Watch the full training here:
Today, I love to share with you this concept called “The Zig-Zag” theory.
Take for example, if a lot of businesses or a lot of competitors in the topic that you have chosen… or in the same business that you're about to go into for example. They have decided that they want to go with answering a specific need of the market.
Then you've got to choose a different “need” or “want” from the market or of the market to satisfy.
I always teach this to my personal mentees who engage me on 1-on-1 basis.
The best example I can think of is how can Pizza Hut and Domino's Pizza coexist? I'm not too sure where you come from whether they have these two companies in the country, but I do know in Singapore and US, they are huge.
But how is it that Pizza Hut and Domino's Pizza, they are coexisting right? How come they can still generate your own revenues?
Well it's because they don't answer to the same “needs”.
Something that I taught in all my programs, especially business ones, is you got to have a Unique Selling Point. Right? When again, everyone's “zigging” you want to be the one that goes “zag”. When everyone's “zagging” you want to be the one that goes “zig”.
That's the “Zig-zag theory”. Now you get my point right?
So when it comes to Pizza Hut, a lot of people favor it's taste. Now of course not everyone's going to agree with that.
So Pizza Hut has always been going after taste. They've been going after different variety. Now if Domino's Pizza were to go in to the market of selling pizzas and try to take over the market by doing what Pizza Hut is already doing, obviously Domino's Pizza is not going to be able to survive.
So what do they do in order for them to “zag” when Pizza Hut is going “zig”?They have chosen to have a different Unique Selling Point (USP).
What is their USP?
“Pizza delivered to you in 30 minutes or it's yours free”. That's basically their slogan. I may have paraphrased it but there's the 30 minutes promise.
The reason why Domino's Pizza is able to survive in the market although it is very competitive and could be dominated by so many pizza sellers out there, predominantly by Pizza Hut.. How they're still able to own a pie of the market is by “zagging” when everyone's “zigging”.
Everyone's fighting for the best, the tastiest Pizza… the crispiest crust and stuff like that, which Pizza Hut goes for, right?
They choose to go the other way.
Their USP and their target market is people who are too busy, people who are just so hungry they're craving for pizza that they don't really care about the taste (Not necessarily caring for the taste).
But they just want to get the pizza fast. So that is the “need” of the market that they are answering to.
So when it comes to us running a business, right, we got to do the same thing as well.
A lot of people and a lot of times my personal mentees, my Inner Circlers even my graduates ask me this question.
“How do I create a product and get people to want to buy it from me where there's already so many products existing targeting the same target market that I'm going for… targeting the same audiences?”
“How do I make sure that they want to buy my product or engage me for my services?”
Well…the answer is: There's got to be a difference!
There's got to be something unique that they can't get from anywhere else except from you.
And that is the way you get people to buy from you and that explains why I can have complete beginners coming my workshop. They have never started an internet business before for example, or any forms of businesses.
They have no existing ideas most of the time and they don't have technical skills. But how do you really explain how this people can use what I share with them and become Bestsellers.
“How did they get people to buy a lot of copies of the same ebook for example?”
This is the answer: When everyone's “zigging” you can got to “zag” you got to have a USP.
Imagine selling the same packet of rice that can be bought anywhere else. What do customers do after a while? They always go for the cheapest place, right? You will always compete on price.
And you and I know that if you compete on price, you can never have a sustainable business. You can never have a sustainable business because wherever you are, unless you're from Vietnam or you're from China. They are always people in these two countries who can beat us in terms of manufacturing costs, who can beat us in terms of the production cost. Meaning that there's no way that we can (majority of us) can sell stuff at a lower cost or sell stuff at a lower price than they could.
So don't fight with price.
What you want to do is to really understand what your Market really wants and that's some of the things that I teach in my workshops itself. You've got to understand what the market wants.
The basic premise is you must know what their desires/frustrations are first. Okay? For those of you who are my graduates watching/reading this…obviously you already know the process, right? So you can go ahead and check your notes.
We've got to understand what the market wants first. That's the key. Once you understand what they want… Then the next thing is you got to know what are the “needs” that you can satisfy, that other people are not necessarily already satisfying?
They (Domino's Pizza) are targeting busy people. That's how they survive and thrive in this very competitive Pizza selling world.
And that is what we have to do in our own business as well.
So I really encourage you right now, after watching this training… this video… is to maybe ask yourself for the topic that you are about to work on or you've chosen…
“Do you have a Unique Selling Point for it?”
And if not, what could be the USP if everyone's “zigging”? How could you “zag”? If everyone's “zigging” how do you “zag”? If everyone's “zagging”, how are you “zig”? You got to have that (answer).
Once you have the answer to that question that I just asked you, you will be able to attract customers.
And as much as even if they you don't like your face, they don't like your name, they don't like your product name… they still got to get the product from you, they still got to get the services from you.
And that's one of the things that I definitely coach my graduates to do and that's one of the things that I definitely do in my own business as well.
Look… I'm not the most handsome man out there. I'm not the youngest guy out there. I'm not the oldest and wisest guy out there, right?
But how is it that people will still decide to come and join me? How is it that people would still want me to consult for them, to help them?
Because I've got a USP and my USP is that I'm able to condense complicated stuffs like strategies, into a simple-to-understand format, in a very practical way, that even a complete beginner who comes to me through my training… they too will be empowered and we'll be in a better place to be able to do that as well.
So really think about the question and I'll see you in the next training when I have it.
Want to learn more from Dominic Tay? Do these right away:
- SUBSCRIBE to This Channel:
- FOLLOW Dominic Tay:
- TELL ME what you want to learn next:
If you like this training, tell me in the comments section along with what other training videos you would like to see.