What's Your Unfair Advantage?
So we mentioned this next term a little bit earlier what you're unfair advantage but someone told told me this it was actually I think it was a tech guy who who did a block post and this term came up and I loved it because it's it's it really sums up is I watch your edge what makes you different as a brand ondas a product in the marketplace and again this this is a kind of a note taking exercise is really thinking and being very honest as to kind of what what is your edge? Ok, I put a few little point is here that I was thinking about when I was building a suit he scarfs, you know, maybe it's a brand story. Maybe you're building a story about brand that your fifth generation scarf maker that your great great great great grandmother used to sweep the floors of her mares and, you know, picked up some great techniques and now you know it's, just like I have it instilled in my brain somewhere or maybe it's an artisanal technique that you just want to bring back to existence, a lot of a lot...
of crafting is going going out maybe you want to bring something back and make it relevant again, maybe it's a social change of manufacturing empowerment, maybe that is your message is a brand you know, extremely important very, very important very relevant maybe that is your message that you know you want to really hand over or maybe it's a unique product or material that you're working with may be that is your advantage is a brand okay so it's really again brainstorming write some notes nothing is nothing is right nothing is wrong it's just an idea at this stage ok, so my advantage is I I'm looking to complain combine retro designs and colors I'm looking at working with artisanal techniques accessible price points and accustomed product because I want to make custom I want to make a very lean process by anyone who produced what people purchase okay, so this is my advantage what I see is my unfair advantage okay um I've picked for some companies just have one on they make it work there's no rules to this I think it's just find something which is, you know really kind of is the part of your mission and then put it out there and again you come back to that okay? So define your advantage this would be a great twitter tohave I'd love to know what people's advantages are unfair advantages so throw some great ideas and we're gonna have a look at those little bit later so I've already given you the spoiler oh my goodness it's like what's your advantage I've given the game away already you probably orcs and great notes going on. So that's, that's really kind of like sums up the kind of understanding what your product is, learning who you are, a za business where the mission statement is what the vision is being very aware of the competition on understanding who the market is and why you're new, your unique. What is your unfair advantage? We mentioned it a few times. Write these things down, make it visual, put it out there so you see it. So it's first thing, or maybe the second thing you see, you know, after first thing I see is a pot of coffee. Second thing is kind of like what's, my unfair advantage what's my mission statement. Okay, it's, it's, there is in front of me. I cannot ignore it cannot verge away from it s o so that to me is a kind of like a great way to end the first section. Um, kind of like, really thinking about who you are as a brand.
Once you’ve established your business with a single, successful product, imagining what else to sell can be daunting. You don’t want to end up with a disjointed collection of products, but you do want it to be fresh and exciting for existing customers. In Diversifying Your Product Line, you’ll learn the art and science of expanding your offerings and growing your business.
Susie Breuer is the author of Blue is the New Black: The 10 Step Guide to Developing and Producing a Fashion Collection and in this class she’ll help you generate ideas and make smart decisions about expanding your apparel and/or accessories business. You’ll learn how to:
- Research the market to understand both price and your customers.
- Build a concept and action plan for starting out
- Manage multiple product lines
- Source raw materials and manufacturers
You’ll learn how to accurately assess a product's viability before you waste time and money developing it. Susie will also teach you how to develop a consistent, logical pricing strategy you can use again and again.
Susie makes the complex process of developing a financially solvent product and production plan easy. You’ll get expert-level insights into all aspects of developing a new product and walk away confident that you know everything you need to know to expand your business.