Monday, March 12, 2012

Shave big money

Creating a successful business is simple. It requires just two steps.

1. Find the pain.
2. Fill the need.

Creating a remarkable business is hard. It requires three steps.

1. Find the pain.
2. Fill the need.
3. Have cojones.

Dollar Shave Club has all the appearances of becoming a remarkable business.

Michael Dubin and Mark Levine founded Dollar Shave Club on the pain that we've all felt when we've looked at that 4-pack of replacement blades with the $20 price tag on the peg at Target.

They've filled the need by sourcing their products factory-direct from China and Korea and selling only by on-line subscription to keep the price low.

But it's their fearless marketing that makes them remarkable and will ultimately lead to their success.

They've received nearly three million views and press all across the web on sites like Huffington Post, Time and many others. Let's face it, if they had just run a standard "Blades are expensive and we have a great new business that will help save you money" video, no one would have paid attention. How do I know this?

RazWar launched a nearly identical business in Belgium in 2009 with this video.

RazWar's low-key approach doesn't mean they aren't successful. They seem to be doing okay. They're just not remarkable.

If you want to create success in a world where Facebook can go from 0 - 750,000,000 users in just eight years, you'd better be remarkable. Because while others can copy your business model and find a way to make a product cheaper, a remarkable brand is the one competitive advantage no one can take away from you.

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