Discussing the critical role of positioning for success in creative entrepreneurship, the podcast highlights the seven most common mistakes firms make when positioning themselves. It covers the importance of understanding client perceptions, distinguishing strategy from execution, the value of specialization, meaningful positioning strategies, and common positioning mistakes in marketing tactics.
Democratizing positioning decisions can dilute focus and clarity, prioritize leadership input.
Avoid including all past work in positioning to prevent dilution and maintain focus on target markets.
Deep dives
Democratizing Positioning Decisions
One common mistake in positioning a firm is to include too many people in the decision-making process, leading to a lack of clarity and focus. When a firm democratizes the positioning, each individual's preferences may dilute the overall strategic direction. While feedback is valuable, the ultimate decision should rest with the principal or leadership team to ensure a cohesive and effective positioning strategy.
Drawing Overly Inclusive Positioning Circles
Positioning a firm by drawing a circle around all past successful work can be counterproductive. This mistake involves trying to include every past experience and client type into the new positioning strategy. By drawing a circle that is too inclusive, the firm risks diluting its message and appearing unfocused to potential clients. It is crucial to resist the urge to incorporate unrelated past experiences and focus on a more targeted positioning.
Falling Prey to Selection Bias
Selection bias can hinder effective positioning by focusing only on why clients choose the firm without considering why clients might leave. By solely emphasizing the reasons for client acquisition, firms may overlook critical feedback that could improve their positioning strategy. Understanding both why clients choose and leave a firm provides a more comprehensive view for refining positioning that resonates with clients' needs and expectations.
Separating Strategy from Implementation
A crucial aspect of positioning involves distinguishing between strategic thinking and execution. Firms often mistakenly tie their positioning to implementation, which can make the value proposition less distinct. Positioning should primarily emphasize the strategic value the firm offers, as this is where the potential for a price premium lies. By separating strategic positioning from implementation, firms can enhance clarity and market differentiation.
After having discussed positioning in multiple previous episodes, David puts together in this one episode the seven most common mistakes firms make when positioning themselves.
Get the Snipd podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share & Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered podcast player
Listen to all your favourite podcasts with AI-powered features
Discover highlights
Listen to the best highlights from the podcasts you love and dive into the full episode