speaker 4 (09:12):
I've seen a number of things. I think that the
leaders who are hungry to grow and hungry to learn
and are vulnerable. The ones that will allow criticism and
will allow themselves to consider changing what they're doing or
altering it, they tend to be very successful. I have
(09:34):
also seen that those who feel they have all the
answers and that they don't want to be interfered with
with other thoughts and other approaches. They may be successful
for a while, but I think they face a lot
of headwinds, meaning I believe that they will get less
out of their people, they will get less out of
their product. One more thing I've seen is that what
(09:58):
does not work long term is what I would call
reducing the uniqueness of your offering to lower your price.
So coming up with a cheap version of what you
do normally will not work because it either cannibalizes your
more premium offering or it the dilutes.
Speaker 5 (10:21):
Your entire brand.
Speaker 4 (10:22):
Where they go, well, I don't even know what these
people do because I thought I was paying for this,
but you're really not getting it, and now I'm going
to get the cheap version of it, and it's confusing.
What we don't want to do is confuse our customer.
So I think focusing on what we do best, how
we do that and what level of performance we want
(10:45):
to stand for.
Speaker 5 (10:46):
Are we one of the best? Are we premium?
Speaker 4 (10:49):
If so, let's have the confidence to charge for it
because most people will pay for it. And what we've
also learned on that topic, the number one focus for
most clients as we talk to them and the decision
making that their customers make is not price. It's it's
not the cheapest, it's what they feel is the best
(11:12):
answer for whatever they're trying to achieve, and very seldom
is what they're trying to achieve being the cheapest. So
stand up for what you believe in, stand up for
your brand, your differentiation, charge accordingly.
Speaker 3 (11:26):
So do you believe that in your own opinion? Differentiation
for example, and this part of placing is not a
good idea. We have to charge some kind of premium
for our products or services because lowering, for example, our prices,
it will show others that it's not a good product.
Speaker 2 (11:47):
Maybe, but did you think that.
Speaker 3 (11:48):
Maybe leading prices And also it's not a good strategy
to take market chhare from other companies.
Speaker 4 (11:54):
You can do that. That's what some companies have done.
They've lowered price to grab market share. The dangerous part
of that is that if your plan is also then
once you grab market share and maybe put a few
competitors out of business, that you're then going to raise
prices again, you do hurt your credibility. I believe if
(12:15):
you're not offering anything special, then you should not charge
very much for it. But if you truly think you are,
stand up for it, show some confidence.
Speaker 3 (12:24):
Yeah, that's very important because eventually we are talking about
the brand because when we generally talk about if we're talking,
for example, about big brands, usually when we buy some
coffee from big names, to me, I can make that
at home for the fifth like five percent of the
(12:44):
price for example. But usually people when they buy they
pay for the brand name. So that's what happens over time.
So that's very important. Is the brand and how it's
seen two people and how the how people see it.
So that's very import and we want definitely bring the
brand that people would know about.
Speaker 2 (13:04):
Like for example, you mentioned Steve Jobs.
Speaker 3 (13:06):
I think he was not the person who invented the
phone without the is it was already there, I think,
but he showed two people. So a lot of us
now assume that he's the guy behind that.
Speaker 2 (13:20):
Kind of phone.
Speaker 3 (13:21):
So that's very important to be in a place of
like also what to talk about being a place of
leadership and actually push things through, because if you really
believe in what you are doing, it will It might
need some time, but it will eventually happen because eventually
people in general would want.
Speaker 2 (13:41):
To make their lives easier.
Speaker 3 (13:42):
So when they discover certain things that this product or
service could help me go from it to see easier,
they will definitely start riding that car.
Speaker 2 (13:52):
I would say it right.
Speaker 4 (13:55):
I think you're right, and I think we have to
realize it's not about being perfect. Sometimes we think our
product must be perfect.
Speaker 5 (14:03):
It's not.
Speaker 4 (14:03):
It's about making progress, and that's one thing many companies do.
