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These are the user uploaded subtitles that are being translated: 1 1 00:00:00,060 --> 00:00:02,129 This is the most important criteria 2 2 00:00:02,130 --> 00:00:03,800 that I could possibly use 3 3 00:00:03,840 --> 00:00:05,570 when determining success 4 4 00:00:05,640 --> 00:00:06,749 or not success 5 5 00:00:06,750 --> 00:00:08,309 or failure when 6 6 00:00:08,310 --> 00:00:09,809 sourcing a private 7 7 00:00:09,810 --> 00:00:10,749 label product. 8 8 00:00:10,750 --> 00:00:11,690 OK so 9 9 00:00:11,920 --> 00:00:13,280 and what it is 10 10 00:00:13,410 --> 00:00:15,299 is how can I differentiate 11 11 00:00:15,300 --> 00:00:16,259 and add value. 12 12 00:00:16,260 --> 00:00:17,879 So I'm going to show you guys 13 13 00:00:17,880 --> 00:00:20,030 just a couple of ways that we can 14 14 00:00:20,220 --> 00:00:21,530 differentiate here. 15 15 00:00:21,570 --> 00:00:23,309 Well first let me tell you why 16 16 00:00:23,310 --> 00:00:24,590 this is important. 17 17 00:00:24,660 --> 00:00:26,159 So back in the day 18 18 00:00:26,160 --> 00:00:27,059 2014 19 19 00:00:27,060 --> 00:00:28,799 and before it didn't really matter 20 20 00:00:28,800 --> 00:00:30,689 what you were doing there used to be the days 21 21 00:00:30,690 --> 00:00:32,519 of you could go on private label 22 22 00:00:32,520 --> 00:00:34,040 and just throw a label on it 23 23 00:00:34,170 --> 00:00:35,330 put your own logo 24 24 00:00:35,340 --> 00:00:36,149 and then sell 25 25 00:00:36,150 --> 00:00:36,920 and kill it. 26 26 00:00:36,990 --> 00:00:38,519 Well those days are over. 27 27 00:00:38,520 --> 00:00:40,400 That's not going to work anymore. 28 28 00:00:40,440 --> 00:00:42,029 Maybe if you catch an early market 29 29 00:00:42,030 --> 00:00:43,220 that's still possible. 30 30 00:00:43,230 --> 00:00:44,879 But I just don't believe that it works 31 31 00:00:44,880 --> 00:00:45,410 anymore 32 32 00:00:45,600 --> 00:00:46,790 or if it does 33 33 00:00:47,280 --> 00:00:48,809 you have to have the 34 34 00:00:48,810 --> 00:00:49,940 best marketing 35 35 00:00:50,010 --> 00:00:51,659 and you have to have a lot of dollars 36 36 00:00:51,660 --> 00:00:53,249 and you have to do some tricks to 37 37 00:00:53,250 --> 00:00:53,969 get it ranking. 38 38 00:00:53,970 --> 00:00:55,550 Otherwise people just 39 39 00:00:55,650 --> 00:00:57,329 basically aren't going to buy 40 40 00:00:57,330 --> 00:00:58,700 your product because 41 41 00:00:59,460 --> 00:01:01,430 when you have less reviews 42 42 00:01:01,740 --> 00:01:03,299 and the same product as the 43 43 00:01:03,300 --> 00:01:05,240 other guy and he is just as good of a listing 44 44 00:01:05,519 --> 00:01:06,800 why would they buy yours. 45 45 00:01:07,410 --> 00:01:08,840 You're not ranking as high as them either. 46 46 00:01:08,880 --> 00:01:10,649 It just doesn't 47 47 00:01:10,650 --> 00:01:12,779 make sense from that perspective 48 48 00:01:12,780 --> 00:01:14,279 the way that you can convince 49 49 00:01:14,280 --> 00:01:15,839 somebody or yourself like 50 50 00:01:15,840 --> 00:01:17,600 think if you were looking for listings 51 51 00:01:17,850 --> 00:01:19,679 why would you buy your product 52 52 00:01:19,680 --> 00:01:20,660 over the others. 53 53 00:01:20,850 --> 00:01:22,339 Well there's certain ways. 54 54 00:01:22,340 --> 00:01:23,819 Now if you play 55 55 00:01:23,820 --> 00:01:25,379 to those certain ways you can 56 56 00:01:25,380 --> 00:01:26,879 speak out to that individual 57 57 00:01:26,880 --> 00:01:27,359 customer. 58 58 00:01:27,360 --> 00:01:29,330 So I think it's very important 59 59 00:01:29,340 --> 00:01:30,959 to understand the use case 60 60 00:01:30,960 --> 00:01:31,940 for your product 61 61 00:01:32,040 --> 00:01:34,010 and what they are 62 62 00:01:34,290 --> 00:01:35,450 who the customer is. 63 63 00:01:35,490 --> 00:01:37,490 So that's how you're gonna be able to 64 64 00:01:37,500 --> 00:01:39,119 find a way to add value 65 65 00:01:39,120 --> 00:01:39,959 or differentiate. 66 66 00:01:39,960 --> 00:01:41,549 So the first one is going 67 67 00:01:41,550 --> 00:01:43,169 to be how can you make a better 68 68 00:01:43,170 --> 00:01:44,529 assortment of goods. 69 69 00:01:44,530 --> 00:01:46,139 OK let's 70 70 00:01:46,140 --> 00:01:47,930 say we're going into a market 71 71 00:01:48,210 --> 00:01:49,799 and we're going just 72 72 00:01:49,800 --> 00:01:50,759 on Amazon. 73 73 00:01:50,760 --> 00:01:52,529 All right. So let's say we are looking 74 74 00:01:52,530 --> 00:01:54,410 at GoPro accessories 75 75 00:01:54,570 --> 00:01:56,690 and they're all different 76 76 00:01:56,820 --> 00:01:58,319 assortments OK for 77 77 00:01:58,320 --> 00:01:59,369 different markets 78 78 00:01:59,370 --> 00:02:00,190 and whatnot. 