Creating Your Own Market

If a personal injury lawyer’s firm places numerous billboards along the most dangerous sections of the highway, are they creating a market? Do the billboards add distractions during the most demanding portion of a driver’s journey, potentially contributing to more accidents? Are they developing a market by advertising to that market?

We can create markets by being present in locations where people have known and unknown needs. A resort where we vacationed had an extensive lagoon pool. The pool rental shack gave the first two sea kayaks of the day out for a free half-hour every morning. Experience revealed to the owner that guests seeing the kayaks or paddle boards in the lagoon would drive more rentals than waiting for somebody to commit to the day’s first transaction.

Simon Sinek has an insightful story about the rule of two in shoe sales. Reducing choices to two pairs of shoes versus three or more created a more profitable market. Adding limits can actually increase our impact.

How might we create our market by aligning our values and actions?

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