That's why so many companies will have a fix. You'll
get a notice on your phone or it could be
in your electric car that says, okay, we're having an update. Well,
those updates sometimes are correcting flaws, but it's okay with us.
(14:24):
We're used to it, right, So we have to realize
that's how it ought to be for what we do.
If we make a mistake, let's fix it, let's upgrade
what we're doing for the future. But that still is
no reason to lose confidence and to lower our price.
We need to be able to stand tall and firm
in that area.
Speaker 1 (14:43):
Yeah.
Speaker 3 (14:44):
So here I also leould say, like the message of
the business like it should be consistent. Order the vision
of the business owner or entrepreneur or the companies should
be a vision that is consistent and have a that's
very important.
Speaker 5 (15:01):
This is how you.
Speaker 2 (15:03):
Reach more heights in business.
Speaker 4 (15:05):
Yes, it's very important to be consistent. In the English language.
There are two hundred thousand words we believe that you
need to if you're in the English language, you need
to be very careful and pick the right words instead
of the words everybody else is using all the time,
like quality, service, value, price, whatever. Find some words that
(15:29):
are unique to you and your product and consistently use
those terms that will allow you to be just a
little different, to stand out just a bit more than
the other brands right next to you.
Speaker 3 (15:46):
Yeah, that we talked about price, like it's good to have,
especially if the products it's worth it, it's good to
have a premium for it. But quality and service is
something that in a business should always strive forth to.
That's something that a business should be proud of because
it's like I would say it should be guaranteed to
try to have the best service or the best quality
(16:08):
of product possible. So as you mentioned, we should also
we can add different things into the equation of the
product or the service, which is a new look or
a new perspective into things. Right, Because I assume I
enter any place or a restaurant or whatever it is,
that I would receive the best possible will come or
(16:29):
the best possible product or the best possible service. But
when I don't, I would not I would definitely not
visit that this again, right.
Speaker 4 (16:37):
Well, it's because we do not distinguish between the experience
or service, let's say, and the brand. So you could
produce a great product if it's a restaurant, like you said,
it could be a wonderful, wonderful menu with delicious food.
But if you're not treated correctly, you're not career it appropriately,
(17:01):
if it's not prepared appropriately, if you're not shown the
respect you're due, you walk out and say I'll never
go there again.
Speaker 5 (17:09):
It stinks.
Speaker 4 (17:10):
Well, the reality was the product was great, the service
was bad, and you are now labeling the whole thing
as a bad brand experience. And that goes to whether
you're buying a computer, whether you're buying a car, whether
you're buying a house, you blame the service and the
(17:31):
brand together. You lump them together and you you know,
you reject them. And that's important. So we have to
realize we don't. It's not enough to offer the product
or service that you claim you're going to do. You
have to give the experience, the customer experience that it deserves,
and when you fall short, you hurt the brand. It's
(17:54):
not two different departments in a person's brain. It's all
one place, and it's called that thing I bought and
how I felt about it, and I hate it or
I love it.
Speaker 3 (18:04):
Yeah, it's very important now to give experiences because experiences
I believe that are memorable, right, you like you won't
forget what how there's the situation or certain things, and
that's very important, even sometimes the little things. If it's
possible or it's applicable to build the experiences with the customers,
(18:25):
that's highly recommending to do.
Speaker 5 (18:28):
That's right.
Speaker 4 (18:29):
We have to realize the experience is very important. But again,
as you were talking about, if we're providing the very
very highest level of experience, and that's part of our brand.
Most brands don't do that. So that's why we could
consider charging a premium because when you reach out to me,
(18:49):
I respond. When you call me, I answer the phone.
When we discuss things, I address you appropriately. When you
have an issue, we get it fixed immediately. All those
things will give you an opportunity to drive a deeper
relationship with the customer. And therefore it is worth that
(19:12):
little bit extra when you charge for it. It's not something
that you should discount.
Speaker 3 (19:16):
So do you think, for example, one last point on
for example pricing, how would you think that some businesses
can handle it instead of discounting. Let's see, do you
think there are other situation where they can't keep their prices?