79 79 00:02:00,540 --> 00:02:02,380 So yeah 80 80 00:02:03,380 --> 00:02:05,089 so you could tell that 81 81 00:02:05,090 --> 00:02:06,829 people are buying whatever is the most 82 82 00:02:06,830 --> 00:02:08,740 efficient assortment for them 83 83 00:02:08,900 --> 00:02:10,758 and there is way to add value 84 84 00:02:10,759 --> 00:02:11,229 there 85 85 00:02:13,890 --> 00:02:15,809 now there has been a bit of consolidation 86 86 00:02:15,810 --> 00:02:17,339 in this one actually over time 87 87 00:02:17,340 --> 00:02:19,019 just because there's such high 88 88 00:02:19,020 --> 00:02:20,519 volume and then it's like who can get 89 89 00:02:20,520 --> 00:02:21,740 the most in there. 90 90 00:02:21,810 --> 00:02:23,429 But this is just to 91 91 00:02:23,430 --> 00:02:24,959 prove the point essentially 92 92 00:02:24,960 --> 00:02:26,729 that there are certain ways 93 93 00:02:26,730 --> 00:02:28,729 that you can make an assortment. 94 94 00:02:28,730 --> 00:02:30,359 You get the economies of scale 95 95 00:02:30,360 --> 00:02:31,949 and that's going to allow people 96 96 00:02:31,950 --> 00:02:33,800 to want to buy yours over the others because 97 97 00:02:33,840 --> 00:02:35,720 it's the best value for their deal. 98 98 00:02:36,210 --> 00:02:37,670 So that is one way. 99 99 00:02:37,850 --> 00:02:39,809 Now let's say a different size. 100 100 00:02:39,810 --> 00:02:41,309 OK. And let me show you an example 101 101 00:02:41,310 --> 00:02:43,289 of that. OK so we have an example 102 102 00:02:43,290 --> 00:02:44,810 of how size can be 103 103 00:02:45,240 --> 00:02:46,160 important here. 104 104 00:02:46,230 --> 00:02:47,480 So there's these 105 105 00:02:47,880 --> 00:02:49,529 essentially these wet wipes that people 106 106 00:02:49,530 --> 00:02:50,519 are using for camping 107 107 00:02:50,520 --> 00:02:51,739 or are after they work out 108 108 00:02:51,740 --> 00:02:53,009 or went on they can't take a shower 109 109 00:02:53,010 --> 00:02:54,899 and they want to clean themselves 110 110 00:02:54,900 --> 00:02:56,549 off. So what was 111 111 00:02:56,550 --> 00:02:57,320 right here. 112 112 00:02:57,330 --> 00:02:59,099 Simply by increasing the size 113 113 00:02:59,100 --> 00:03:00,320 of these wet wipes. 114 114 00:03:00,360 --> 00:03:01,919 They are now more valuable to 115 115 00:03:01,920 --> 00:03:03,509 somebody because they can clean off their entire 116 116 00:03:03,510 --> 00:03:05,159 body with just one wipe. 117 117 00:03:05,160 --> 00:03:06,809 So that's example of how they've 118 118 00:03:06,810 --> 00:03:08,300 added value through 119 119 00:03:08,460 --> 00:03:09,269 adding the size 120 120 00:03:09,270 --> 00:03:10,799 or just think 121 121 00:03:10,800 --> 00:03:12,860 about different markets where 122 122 00:03:13,560 --> 00:03:14,459 a larger product 123 123 00:03:14,460 --> 00:03:16,130 or a smaller product would be 124 124 00:03:16,260 --> 00:03:18,149 more appealable. 125 125 00:03:18,150 --> 00:03:19,829 So let's say we're looking at a case 126 126 00:03:19,830 --> 00:03:21,530 for a drone which 127 127 00:03:21,780 --> 00:03:23,720 for me having a very small case 128 128 00:03:23,730 --> 00:03:25,229 was really important because I'm traveling 129 129 00:03:25,230 --> 00:03:25,919 and walking around 130 130 00:03:25,920 --> 00:03:27,539 with this. So yeah there's those people 131 131 00:03:27,540 --> 00:03:29,000 who are going to want 132 132 00:03:29,040 --> 00:03:30,800 the very heavy duty case 133 133 00:03:30,840 --> 00:03:32,429 that's going to protect their drone then may be 134 134 00:03:32,430 --> 00:03:33,340 a professional. 135 135 00:03:33,390 --> 00:03:35,099 But then on the other side there's the travel 136 136 00:03:35,100 --> 00:03:36,689 people who want something that's 137 137 00:03:36,690 --> 00:03:37,679 very efficient. 138 138 00:03:37,680 --> 00:03:39,020 So there's obviously the 139 139 00:03:39,450 --> 00:03:41,480 there one for the more professional 140 140 00:03:41,550 --> 00:03:43,109 and then the travel guys. 141 141 00:03:43,110 --> 00:03:44,669 And there are all sorts 142 142 00:03:44,670 --> 00:03:45,509 of different ones. 143 143 00:03:45,510 --> 00:03:47,129 So that is one way to 144 144 00:03:47,130 --> 00:03:47,819 differentiate. 