It’s a great way to describe what your product does, but do you and your team understand what that means? What are the characteristics of the original that you believe you have? What will ensure that you will still be in that same game in the future? Or is it a trick to cheat your stakeholders into believing you will get to a similar valuation?
It is a useful exercise to clarify what you mean by taking this useful shortcut. It brings your team together and creates alignment throughout the company. It gives you milestones to look forward to and a manifesto customers can buy into.
What features matter to the original and to us alike.
What parts of both stories are common and what are not.
It’s not enough that you make your story clear for yourself. You also have to make it clear for those you serve.
Most companies have a clear idea of why they are in business, of the problem they solve, of the new world they want to build. But then they stop there. They fail to put in the work that is necessary to spread the word, to tie goals into their vision, to buy others into their perspective. And that’s why most companies feel like they are exactly the same.
Differentiation also means leveraging that unique story and making it relatable. If you don’t understand this, you are in a perfect competition.
If you’re innovating in a nascent market, the push for recognition of your product category needs to be a major chunk of your go-to-market strategy.