But let's see, maybe there there's certain options of installments
maybe or payment plans. Do you think that's an option
if it is apdicable to the business.
Speaker 4 (19:39):
I think installments can be part of it. But again,
there should be a fairness to it, so you know,
if there's interest charged on it, so that somebody doesn't
diminish your brand by offering those things instead, it should
be Hey, if you're doing that, maybe you pay a
little bit more over time, but you can offer.
Speaker 2 (19:58):
That so throughout you experience. What is the ust advice
that you have received?
Speaker 4 (20:03):
Many times I have been told to give up and
I have no talent, and I did not follow those
In some cases I was deeply hurt.
Speaker 5 (20:11):
In other cases, I was not deeply hurt.
Speaker 4 (20:13):
I appreciated the person because the person was trying to
help me. But I was told give up, you have
no talent, and I moved on. I kept pushing through it.
Speaker 2 (20:23):
Yeah, definitely, it's.
Speaker 3 (20:24):
Not a good advice to listen to, especially the negative
people who have to test and try and give what
the ideas you have and make them come alive.
Speaker 2 (20:34):
That's very important.
Speaker 5 (20:36):
I think you're right.
Speaker 4 (20:37):
I think they were more talking about themselves than me.
So one of them say, give up, you can't do it,
you don't have the talent. I gave up, I didn't
have the talent, you can't and was like, okay, thank
you very much. And I think they were projecting their
problems and their life on me, and I just thought,
you know, thank you, but I'm going to move on.
Speaker 5 (20:58):
I'm going to keep going.
Speaker 2 (20:59):
Yeah, I'm not sure.
Speaker 3 (21:00):
I think I read the book or article that most
people who are negative about these kinds of things.
Speaker 2 (21:05):
People around you.
Speaker 3 (21:06):
When they say these things, it's because like they don't
want to see other people to be in a different
criver than they are, Like they want to see them
and the people that they are. So that's one of
the things that are not good. You should also always,
let's say, at least twish people the best two things.
Speaker 2 (21:23):
At least it's all right.
Speaker 4 (21:25):
And you know, if somebody does well, it shouldn't hurt you.
And if somebody does bad, it should not all of
a sudden make you better. It should have no bearing.
I mean it's human nature. Sometimes they go, well, you know,
maybe he deserves that, but you know, we cannot help others.
Speaker 5 (21:43):
Do badly so that we feel better about ourselves.
Speaker 2 (21:45):
Yeah, definitely differently.
Speaker 3 (21:47):
So would you say that a final takeaway for our
speech here or a conversation here that how can we
discover differentiation or the power of differentiation?
Speaker 2 (21:59):
And how dwin Off's minds in marketcier as a financ
take going.
Speaker 4 (22:03):
I think the most important thing I offer up, even
if you're a small firm, is to stand back and
look at what you offer and what you do, and truly,
to your very best ability, try to discover what makes
it just a little different. And then once you find
a few things, talk to some of your customers and say,
(22:25):
did you think this is a little different or whatever?
Confirm it, and then after that name it, name what
it is. You know, we have children, you name your children.
You don't call this kid child one, child two, child three.
They have names, right, I mean some people name their cars.
Everybody names their pet, right, so why not name your differentiation?
Speaker 5 (22:48):
Right?
Speaker 4 (22:49):
And it picked two or three things at the most.
And then the final thing I would say as part
of it is celebrate it. Celebrate it with the people
who helped build it, create it them with your customers.
Speaker 3 (23:01):
Well, Berry, thank you for joining fort Podcast Insights.
Speaker 2 (23:06):
You shot with us.
Speaker 3 (23:07):
And it's very important in business to win the house
and minds of people. So we can easily into there.
And let's say, get a market share with ease, I
would say, because you don't want to compete on certain
things like lowering your prices, especially if the products or
services are premium ones for example, So that's very important.
You want to give something that is five value and
(23:30):
receive something of that. You would say that it's a
great equal to what you provide. Thank you very much
for joining me.
