How To Pivot Your Business From Commodity To Category Creator

Saturday, December 09, 2023

"Have you ever pitched your product or service and the first thing clients asks you about is the price? Like all they care about is the cost before they even understand what you can bring to the table. Trust me it's painful and I’ve felt it too. A few years ago I had an answering service business called LiveVoice and I constantly felt like I was just another commodity in the market. Small business owners didn’t value our expertise, and it just felt like a price race to the bottom. But out of frustration and enough pain one day I sat down and started thinking that what would happen if I found a new niche or industry that needed a call center but isn’t using one. Then I thought that it would be interesting because I wouldn't have as much competition. They couldn’t price shop if we were the only game in town right. Then I thought, if we could find an industry or niche that had big clients and there was less competition, then maybe we could land big clients instead of dealing with small businesses that would haggle on price all the time. So I grabbed a piece of paper and asked myself: who needs a call center but isn’t using one? I thought back to when I was a kid and being constantly on hold to order a pizza, remembering my parents on hold trying to book a hotel room, or remembering how big of a pain it was to call a hospital to schedule an appointment. I was like these are good ideas but the next question was how can I test these ideas to see if the market would actually want these. So, i did some research on the lingo of each of these verticals and created personalized emails and linkedin messages to executives at large companies instead of small companies. Not sure what would happen I sent out the messages and a few days later was shocked by what happened. I saw in my inbox from the CEO of Firehouse Subs and the CMO of Checkers and Rally’s asking to set up a call. And thats when it hit me that the combination of targeting larger companies and positioning them for a specific vertical was a game charger. Fast forward a year later. I created a new company called Order Solutions and basically created a new category called restaurant call centers that worked with corporations like Denny's, Famous Dave's, and Outback Steakhouse. With each client signing contracts ranging from $400K-$3M annually. Compared to $10k or $30K a year clients it was a different world. So how can you do this today and find your own blue ocean market. Here’s how. Define Your Offer: List out what you currently bring to the table. Identify Potential Verticals: Which sectors or industries might need what you're offering? Brainstorm on re-packaging your products or services: So For each vertical, brainstorm ways to position your offering as a standalone, essential solution. Target Bigger Fish: Identify the key players who would benefit most from your tailored offer. Test & Validate: Use platforms like LinkedIn Sales Navigator or personalized cold emails to pitch your ideas. Analyze & Tweak: Measure response rates to determine the most promising sectors. Go All In: Once you identify a high-demand area, focus your energies and expertise there. If you want a cheatsheet on how to do this process that goes into more detail click the link in by bio or the link below and we’ll shoot over it to you so you can start creating your own category.

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