145 145 00:03:47,820 --> 00:03:49,559 All right. So another way you could differentiate 146 146 00:03:49,560 --> 00:03:51,209 is simply adding a 147 147 00:03:51,210 --> 00:03:53,000 different color like let's say 148 148 00:03:53,100 --> 00:03:54,959 for an example you are selling 149 149 00:03:54,960 --> 00:03:56,909 a fitness accessory 150 150 00:03:56,910 --> 00:03:57,800 or something 151 151 00:03:57,930 --> 00:03:59,849 and there is just black 152 152 00:03:59,850 --> 00:04:01,409 and you know just 153 153 00:04:01,410 --> 00:04:02,459 the generic colors 154 154 00:04:02,460 --> 00:04:04,169 but perhaps there is a subset 155 155 00:04:04,170 --> 00:04:05,699 of women to not 156 156 00:04:05,700 --> 00:04:06,569 to be stereotypical 157 157 00:04:06,570 --> 00:04:07,799 but there's no pink ones. 158 158 00:04:07,800 --> 00:04:09,299 OK. My sisters love pink 159 159 00:04:09,300 --> 00:04:11,159 there is women 160 160 00:04:11,160 --> 00:04:12,719 is as womanly as you could 161 161 00:04:12,720 --> 00:04:14,339 get. And so they would buy 162 162 00:04:14,340 --> 00:04:15,320 anything pink. 163 163 00:04:15,360 --> 00:04:16,949 So there you can 164 164 00:04:16,950 --> 00:04:17,789 add a color 165 165 00:04:17,790 --> 00:04:19,369 and then that's going to be 166 166 00:04:19,410 --> 00:04:21,249 speaking out to that customer 167 167 00:04:21,250 --> 00:04:22,919 who's underserved in the market. 168 168 00:04:22,920 --> 00:04:24,569 So there's also the difference 169 169 00:04:24,570 --> 00:04:26,039 of adding features. 170 170 00:04:26,040 --> 00:04:27,599 OK so let's say 171 171 00:04:27,600 --> 00:04:29,099 there was a handle on something 172 172 00:04:29,100 --> 00:04:30,320 that wasn't the best 173 173 00:04:30,510 --> 00:04:32,570 or we could go back to these 174 174 00:04:32,880 --> 00:04:33,959 these drone cases 175 175 00:04:33,960 --> 00:04:35,930 and perhaps there was 176 176 00:04:36,050 --> 00:04:37,739 you know some people wanted a place 177 177 00:04:37,740 --> 00:04:39,479 to also put their laptop 178 178 00:04:39,480 --> 00:04:40,979 in. So are 179 179 00:04:40,980 --> 00:04:43,079 like different organizations 180 180 00:04:43,080 --> 00:04:44,819 basically any way that people 181 181 00:04:44,820 --> 00:04:45,899 are looking for features 182 182 00:04:45,900 --> 00:04:47,579 or say they wish something 183 183 00:04:47,580 --> 00:04:48,239 was like this 184 184 00:04:48,240 --> 00:04:48,929 but it's not. 185 185 00:04:48,930 --> 00:04:50,339 So a good way that you could go 186 186 00:04:50,340 --> 00:04:51,929 and do that is go look 187 187 00:04:51,930 --> 00:04:53,349 at the reviews. 188 188 00:04:53,350 --> 00:04:54,659 OK. So make sure to go 189 189 00:04:54,660 --> 00:04:56,390 and watch the video on 190 190 00:04:56,400 --> 00:04:58,259 how to download all your negative reviews. 191 191 00:04:58,260 --> 00:04:59,879 And that's a very valuable way 192 192 00:04:59,880 --> 00:05:01,439 to get this feedback on how 193 193 00:05:01,440 --> 00:05:03,380 to differentiate in general because 194 194 00:05:03,420 --> 00:05:04,109 that's what I did 195 195 00:05:04,110 --> 00:05:05,609 with the eclipse glasses 196 196 00:05:05,610 --> 00:05:07,040 and that's how I found 197 197 00:05:07,140 --> 00:05:08,489 all these different ways I knew that. 198 198 00:05:08,490 --> 00:05:10,199 Oh wait there's people who are talking 199 199 00:05:10,200 --> 00:05:11,879 about using cameras 200 200 00:05:11,880 --> 00:05:13,369 and also 201 201 00:05:13,370 --> 00:05:14,789 that there's light leakage. 202 202 00:05:14,790 --> 00:05:16,580 So I made that the goggles 203 203 00:05:16,640 --> 00:05:18,269 solved the light leakage problem. 204 204 00:05:18,270 --> 00:05:19,949 I also found out how that 205 205 00:05:19,950 --> 00:05:21,680 people wanted stuff for the camera. 206 206 00:05:21,720 --> 00:05:23,249 And then I was able to make filters 207 207 00:05:23,250 --> 00:05:24,959 for that and filters for telescope. 208 208 00:05:24,960 --> 00:05:26,609 So by reading through others through 209 209 00:05:26,610 --> 00:05:28,289 those reviews you're really going to learn 210 210 00:05:28,290 --> 00:05:30,440 a lot and find these ways to differentiate. 211 211 00:05:30,810 --> 00:05:32,429 All right. So another way is going to be 212 212 00:05:32,430 --> 00:05:33,989 design so you could 213 213 00:05:33,990 --> 00:05:35,669 change the there's two types 214 214 00:05:35,670 --> 00:05:37,619 of design. So there are the basic 215 215 00:05:37,620 --> 00:05:38,540 aesthetics. 216 216 00:05:38,610 --> 00:05:40,379 So let's say a T-shirt 217 217 00:05:40,380 --> 00:05:41,780 the design on that 218 218 00:05:41,910 --> 00:05:43,409 is you know that's very 219 219 00:05:43,410 --> 00:05:44,159 subjective 220 220 00:05:44,160 --> 00:05:46,040 or a piece of art 221 221 00:05:46,080 --> 00:05:47,900 or anything else where 222 222 00:05:48,000 --> 00:05:49,739 you can have subjective 223 223 00:05:49,740 --> 00:05:50,420 design. 