Speaker 5 (23:38):
Thank you very much. It's been a pleasure
Hallo, I welcome to the Success Great Podcast with also Stale.
I'm excited to introduce you to a series of conversations
with some of the most successful and sparing individuals from
various industries. My aim is to dive into their stories
behind their success and explore the knowledge, strategies, habits, mindsets,
and wisdom that have propelled their success. Each hipishode of
(00:21):
the Success Great Podcast will feature a different guest who
will share their unique journey, the challenges they faced, and
the ressons they have learned along the way. I would
also be covering topics from entrepreneurship and innovation to leadership
and personal development. Whether you are inspiring entrepreneur, a seasoned
business profession, or just someone looking to improve your life,
(00:41):
the Success Great Podcast is for you. My goal is
to bring you valuable insights and inspiration that will help
you achieve your own success in business and life. So
get ready to learn and be inspired. The Success Great
Podcast starts now and this episode of the Success Great Podcast,
I Have Me Better LBOV. We talk about how to
(01:01):
discover and celebrate your differentiation with your employees, FIRS, how
to win hearts, minds and market share, two time entrepreneur
of the marketing Firm, founder McKellen Auditory and others, and
the author of the Power of Differentiation, Win Hearts.
Speaker 2 (01:17):
Minds and market Share.
Speaker 3 (01:18):
So Berry, thank you for joining me for this instude
of the Successive podcast.
Speaker 4 (01:22):
Well, thank you very much. It's a pleasure. I'm looking
forward to it and let's have a lot of fun.
Speaker 3 (01:28):
So it's very important that the topic that we are
going to be talking about is very important being different nowadays,
but we want to be different in a way that
is authentic. I guess and touches the hearts and minds
of people. But before we go into this topic, I
would like to know throughout your businesses, throughout your experiences
and your book. Now, what is your definition of success
(01:52):
and how do you see other people have misconceptions around
what success is.
Speaker 4 (01:57):
I think success is making a passive impact on as
many people who are around you as possible. I do
not think it's connected to money or fame or trappings
resources anything you own. I think it's about the impact
you make on human beings. Because all the things that
(02:19):
you can earn, whether it's money or toys or cars
or whatever, those are all gone. Those aren't going to
last forever, but the way you can influence people positively
can last lifetimes.
Speaker 3 (02:35):
We need to know or we need to deal with
people in a way that is authentic and it's personal.
And as we know that a lot of things now
could be personal and personal, and we want to be
on distavery of personality with other people to build relationships
because in general, as a business or a business own
our right. We don't want people to buy from us once.
(02:58):
We want them to keep them as gods we can.
Speaker 5 (03:01):
Let's see.
Speaker 3 (03:02):
So the first thing is let's talk about your own
think about this or your thoughts about this. How a
business can, let's see, differentiated themselves from the beginning. Do
you think or do you think it's a learning process
through throughout the growth of the business.
Speaker 5 (03:20):
It's both.
Speaker 4 (03:22):
You have to when you start, if you're a brand
new company, realize there's something you do or can offer
that is unique or distinct. It does not mean you're superior.
It does not mean you're cheaper, doesn't mean you're faster.
It means you're just a little different. You have a
slightly different approach. It might be that you have a
(03:42):
different process or a different customer experience that you offer
you have to determine that because the more you can
hone in on that, the more likely you will also
focus on the right kind of customer. Now, as time
goes on, you should evolve. Harley Davidson, as an example,
(04:02):
started out one hundred and twenty years ago, and they
were primarily focused on bicycles back then, not motorcycles they
did not exist, but bicycles with a tiny little gas
powered engine. Well, as time went on, as we all know,
they started to change and evolve and no longer were
(04:23):
they bicycles, they were motorcycles. And now within the last
five years they have evolved and they also have evs
electric motorcycles.
Speaker 5 (04:34):
So you have to evolve.
Speaker 4 (04:36):
But starting right off, you need to know what you
stand for and what makes you just a little different
from the next person.
