The secret to making your business unique & priceless is Proffessor’s Secret Recipe.
This was a concept I thought I had conjured in my head, until it was validated by the blog and book, http://grandmas-secret-recipe.com/
In a nutshell the concept is this.
All businesses in a market segment have the same ingredients.
The differentiation comes with focus and increased elements in certain aspects.
So one may focus on sales, another on product development, another design, you get the drift.
And this becomes what we call the unique selling point. (USP)
But still there is always that secret recipe…. Professor’s Secret Recipe, that always is the secret sauce to an organisations success trail.
A clear and timeless example is the mystical Coke recipe. Everyone has heard of and been told the tale of how Cokes recipe for Coca Cola is a secret that has been handed down through the ages and guarded forever.
For Google it is their search algorithms that is tauted as their secret IP and recipe.
Think about Twitter, Facebook, Uber, Amazon, all these companies lay claim to some secret algorithm, criteria, strategy, that is their secret recipe to success, which is what gets them their stellar valuations.
Whether this recipe even exists or not is not a factor.
For you and your business to succeed and gain in valuation, you must have a component of your ingredient which is the mystical chemical X, which brings the magic to your business and that results in the results you have been having.
For some its in the service delivery that the chemical x is, some is in how the algorithms they use for customer categorisation, some it is in the pricing engine.
All in all they have this in common, beyond the sugar and spice and all things nice… a chemical x in the recipe that adds stellar value to the concept.
The book explains this concept in deep detail, but my summary is this:
For your business to gain in value,you must have, and always be seen to have and own intellectual property that is secret and exclusive that keeps the business going and gives it stellar value, whether it is real or not.
The book is available for free download on tokekruse.com