Legends & Losers - Motivational & Inspirational Stories With an Edge

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023: Entrepreneur Roundtable: How to Design & Dominate Your Category w/Rhonda Smith - Part 1

April 20, 2017

People in business make an unconscious choice to attack an existing space, market or category. Why is this the wrong way to go about things? Is your business marketing to an existing space or category? What do you miss out on when you take this approach? On this special episode of Legends and Losers, we are joined by Rhonda Smith and other entrepreneurs for a mindset on utilizing category design in your business and how you sell yourself short when you don’t use it. You’ll learn how you can start using it today to improve your business.

This book changed my life, I don’t mean it changed my business, it changed my life as well as my business – Rhonda Smith

Takeaways

  1. Category design for a niche services business is fundamentally about making the skill gap as wide as possible.
  2. Categories make brands, not the other way round.
  3. You have to decide what you want to share and what you don’t and no matter what you do, you have to make it really authentic.

In this episode we began by discussing what category design is by showcasing some examples of companies using it to their advantage. We then went on to discuss personal branding and how important it is to be authentic in your branding and advertising. Next, we talked about the importance of category design in branding and how branding without category design is a bad idea. Later in the show, we discussed how someone can become legendary and design a legendary category. We shared on the success of CEO of Salesforce, Mark Benioff and how companies like Netflix have created their own categories by marketing new problems to people that they didn’t know they had. We finished off by discussing the importance of not selling yourself short.

We also shared insights on;

  • The book ‘Play Bigger’.
  • How to differentiate yourself from everyone else.
  • Whether it is possible to be successful without being 100% authentic.
  • Whether money and resources are the key to category design.
  • Tips for smaller businesses.

Every product or service that we love exists because a legend executed the magic triangle; company design, product design and category design. They are all equally important and many people in business don’t even understand what category design is or how best to utilize it. You can see great examples of category design through the ages, like Henry Ford marketing the car as a horseless carriage. In many ways the category is in the context of what it isn’t because we understand a prior category. The most important feature of category design is marketing the problem, not the solution. Categories make companies. Categories make careers.

Guest Bio

Rhonda Smith is a leading Lifestyle Architect and Success Coach for men and women who are ready to stop feeling stuck in the life that they are living and are ready to design a life that they love. Go to Cosmicsmith.com for more information.

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