Speaker 2 (04:44):
I know critical and important to know.
Speaker 3 (04:46):
It is because when we talk about products or services
for businesses like you can find hundreds of businesses or
services still of the same thing, right, So this is
especially important now. And the social media and the O
a lot of things that can be easier for businesses
to get into the marketplace. So these things now you
(05:07):
mentioned so for and your example with Harley, they basically
thought of it as a bicycle, but it was actually
kind of a gasoline supported, right, so it's a motorcycle.
Speaker 2 (05:19):
So but at the.
Speaker 3 (05:21):
Time, for example, now, did people think that this is
something that they need or do they have to push
the idea for people? Because sometimes businesses, when we think
of things or services or products, either we think that
it's a good from our own perspective as business owners, but.
Speaker 2 (05:43):
How do we know that it is people who receive it? Will?
Speaker 5 (05:46):
We're saying, that's a great question.
Speaker 4 (05:49):
Steve Jobs was obviously a tremendous, brilliant genius who lad Apple,
and his whole approach was he did not care what
the consumer asked for because his point was they don't
know what is possible.
Speaker 5 (06:06):
They only know what they know.
Speaker 4 (06:07):
Today, there are times we as creators need to be
able to say, you know what, I bet people would
love this. They don't understand it's possible. Let's show them
this can be done. And that's the opposite of what
we were also talking about that I think is important,
and that is, you do not want to be a
(06:28):
commodity today and I have this in my book. We
are constantly pressured by what I call the commodity monster,
because the monster.
Speaker 5 (06:40):
Will eat you up alive.
Speaker 4 (06:42):
It will pressure you to lower your prices, to reduce
the uniqueness of your products, to lower your service level.
Also that you can be cheap and you can be
like the next person. But the problem is as you
do that, and you mentioned hearts and mind, you lose
the hearts and minds of your people because now what
(07:04):
they're doing doesn't have any meaning, it has no significance.
They're just shoving something out the door. So we not
only have to do something that is unique and distinct,
but sometimes if we're able to be creative enough and
brilliant enough to create a concept that has not been
out there before, we have to be bold enough to
(07:26):
present it because many times people do not know what
can be done.
Speaker 3 (07:30):
Very important, I guess, because we know a lot of
things that now the Internet when it's stuffed, it wasn't
that big, but when it wasn't true, just now everyone
cannot live without internet now it is, I guess. So yeah, yeah,
you can impact change in people's lives and businesses.
Speaker 2 (07:50):
That's important. And what you mentioned about being.
Speaker 3 (07:53):
A common commodity, that's a very important right.
Speaker 2 (07:57):
But also like when we about the minds and the hearts.
Speaker 3 (08:01):
When we get the minds and the hearts of people,
we will definitely get what you talk about market share.
Speaker 2 (08:07):
So this is very important.
Speaker 3 (08:08):
Right, So does mind and heart do you equals more
market share or market ship?
Speaker 5 (08:17):
That's a great question. Yes.
Speaker 4 (08:18):
I believe that if we can inspire our people by
what we're.
Speaker 5 (08:24):
Doing, so you win their hearts.
Speaker 4 (08:26):
And if it's really something they're excited about that makes sense,
something that's really a good idea and it does good things,
your customer base will feel it. They'll see it in
your people. They'll see it in your product because your
product's going to be made with pride. Your people will
(08:46):
represent it, or your website will represent it with pride.
Speaker 5 (08:51):
It doesn't work the opposite though.
Speaker 4 (08:53):
If you tear away the heart and soul of a
company and a brand and a product, you're not going
to win market share. You're going to lose it because
the customer is going to feel that as well.
Speaker 2 (09:04):
So through all your kareer experiences working with big names.
Speaker 3 (09:08):
What have you seen throughout the years that's really stood
out to.
