In this post, you’re going to learn to apply the strength versus size concept to your specific situation as you become a freelancer and design your offering.
Strength describes the components of your competitive advantage. Usually these are things like knowledge of a specific industry, knowledge a specific geography, knowledge about technology, or other sources of competitive advantage that your competition likely doesn’t have.
Size basically just describes the size of the market. A common error for less experienced businesspeople is to think that they can serve many different industries, geographies, or people. In reality, your source of competitive advantage is going to be to specialize early on.
Specialization takes two forms. One is specialization in terms of the tribe on which you’re focusing. If you’re focusing on a specific tribe of people, then your specialization is very compelling to that audience.
Check out our post, How to Define Your Tribe.
The other form a specialization is on your technology. Your technology could be a computer or other specific technological application that helps deliver value for your customers. Or maybe just a specialized process that you developed over time that’s more a efficient or more effective than your competitors.
A good rule of thumb to check yourself on when you’re thinking about designing and delivering your offering is this: “Am I delivering ten times the value to the customer relative to the price that they paid?”
For example, if somebody is paying you $1,000, how can you demonstrate to them that they’re either going to save or earn ten thousand dollars more. Once you have that narrative down, you’re in a much more powerful position.
Many people don’t feel great about getting into sales conversations. If that’s your case, you might want to check out our Word Tracks for Leads resource.
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