224 224 00:05:50,430 --> 00:05:51,989 So this could also come 225 225 00:05:51,990 --> 00:05:53,679 into play with things that serve 226 226 00:05:53,680 --> 00:05:55,199 utility for example my 227 227 00:05:55,200 --> 00:05:56,039 clips glasses. 228 228 00:05:56,040 --> 00:05:57,719 I do have 99 Designs 229 229 00:05:57,720 --> 00:05:59,150 and I spend hundreds of dollars 230 230 00:05:59,220 --> 00:06:00,899 and got over 35 designs 231 231 00:06:00,900 --> 00:06:02,240 because I knew that 232 232 00:06:02,400 --> 00:06:03,959 by having the best design 233 233 00:06:03,960 --> 00:06:05,729 glasses people be more likely 234 234 00:06:05,730 --> 00:06:07,760 to buy mine over the others because 235 235 00:06:07,890 --> 00:06:09,389 while they were buying it for a specific 236 236 00:06:09,390 --> 00:06:10,130 purpose 237 237 00:06:10,870 --> 00:06:12,699 why not. They want the best designed 238 238 00:06:12,700 --> 00:06:14,490 one too. So they want the best 239 239 00:06:14,740 --> 00:06:15,810 highest quality 240 240 00:06:16,210 --> 00:06:17,499 with the best design. 241 241 00:06:17,500 --> 00:06:19,419 So that was a way that I was able to differentiate 242 242 00:06:19,420 --> 00:06:19,890 there. 243 243 00:06:20,380 --> 00:06:22,050 Now there is also 244 244 00:06:22,060 --> 00:06:23,709 the 3D form 245 245 00:06:23,710 --> 00:06:24,609 factor design. 246 246 00:06:24,610 --> 00:06:26,700 Now this one is going to be a little bit harder 247 247 00:06:26,830 --> 00:06:28,359 because if you have to open a 248 248 00:06:28,360 --> 00:06:29,220 new mold 249 249 00:06:29,290 --> 00:06:30,720 and get a whole new 250 250 00:06:31,360 --> 00:06:33,069 you know basically if you're not just adding 251 251 00:06:33,070 --> 00:06:34,659 something very simple it's going to cost a lot 252 252 00:06:34,660 --> 00:06:36,669 more unless you have a good relationship 253 253 00:06:36,670 --> 00:06:37,710 with your supplier. 254 254 00:06:38,020 --> 00:06:40,089 But this is a really good way to differentiate 255 255 00:06:40,090 --> 00:06:41,649 because you get design patent 256 256 00:06:41,650 --> 00:06:43,179 if you make a unique 257 257 00:06:43,180 --> 00:06:43,920 change. 258 258 00:06:44,440 --> 00:06:46,029 There is a lot more simple 259 259 00:06:46,030 --> 00:06:46,650 than that. 260 260 00:06:46,810 --> 00:06:48,579 I may have a video on this in the future 261 261 00:06:48,580 --> 00:06:50,760 if not but if not Google 262 262 00:06:51,220 --> 00:06:53,199 what a design patent 263 263 00:06:53,200 --> 00:06:54,390 requirements are. 264 264 00:06:54,400 --> 00:06:56,049 But by having this mold 265 265 00:06:56,050 --> 00:06:57,669 and putting your company name into 266 266 00:06:57,670 --> 00:06:59,499 it by the way so that they don't reproduce 267 267 00:06:59,500 --> 00:07:01,359 that mold you're going to differentiate 268 268 00:07:01,360 --> 00:07:02,070 yourself 269 269 00:07:02,230 --> 00:07:03,579 and people will buy it. 270 270 00:07:03,580 --> 00:07:05,169 So I one example 271 271 00:07:05,170 --> 00:07:06,219 of a design. 272 272 00:07:06,220 --> 00:07:07,440 Well let's just say my 273 273 00:07:07,780 --> 00:07:09,039 Eclipse goggles. 274 274 00:07:09,040 --> 00:07:10,539 OK. So they had 275 275 00:07:10,540 --> 00:07:12,279 a better design that actually 276 276 00:07:12,280 --> 00:07:14,049 added features that it blocked 277 277 00:07:14,050 --> 00:07:15,609 out less light than 278 278 00:07:15,610 --> 00:07:16,890 did the 279 279 00:07:17,290 --> 00:07:18,069 other glasses. 280 280 00:07:18,070 --> 00:07:19,800 So I was adding a feature 281 281 00:07:19,900 --> 00:07:21,690 and a cool looking design. 282 282 00:07:21,790 --> 00:07:23,349 And so that is how I was able 283 283 00:07:23,350 --> 00:07:25,380 to charge you know where everybody else was charging 284 284 00:07:25,690 --> 00:07:26,709 two dollars a glass. 285 285 00:07:26,710 --> 00:07:28,599 I was charging 30 dollars 286 286 00:07:28,600 --> 00:07:29,840 for one goggle. 287 287 00:07:30,010 --> 00:07:30,339 OK. 288 288 00:07:30,340 --> 00:07:31,959 So because I solved 289 289 00:07:31,960 --> 00:07:33,549 and differentiated I was the only person 290 290 00:07:33,550 --> 00:07:35,520 on the market no PPC 291 291 00:07:36,070 --> 00:07:37,569 no anything to get that launched 292 292 00:07:37,570 --> 00:07:38,340 and it killed it. 293 293 00:07:38,440 --> 00:07:40,339 So that is one great example. 294 294 00:07:40,340 --> 00:07:42,099 And oh I guess that also goes into 295 295 00:07:42,100 --> 00:07:43,869 just the more effective solution. 