Speaker 4 (09:12):
I've seen a number of things. I think that the
leaders who are hungry to grow and hungry to learn
and are vulnerable. The ones that will allow criticism and
will allow themselves to consider changing what they're doing or
altering it, they tend to be very successful. I have
(09:34):
also seen that those who feel they have all the
answers and that they don't want to be interfered with
with other thoughts and other approaches. They may be successful
for a while, but I think they face a lot
of headwinds, meaning I believe that they will get less
out of their people, they will get less out of
their product. One more thing I've seen is that what
(09:58):
does not work long term is what I would call
reducing the uniqueness of your offering to lower your price.
So coming up with a cheap version of what you
do normally will not work because it either cannibalizes your
more premium offering or it the dilutes.
Speaker 5 (10:21):
Your entire brand.
Speaker 4 (10:22):
Where they go, well, I don't even know what these
people do because I thought I was paying for this,
but you're really not getting it, and now I'm going
to get the cheap version of it, and it's confusing.
What we don't want to do is confuse our customer.
So I think focusing on what we do best, how
we do that and what level of performance we want
(10:45):
to stand for.
Speaker 5 (10:46):
Are we one of the best? Are we premium?
Speaker 4 (10:49):
If so, let's have the confidence to charge for it
because most people will pay for it. And what we've
also learned on that topic, the number one focus for
most clients as we talk to them and the decision
making that their customers make is not price. It's it's
not the cheapest, it's what they feel is the best
(11:12):
answer for whatever they're trying to achieve, and very seldom
is what they're trying to achieve being the cheapest. So
stand up for what you believe in, stand up for
your brand, your differentiation, charge accordingly.
Speaker 3 (11:26):
So do you believe that in your own opinion? Differentiation
for example, and this part of placing is not a
good idea. We have to charge some kind of premium
for our products or services because lowering, for example, our prices,
it will show others that it's not a good product.
Speaker 2 (11:47):
Maybe, but did you think that.
Speaker 3 (11:48):
Maybe leading prices And also it's not a good strategy
to take market chhare from other companies.
Speaker 4 (11:54):
You can do that. That's what some companies have done.
They've lowered price to grab market share. The dangerous part
of that is that if your plan is also then
once you grab market share and maybe put a few
competitors out of business, that you're then going to raise
prices again, you do hurt your credibility. I believe if
(12:15):
you're not offering anything special, then you should not charge
very much for it. But if you truly think you are,
stand up for it, show some confidence.
Speaker 3 (12:24):
Yeah, that's very important because eventually we are talking about
the brand because when we generally talk about if we're talking,
for example, about big brands, usually when we buy some
coffee from big names, to me, I can make that
at home for the fifth like five percent of the
(12:44):
price for example. But usually people when they buy they
pay for the brand name. So that's what happens over time.
So that's very important. Is the brand and how it's
seen two people and how the how people see it.
So that's very import and we want definitely bring the
brand that people would know about.
Speaker 2 (13:04):
Like for example, you mentioned Steve Jobs.
Speaker 3 (13:06):
I think he was not the person who invented the
phone without the is it was already there, I think,
but he showed two people. So a lot of us
now assume that he's the guy behind that.
Speaker 2 (13:20):
Kind of phone.
Speaker 3 (13:21):
So that's very important to be in a place of
like also what to talk about being a place of
leadership and actually push things through, because if you really
believe in what you are doing, it will It might
need some time, but it will eventually happen because eventually
people in general would want.
Speaker 2 (13:41):
To make their lives easier.
Speaker 3 (13:42):
So when they discover certain things that this product or
service could help me go from it to see easier,
they will definitely start riding that car.
Speaker 2 (13:52):
I would say it right.
Speaker 4 (13:55):
I think you're right, and I think we have to
realize it's not about being perfect. Sometimes we think our
product must be perfect.
Speaker 5 (14:03):
It's not.
Speaker 4 (14:03):
It's about making progress, and that's one thing many companies do.
That's why so many companies will have a fix. You'll
get a notice on your phone or it could be
in your electric car that says, okay, we're having an update. Well,
those updates sometimes are correcting flaws, but it's okay with us.
