 If you have followed this channel for a reasonable time though you may not know who I am in real life you do know something about me and that is I study a lot. Though today my studies are diversified between videos, audios and reading, when I was growing up the easiest way for me to learn anything is to read books because I didn't have access to the internet connection. So it happened that around the year 2007 I borrowed a book from one of my friends the name of that book is What the Reach Know and desperately want to keep secret. Brian Share in this book taught me a whole lot of simple things about how to build a successful business but one of those lessons stood out and changed the way I see business forever. In this video I am going to be sharing with you that very secret that I learned from Brian Share and I hope it will change your life the way it changed mine. The Man in Green Clothes Imagine a stadium of 50,000 people, everybody in the stadium wears red clothes but you were given a task and that task is going to the stadium and make sure the camera notices you above everyone else. Now let's imagine the scenario from another perspective. Three individuals are to go into that stadium and they were given the same assignment, get to the stadium and get noticed above everyone. When two of these people think to themselves if everyone wears red clothes and we want to be noticed can we simply go to some cloth makers and ask them to make us more reddish clothes? They both thought that's a great idea and they did just that. The third guy thought to himself if everyone wears red what color can I wear to make me the most visible person in the stadium? He got an idea. There's nothing more attractive in an environment that the contrast of the domineering color of the environment. Since everyone wears red, wearing green should do the magic for me and that is it. The third guy wears green and he became the most visible person in the entire stadium. This analogy is simple to understand but not when people are starting businesses. When people are starting businesses oftentimes they are like those two individuals who wear more reddish clothes. I'll confess to you I was like that too until 2007 when I learned the secret of the green clothes from Brian Share. Some people call it unique selling proposition while Brian Share calls it unique selling promise. It simply means that you can't become successful as an entrepreneur by wearing more reddish clothes. You can't become successful by trying to outdo everyone. You can't become successful by competing. You can only become successful by creating. I'll explain how the mind works. By now you have understood that an entrepreneur what you're trying to get is the attention of the people, a whole lot of people. You're like that guy who's going to a stadium filled with 50,000 people and needs the attention of as many people as possible then let's think for a moment about how our mind works. Try to look around and see things that caught your attention. What are they? Are they the things that are better or things that are different? The answer is simple. While we may love better things, we always devote our attention to things that are different. What the buyer is thinking? Whenever people want to buy something, the question that comes to their mind is where should I buy it and why? In other words, every business must answer this question. Why should people buy from you? If I can get what you're selling from another person, why should I come to you? If you can't answer this question in one single statement, you don't have a business yet. If 10 other people sell what you sell, why should I buy from you? You have to understand that I am selfish and as a customer I don't care about your business. What I care about is my comfort. If that is the case, why should I buy from you? Then why is the difference? How are you different from other people who are doing the business you are doing? The War of Price Whenever you ask people to tell you why they expect customers to come to them rather than their competitors, the usual answer is, we sell at cheaper prices. One other thing I learned from Brian Shear is never compete with price except your Rockefeller. I'll explain this. You see, when Rockefeller had become a billionaire, his next goal was to dominate the oil industry and to do that, he often sells at losing to send his competitors away from the market. When he sells at the ridiculously low price that his competitors can never match, the business is failed and he took over the entire market. This way he could then make all the money he has lost back. Rockefeller and other multi-billion dollar companies can do that because they have too much money. You cannot afford to waste a million dollars before you make a profit so you can't fight your competitors with prices. Another problem with competing with prices is that, well, you won't have profit and when you run a business that doesn't make you profit, many evils happen. First, a business that doesn't make good money cannot afford to hire quality people. A company that doesn't make a good profit cannot afford to invest in research and training of its staff. A company that doesn't make a good profit will die very soon. And that is why you can tell me that the reason why you expect customers to come to you is that you are selling at cheaper prices. The root of the difference Remember the smart guy in my previous story? How did that guy know that the green color is the best color to wear against red? He studied and reasoned When I think about smart companies who can differentiate themselves from the crowd, one thing I come to understand is that the management of these companies studied and reasoned. Think about Google. Before Google, there were different search engines but they were mostly clumsy and boring. Google was going to differentiate itself from the stadium of 50,000 spectators and that would never have happened if not because of Larry Page and his co-founder, Sergey Brin knew what their competitors didn't know. Jeff Bezos started Amazon in the year 1994 long before 99% of the world knew that the internet is anything to take seriously. This is the reason why Amazon is different and this is the reason why it is very successful. But how did Bezos get to know about the potential of the internet? He studied, he read books others didn't read and sought knowledge most people didn't care about. Bill Gates discovered the idea that led him to build Microsoft from a magazine his friend brought to him and Steve Jobs wouldn't have been anything if not because he read what most people don't. It's very simple. If I can study what you don't, I will know what you don't and if I know what you don't about business I can do things you cannot do and this will make me different from you and that's the secret of any business success. When better becomes different. So far in this video I've spoken against better and in favor of difference. Now I want you to get me right. While being different from everyone else is the fastest way to build a successful business being better can sometimes mean being different. Think about Facebook. There have been social media before 2004 but when Zuckerberg started the Facebook he did a better job of keeping people on his platform than every other social media site. Because this platform is extremely better the better became the difference and Facebook won the market. The lesson here is that your better can sometimes become a difference if it is far superior to that of the competitor. But again this has to do with a lot of learning because if you don't know what nobody else knows about your market, product or people you can't be superior to your competitors enough to win the market. Whether you set out to be different or your better is so great that it becomes the difference the key is to be different. Why should I buy from you if I can buy what you sell from someone else? How are you different from the other 50 people in the stadium? How are you different from your competitors? If you're not different you've got no business and you can't make good money as an entrepreneur. Thank you for watching our videos. 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