296 296 00:07:43,870 --> 00:07:44,979 OK. So if. 297 297 00:07:44,980 --> 00:07:46,539 But be careful that you 298 298 00:07:46,540 --> 00:07:48,129 are inventing within 299 299 00:07:48,130 --> 00:07:49,269 what people are looking 300 300 00:07:49,270 --> 00:07:50,949 and you know just whatever 301 301 00:07:50,950 --> 00:07:52,629 your product offering is is 302 302 00:07:52,630 --> 00:07:53,820 actually better. 303 303 00:07:53,980 --> 00:07:55,659 And then just 304 304 00:07:55,660 --> 00:07:57,429 better marketing to the customer. 305 305 00:07:57,430 --> 00:07:59,040 OK. So if 306 306 00:07:59,080 --> 00:08:00,579 you're looking into a market 307 307 00:08:00,580 --> 00:08:02,199 and it is all targeted 308 308 00:08:02,200 --> 00:08:03,990 towards a certain group of people 309 309 00:08:04,150 --> 00:08:05,889 and you know that there are other groups 310 310 00:08:05,890 --> 00:08:07,200 that are underserved 311 311 00:08:07,480 --> 00:08:08,769 by either reading the reviews 312 312 00:08:08,770 --> 00:08:10,770 or using your own gut instinct 313 313 00:08:11,200 --> 00:08:12,849 you can market to 314 314 00:08:12,850 --> 00:08:14,250 that group of people. 315 315 00:08:14,440 --> 00:08:16,179 And then now this product 316 316 00:08:16,180 --> 00:08:17,820 even though it may be the same 317 317 00:08:17,850 --> 00:08:18,789 it's just marketed 318 318 00:08:18,790 --> 00:08:20,370 and pitched differently. 319 319 00:08:20,410 --> 00:08:21,969 So that that other people get 320 320 00:08:21,970 --> 00:08:23,499 the right feeling that like you know 321 321 00:08:23,500 --> 00:08:25,440 this one seems like it's for me. 322 322 00:08:25,540 --> 00:08:27,579 For example supplements they're all basically 323 323 00:08:27,580 --> 00:08:28,500 the same thing 324 324 00:08:28,540 --> 00:08:30,309 but they all market themselves 325 325 00:08:30,310 --> 00:08:31,869 in different ways. Let me see if I can find an 326 326 00:08:31,870 --> 00:08:32,610 example. 327 327 00:08:32,980 --> 00:08:34,538 All right. So right here we have the 328 328 00:08:34,539 --> 00:08:36,069 premium brain function this one 329 329 00:08:36,070 --> 00:08:37,290 right here brain boost. 330 330 00:08:37,450 --> 00:08:39,459 And what they focus on is memory 331 331 00:08:39,460 --> 00:08:40,658 focus and clarity. 332 332 00:08:40,659 --> 00:08:42,339 This one is more focused on 333 333 00:08:42,340 --> 00:08:43,928 energy. And then over here 334 334 00:08:43,929 --> 00:08:45,810 this one's also focused on energy. 335 335 00:08:45,880 --> 00:08:47,790 So by having the different pitch 336 336 00:08:48,040 --> 00:08:49,539 people are looking for nootropics 337 337 00:08:49,540 --> 00:08:51,639 but certain ones 338 338 00:08:51,640 --> 00:08:53,499 speak out to a different types 339 339 00:08:53,500 --> 00:08:55,029 of people based off 340 340 00:08:55,030 --> 00:08:56,559 that different you know like who. 341 341 00:08:56,560 --> 00:08:58,419 What are the people that are looking for nootropics. 342 342 00:08:58,420 --> 00:09:00,150 What do they actually want. 343 343 00:09:00,220 --> 00:09:01,410 You know who are they. 344 344 00:09:01,420 --> 00:09:03,009 So you're going to you're going 345 345 00:09:03,010 --> 00:09:04,869 to market differently 346 346 00:09:04,870 --> 00:09:07,059 to a different group of people for example 347 347 00:09:07,060 --> 00:09:08,829 genius mushrooms is a very 348 348 00:09:08,830 --> 00:09:10,629 different group of people compared to 349 349 00:09:10,630 --> 00:09:11,799 some of these other ones. 350 350 00:09:11,800 --> 00:09:13,299 All right. Now I want to show you guys 351 351 00:09:13,300 --> 00:09:14,889 what it would look like if 352 352 00:09:14,890 --> 00:09:16,470 a market is full. 353 353 00:09:16,570 --> 00:09:18,210 OK. So you 354 354 00:09:18,340 --> 00:09:20,910 there's really not much room for differentiation. 355 355 00:09:21,100 --> 00:09:22,659 So that is going to look 356 356 00:09:22,660 --> 00:09:24,339 like this. So if we take 357 357 00:09:24,340 --> 00:09:26,160 a look. Silicone Baking that 358 358 00:09:26,170 --> 00:09:27,930 the way that I can tell is if 359 359 00:09:28,000 --> 00:09:29,430 all of the results 360 360 00:09:29,980 --> 00:09:31,740 are generally the same thing. 361 361 00:09:32,380 --> 00:09:33,729 I really have no way to come in 362 362 00:09:33,730 --> 00:09:35,229 and differentiate that chose 363 363 00:09:35,230 --> 00:09:35,840 me assigned. 364 364 00:09:35,980 --> 00:09:37,860 So reviews aside 365 365 00:09:38,230 --> 00:09:39,120 and everything. 