(14:24):
We're used to it, right, So we have to realize
that's how it ought to be for what we do.
If we make a mistake, let's fix it, let's upgrade
what we're doing for the future. But that still is
no reason to lose confidence and to lower our price.
We need to be able to stand tall and firm
in that area.
Speaker 1 (14:43):
Yeah.
Speaker 3 (14:44):
So here I also leould say, like the message of
the business like it should be consistent. Order the vision
of the business owner or entrepreneur or the companies should
be a vision that is consistent and have a that's
very important.
Speaker 5 (15:01):
This is how you.
Speaker 2 (15:03):
Reach more heights in business.
Speaker 4 (15:05):
Yes, it's very important to be consistent. In the English language.
There are two hundred thousand words we believe that you
need to if you're in the English language, you need
to be very careful and pick the right words instead
of the words everybody else is using all the time,
like quality, service, value, price, whatever. Find some words that
(15:29):
are unique to you and your product and consistently use
those terms that will allow you to be just a
little different, to stand out just a bit more than
the other brands right next to you.
Speaker 3 (15:46):
Yeah, that we talked about price, like it's good to have,
especially if the products it's worth it, it's good to
have a premium for it. But quality and service is
something that in a business should always strive forth to.
That's something that a business should be proud of because
it's like I would say it should be guaranteed to
try to have the best service or the best quality
(16:08):
of product possible. So as you mentioned, we should also
we can add different things into the equation of the
product or the service, which is a new look or
a new perspective into things. Right, Because I assume I
enter any place or a restaurant or whatever it is,
that I would receive the best possible will come or
(16:29):
the best possible product or the best possible service. But
when I don't, I would not I would definitely not
visit that this again, right.
Speaker 4 (16:37):
Well, it's because we do not distinguish between the experience
or service, let's say, and the brand. So you could
produce a great product if it's a restaurant, like you said,
it could be a wonderful, wonderful menu with delicious food.
But if you're not treated correctly, you're not career it appropriately,
(17:01):
if it's not prepared appropriately, if you're not shown the
respect you're due, you walk out and say I'll never
go there again.
Speaker 5 (17:09):
It stinks.
Speaker 4 (17:10):
Well, the reality was the product was great, the service
was bad, and you are now labeling the whole thing
as a bad brand experience. And that goes to whether
you're buying a computer, whether you're buying a car, whether
you're buying a house, you blame the service and the
(17:31):
brand together. You lump them together and you you know,
you reject them. And that's important. So we have to
realize we don't. It's not enough to offer the product
or service that you claim you're going to do. You
have to give the experience, the customer experience that it deserves,
and when you fall short, you hurt the brand. It's
(17:54):
not two different departments in a person's brain. It's all
one place, and it's called that thing I bought and
how I felt about it, and I hate it or
I love it.
Speaker 3 (18:04):
Yeah, it's very important now to give experiences because experiences
I believe that are memorable, right, you like you won't
forget what how there's the situation or certain things, and
that's very important, even sometimes the little things. If it's
possible or it's applicable to build the experiences with the customers,
(18:25):
that's highly recommending to do.
Speaker 5 (18:28):
That's right.
Speaker 4 (18:29):
We have to realize the experience is very important. But again,
as you were talking about, if we're providing the very
very highest level of experience, and that's part of our brand.
Most brands don't do that. So that's why we could
consider charging a premium because when you reach out to me,
(18:49):
I respond. When you call me, I answer the phone.
When we discuss things, I address you appropriately. When you
have an issue, we get it fixed immediately. All those
things will give you an opportunity to drive a deeper
relationship with the customer. And therefore it is worth that
(19:12):
little bit extra when you charge for it. It's not something
that you should discount.
Speaker 3 (19:16):
So do you think, for example, one last point on
for example pricing, how would you think that some businesses
can handle it instead of discounting. Let's see, do you
think there are other situation where they can't keep their prices?
But let's see, maybe there there's certain options of installments
maybe or payment plans. Do you think that's an option
if it is apdicable to the business.
