Law 26: Playing in the wrong market is costing you thousands

I am rereading Steven Bartlett’s Diary of a CEO, one law per day and this morning was Law 26, which is:

“Your skills are worthless, but your context is valuable.”

As always, I ruminate on everything I read in relation to brand, and this made me think about my clients. There are two reflections I want to share on this law – the first relates to target market.

Bartlett tells the story of Joshua Bell, one of the world’s greatest violinists. Bell did an experiment where he played six classical pieces on his $3.5 million violin in a New York subway station, all he earned was $50.

When he plays in the best concert halls in the world he earns millions.

The same violinist, with the same skill and the same $3.5 million violin.

The only thing that changed was the venue.

I work through this with founders all the time. What if you had the same offer, the same expertise, the same value – but you’re playing to the wrong market. Different markets place different values on the exact same expertise, and most founders don’t realise they’re performing in the subway when they should be on a concert hall stage.

I recently worked with a fitness coach who was talking to both mums and career-driven women in her marketing content.

When we looked at her revenue goals and the lifestyle she wanted to build, we refined her target market down to career-driven women. The coaching didn’t change, but the audience did.

This simple shift instantly increased the perceived value of her coaching as it was more aligned to her target audiences’ needs and desires, her messaging resonated more, and her brand had room to grow into what she’d always envisioned.

Now it’s your turn, I want you to think about this in relation to your own brand. Based on your revenue goals and what you actually want to charge, are you playing in the right market?

I know that you can always hustle harder, post more, and show up everywhere (why would you want to?) – but none of that effort will translate into the business you want. Because your skills or value aren’t the problem – the venue is.

This is how building your brand makes business feel easier – because we wrap what you do in the right context to get your brand working for you, instead of you doing all the work.

In the next email, I’ll share the second reflection I had from Law 26 – how you present your brand changes its worth.

P.S. If this is resonating and you’re ready to figure out where your brand actually belongs, my Build Your Brand in a Day Retreat on February 19th in Perth is designed exactly for this – getting crystal clear on who you serve, how you’re positioned, and what your brand stands for. I have only 2 spots left and I offer a 10-week payment plan (5 fortnightly payments of $480) to make this entirely possible for you to attend. Reply to join us?

Speak soon