366 366 00:09:39,190 --> 00:09:40,779 If if all the results 367 367 00:09:40,780 --> 00:09:42,399 are similar like that 368 368 00:09:42,400 --> 00:09:44,049 that's clearly what the market wants 369 369 00:09:44,050 --> 00:09:44,919 for that keyword 370 370 00:09:44,920 --> 00:09:46,110 and that product group. 371 371 00:09:46,180 --> 00:09:47,709 So I you know unless I 372 372 00:09:47,710 --> 00:09:49,050 have some great way. 373 373 00:09:49,090 --> 00:09:50,619 So I would look at my checklist. 374 374 00:09:50,620 --> 00:09:51,999 Let's say what. 375 375 00:09:52,000 --> 00:09:53,140 What have we got. There 376 376 00:09:53,500 --> 00:09:55,830 is a better assortment. 377 377 00:09:55,840 --> 00:09:57,369 Well you know they have 378 378 00:09:57,370 --> 00:09:58,179 one two 379 379 00:09:58,180 --> 00:09:59,910 and three so 380 380 00:10:00,080 --> 00:10:01,629 in and it looks like everybody 381 381 00:10:01,630 --> 00:10:03,159 just wants a silicone baking mat 382 382 00:10:03,160 --> 00:10:04,080 at the end of the day. 383 383 00:10:04,150 --> 00:10:05,430 They are already covered 384 384 00:10:05,670 --> 00:10:07,269 and there's already assortments 385 385 00:10:07,270 --> 00:10:08,250 and colors. 386 386 00:10:08,450 --> 00:10:10,119 There's already that like 387 387 00:10:10,120 --> 00:10:11,919 maybe there's maybe 388 388 00:10:11,920 --> 00:10:13,359 I could go with size here 389 389 00:10:13,360 --> 00:10:15,240 but I'm guessing that 390 390 00:10:15,310 --> 00:10:17,400 you know I don't know how much beneficial 391 391 00:10:17,530 --> 00:10:19,029 a giant one 392 392 00:10:19,030 --> 00:10:20,649 is. But maybe this one 393 393 00:10:20,650 --> 00:10:21,780 is right there. 394 394 00:10:22,570 --> 00:10:24,150 I'm not sure exactly. 395 395 00:10:24,400 --> 00:10:26,049 Now I guess that this one did actually 396 396 00:10:26,050 --> 00:10:27,729 a pretty good job so they add 397 397 00:10:27,730 --> 00:10:29,379 on a nice design onto that. 398 398 00:10:29,380 --> 00:10:30,999 So if I'm thinking like 399 399 00:10:31,000 --> 00:10:32,430 if I was a professional 400 400 00:10:32,800 --> 00:10:34,629 baker or now this one kind of reaches 401 401 00:10:34,630 --> 00:10:35,319 out to me. 402 402 00:10:35,320 --> 00:10:37,389 So they did a good job of differentiating 403 403 00:10:37,390 --> 00:10:39,339 by knowing who their customer 404 404 00:10:39,340 --> 00:10:39,930 was. 405 405 00:10:40,090 --> 00:10:41,529 OK so you know the 406 406 00:10:41,530 --> 00:10:43,710 but different sizes already covered 407 407 00:10:44,070 --> 00:10:45,009 the assortment. 408 408 00:10:45,010 --> 00:10:46,200 We can't really do that. 409 409 00:10:46,300 --> 00:10:47,799 I don't really know how we're going to have a 410 410 00:10:47,800 --> 00:10:49,359 premium one if they're all 411 411 00:10:49,360 --> 00:10:50,829 essentially the same type. 412 412 00:10:50,830 --> 00:10:52,599 Maybe I could make some revolutionary 413 413 00:10:52,600 --> 00:10:53,880 one. But if these work 414 414 00:10:53,920 --> 00:10:55,470 and they're cheap like you know 415 415 00:10:55,510 --> 00:10:57,039 I just don't see what color 416 416 00:10:57,040 --> 00:10:58,899 that's already taken the features where 417 417 00:10:58,900 --> 00:11:00,570 you can add to this you know like 418 418 00:11:01,000 --> 00:11:02,559 I don't know what I would really add. 419 419 00:11:02,560 --> 00:11:04,320 What else is there design 420 420 00:11:05,310 --> 00:11:06,629 it's a flat map. 421 421 00:11:06,630 --> 00:11:08,239 You know I just don't see there 422 422 00:11:08,240 --> 00:11:09,819 in the design aesthetic. 423 423 00:11:09,820 --> 00:11:11,369 Somebody has already done that more 424 424 00:11:11,370 --> 00:11:12,329 effective solution. 425 425 00:11:12,330 --> 00:11:14,180 I don't know that I'm going to revolutionize 426 426 00:11:14,310 --> 00:11:15,800 a silicone baking mat 427 427 00:11:16,290 --> 00:11:17,879 and then better marketing the customer that 428 428 00:11:17,880 --> 00:11:19,469 guy already did it. 429 429 00:11:19,470 --> 00:11:21,089 And you know how many professionals are actually 430 430 00:11:21,090 --> 00:11:22,499 buying these. Only the research end 431 431 00:11:22,500 --> 00:11:24,239 but you know this would be an example 432 432 00:11:24,240 --> 00:11:26,030 of somewhere where I would just be 433 433 00:11:26,070 --> 00:11:27,620 sticking away because 434 434 00:11:29,350 --> 00:11:30,909 I mean it looks it's filled out 435 435 00:11:30,910 --> 00:11:32,529 OK. When when when they're all 436 436 00:11:32,530 --> 00:11:33,750 very similar 437 437 00:11:33,790 --> 00:11:35,619 but then like all these options 438 438 00:11:35,620 --> 00:11:36,540 have been taken 439 439 00:11:37,300 --> 00:11:38,919 I would be getting out of that. 440 440 00:11:38,920 --> 00:11:40,599 But let's say one 441 441 00:11:40,600 --> 00:11:42,900 where there is ability to differentiate. 