Speaker 4 (19:39):
I think installments can be part of it. But again,
there should be a fairness to it, so you know,
if there's interest charged on it, so that somebody doesn't
diminish your brand by offering those things instead, it should
be Hey, if you're doing that, maybe you pay a
little bit more over time, but you can offer.
Speaker 2 (19:58):
That so throughout you experience. What is the ust advice
that you have received?
Speaker 4 (20:03):
Many times I have been told to give up and
I have no talent, and I did not follow those
In some cases I was deeply hurt.
Speaker 5 (20:11):
In other cases, I was not deeply hurt.
Speaker 4 (20:13):
I appreciated the person because the person was trying to
help me. But I was told give up, you have
no talent, and I moved on. I kept pushing through it.
Speaker 2 (20:23):
Yeah, definitely, it's.
Speaker 3 (20:24):
Not a good advice to listen to, especially the negative
people who have to test and try and give what
the ideas you have and make them come alive.
Speaker 2 (20:34):
That's very important.
Speaker 5 (20:36):
I think you're right.
Speaker 4 (20:37):
I think they were more talking about themselves than me.
So one of them say, give up, you can't do it,
you don't have the talent. I gave up, I didn't
have the talent, you can't and was like, okay, thank
you very much. And I think they were projecting their
problems and their life on me, and I just thought,
you know, thank you, but I'm going to move on.
Speaker 5 (20:58):
I'm going to keep going.
Speaker 2 (20:59):
Yeah, I'm not sure.
Speaker 3 (21:00):
I think I read the book or article that most
people who are negative about these kinds of things.
Speaker 2 (21:05):
People around you.
Speaker 3 (21:06):
When they say these things, it's because like they don't
want to see other people to be in a different
criver than they are, Like they want to see them
and the people that they are. So that's one of
the things that are not good. You should also always,
let's say, at least twish people the best two things.
Speaker 2 (21:23):
At least it's all right.
Speaker 4 (21:25):
And you know, if somebody does well, it shouldn't hurt you.
And if somebody does bad, it should not all of
a sudden make you better. It should have no bearing.
I mean it's human nature. Sometimes they go, well, you know,
maybe he deserves that, but you know, we cannot help others.
Speaker 5 (21:43):
Do badly so that we feel better about ourselves.
Speaker 2 (21:45):
Yeah, definitely differently.
Speaker 3 (21:47):
So would you say that a final takeaway for our
speech here or a conversation here that how can we
discover differentiation or the power of differentiation?
Speaker 2 (21:59):
And how dwin Off's minds in marketcier as a financ
take going.
Speaker 4 (22:03):
I think the most important thing I offer up, even
if you're a small firm, is to stand back and
look at what you offer and what you do, and truly,
to your very best ability, try to discover what makes
it just a little different. And then once you find
a few things, talk to some of your customers and say,
(22:25):
did you think this is a little different or whatever?
Confirm it, and then after that name it, name what
it is. You know, we have children, you name your children.
You don't call this kid child one, child two, child three.
They have names, right, I mean some people name their cars.
Everybody names their pet, right, so why not name your differentiation?
Speaker 5 (22:48):
Right?
Speaker 4 (22:49):
And it picked two or three things at the most.
And then the final thing I would say as part
of it is celebrate it. Celebrate it with the people
who helped build it, create it them with your customers.
Speaker 3 (23:01):
Well, Berry, thank you for joining fort Podcast Insights.
Speaker 2 (23:06):
You shot with us.
Speaker 3 (23:07):
And it's very important in business to win the house
and minds of people. So we can easily into there.
And let's say, get a market share with ease, I
would say, because you don't want to compete on certain
things like lowering your prices, especially if the products or
services are premium ones for example, So that's very important.
You want to give something that is five value and
(23:30):
receive something of that. You would say that it's a
great equal to what you provide. Thank you very much
for joining me.
Speaker 5 (23:38):
Thank you very much. It's been a pleasure
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