442 442 00:11:43,190 --> 00:11:45,039 So right here we have wedding gifts. 443 443 00:11:45,040 --> 00:11:45,510 OK. 444 444 00:11:46,030 --> 00:11:47,850 Do you see the variety, 445 445 00:11:48,260 --> 00:11:49,969 oh did 446 446 00:11:49,970 --> 00:11:51,929 you. I want 447 447 00:11:51,930 --> 00:11:53,600 everybody to look at the variety of the results 448 448 00:11:53,680 --> 00:11:56,759 because that shows you there 449 449 00:11:56,760 --> 00:11:58,589 is room for innovation and differentiation that 450 450 00:11:58,590 --> 00:12:00,479 the whatever 451 451 00:12:00,480 --> 00:12:01,979 people are looking for it is not solved 452 452 00:12:01,980 --> 00:12:02,840 yet. OK. 453 453 00:12:02,910 --> 00:12:03,229 All right. 454 454 00:12:03,230 --> 00:12:04,749 So as we're looking here I mean there's 455 455 00:12:04,750 --> 00:12:06,389 clearly 456 456 00:12:06,390 --> 00:12:08,259 people like glasses but you 457 457 00:12:08,260 --> 00:12:09,989 know they have mugs. They have class glasses 458 458 00:12:09,990 --> 00:12:11,639 but basically the whole theme 459 459 00:12:11,640 --> 00:12:13,649 here is they want matching 460 460 00:12:13,650 --> 00:12:15,479 things or anything 461 461 00:12:15,480 --> 00:12:16,700 to do with their new relationship. 462 462 00:12:16,850 --> 00:12:18,929 So look there's even literally 463 463 00:12:18,930 --> 00:12:20,729 a card there is 464 464 00:12:20,730 --> 00:12:22,499 a greeting card. You know nothing 465 465 00:12:22,500 --> 00:12:23,379 is the same here 466 466 00:12:23,380 --> 00:12:24,899 but yet there 467 467 00:12:24,900 --> 00:12:26,859 is some. Yeah there's there's 468 468 00:12:26,860 --> 00:12:28,589 some pretty good revenue here. And 469 469 00:12:28,590 --> 00:12:30,359 there's definitely room 470 470 00:12:30,360 --> 00:12:30,620 for differentiation. 471 471 00:12:32,500 --> 00:12:34,709 So if you had a good idea for a wedding gift that 472 472 00:12:34,710 --> 00:12:36,509 could move enough volume you could innovate 473 473 00:12:36,510 --> 00:12:37,880 and rank properly 474 474 00:12:37,930 --> 00:12:39,800 and you could get into this market. 475 475 00:12:40,130 --> 00:12:41,619 So this would be something. 476 476 00:12:41,620 --> 00:12:44,290 I mean granted reviews 477 477 00:12:44,310 --> 00:12:45,839 aren't too bad actually. And that's 478 478 00:12:45,840 --> 00:12:47,270 the other thing when there is room like. 479 479 00:12:47,820 --> 00:12:49,100 So I talk about reviews a lot 480 480 00:12:49,720 --> 00:12:51,719 but when you look at this market you 481 481 00:12:51,720 --> 00:12:53,399 don't particularly 482 482 00:12:53,400 --> 00:12:53,650 need. 483 483 00:12:54,610 --> 00:12:56,159 You don't 484 484 00:12:56,160 --> 00:12:58,919 particularly need the most reviews because 485 485 00:12:58,920 --> 00:13:01,070 if you do something different you're the only one that 486 486 00:13:01,180 --> 00:13:02,630 is the only solution. 487 487 00:13:03,280 --> 00:13:04,919 So as long as it meets a certain criteria that 488 488 00:13:04,920 --> 00:13:06,409 people like can be trusting 489 489 00:13:06,410 --> 00:13:07,760 that it's a good quality there. 490 490 00:13:07,770 --> 00:13:09,959 You know for 491 491 00:13:09,960 --> 00:13:11,919 example a gift is very personalized 492 492 00:13:11,920 --> 00:13:14,170 and you want it. It's 493 493 00:13:14,340 --> 00:13:15,989 a representation of yourself. Well 494 494 00:13:15,990 --> 00:13:17,639 it's serving 495 495 00:13:17,640 --> 00:13:19,639 the utility of giving a gift. It's a you know it 496 496 00:13:19,640 --> 00:13:20,660 is that representation of yourself. 497 497 00:13:20,800 --> 00:13:22,660 So people 498 498 00:13:24,630 --> 00:13:25,649 will want to be more willing to go out on a limb for 499 499 00:13:25,650 --> 00:13:26,859 something that is even higher priced 500 500 00:13:26,860 --> 00:13:28,640 and more different. 501 501 00:13:28,760 --> 00:13:30,239 If it if 502 502 00:13:30,240 --> 00:13:32,000 it meets their needs the best out of all these solutions. 503 503 00:13:32,040 --> 00:13:33,980 So that's 504 504 00:13:34,120 --> 00:13:34,730 where. 505 505 00:13:35,100 --> 00:13:36,069 So lastly like 506 506 00:13:36,070 --> 00:13:37,610 with Eclipse goggles. 507 507 00:13:37,820 --> 00:13:39,930 That was an 508 508 00:13:40,320 --> 00:13:40,570 example where I was able to differentiate. 509 509 00:13:40,840 --> 00:13:42,449 I had several of those criteria 510 510 00:13:42,450 --> 00:13:44,090 and it was within the keyword. 511 511 00:13:44,270 --> 00:13:46,870 And it worked. So you 512 512 00:13:46,970 --> 00:13:48,820 know there's 513 513 00:13:48,930 --> 00:13:50,270 a whole spectrum of ways that you can differentiate. 514 514 00:13:50,930 --> 00:13:52,739 So in the end there's a lot of ways that 515 515 00:13:52,740 --> 00:13:53,630 you can differentiate your product. 516 516 00:13:53,850 --> 00:13:56,480 And I think now going 517 517 00:13:56,580 --> 00:13:57,930 into the future to stay competitive you've got to do 518 518 00:13:57,931 --> 00:13:59,429 something to differentiate. 519 519 00:13:59,430 --> 00:14:01,679 And I guess the 520 520 00:14:01,680 --> 00:14:03,089 last one that I didn't talk about is you could just be 521 521 00:14:03,090 --> 00:14:04,739 you could 522 522 00:14:04,740 --> 00:14:05,749 just have cash you get cash 523 523 00:14:05,750 --> 00:14:07,289 and really good marketing 524 524 00:14:07,290 --> 00:14:07,540 team. 525 525 00:14:08,010 --> 00:14:09,779 By that I mean you're really good at making images 526 526 00:14:09,780 --> 00:14:11,309 and listening and you're 527 527 00:14:11,310 --> 00:14:13,319 confident in your ability to outrank the 528 528 00:14:13,320 --> 00:14:15,029 other people. And you're just a more advanced 529 529 00:14:15,030 --> 00:14:15,280 seller. 530 530 00:14:16,250 --> 00:14:18,599 But my guess is if you're watching this you're 531 531 00:14:18,600 --> 00:14:20,549 probably not at that point because those 532 532 00:14:20,550 --> 00:14:22,769 people aren't and probably 533 533 00:14:22,770 --> 00:14:24,899 not watching this video. So I 534 534 00:14:24,900 --> 00:14:26,489 hope that this is helpful and that you guys go 535 535 00:14:26,490 --> 00:14:29,100 out and actually put in 536 536 00:14:29,520 --> 00:14:30,659 time to do something different in your market 537 537 00:14:30,660 --> 00:14:32,159 and give 538 538 00:14:32,160 --> 00:14:33,199 yourself that competitive edge. 539 539 00:14:33,200 --> 00:14:34,130 That's where you're gonna get. 540 540 00:14:34,540 --> 00:14:36,749 Not only be 541 541 00:14:36,750 --> 00:14:38,699 have a better chance at 542 542 00:14:38,700 --> 00:14:40,500 not 543 543 00:14:41,100 --> 00:14:42,060 only are you going to have a better chance at being 544 544 00:14:42,061 --> 00:14:44,399 successful you're actually going to be solving 545 545 00:14:44,400 --> 00:14:45,399 a market that isn't 546 546 00:14:45,400 --> 00:14:47,339 or you're 547 547 00:14:47,340 --> 00:14:49,049 actually going to be solving a need in the market that 548 548 00:14:49,050 --> 00:14:49,460 hasn't been solved yet. 549 549 00:14:49,710 --> 00:14:51,710 So people 550 550 00:14:51,840 --> 00:14:52,479 are going to like your company more because it's 551 551 00:14:52,480 --> 00:14:54,239 like wow. Hey that was all that 552 552 00:14:54,240 --> 00:14:56,039 was good. Like that 553 553 00:14:56,040 --> 00:14:57,749 was the only thing that like this is the only one that met 554 554 00:14:57,750 --> 00:14:58,310 my needs there. 555 555 00:14:58,480 --> 00:14:59,930 So I thank you for doing that. 556 556 00:15:00,080 --> 00:15:00,920 Thank you for making it. 557 557 00:15:01,020 --> 00:15:03,360 So that's how you gonna 558 558 00:15:03,390 --> 00:15:05,069 get more engaged and thankful 559 559 00:15:05,070 --> 00:15:07,799 fans as well. So I mean if you just had a little 560 560 00:15:07,800 --> 00:15:09,649 bit better of a silicone baking spoon I 561 561 00:15:09,650 --> 00:15:11,330 just wear like 562 562 00:15:11,350 --> 00:15:13,739 how many of those when 563 563 00:15:13,740 --> 00:15:14,609 you buy something utilitarian that was the same as 564 564 00:15:14,610 --> 00:15:16,499 everything else. But I would just don't 565 565 00:15:16,500 --> 00:15:17,989 think the best option is do you really 566 566 00:15:17,990 --> 00:15:19,100 ever remember that company. 567 567 00:15:19,330 --> 00:15:20,750 At least I don't maybe. 568 568 00:15:21,650 --> 00:15:23,369 No I mean I guess the anchor is 569 569 00:15:23,370 --> 00:15:24,089 the only one that I really do. 570 570 00:15:24,090 --> 00:15:25,869 But anyways 571 571 00:15:25,870 --> 00:15:28,300 regardless if 572 572 00:15:28,650 --> 00:15:30,149 you guys have other ideas of how to differentiate let 573 573 00:15:30,150 --> 00:15:31,319 me know. Well let's leave on below. 574 574 00:15:31,320 --> 00:15:33,749 OK but 575 575 00:15:33,750 --> 00:15:34,619 this is a very important factor and don't overlook it 576 576 00:15:34,620 --> 00:15:35,370 onto the next one. 43087