Summary
The video discusses a fundamental shift in how information flows and spreads in today’s digital age, emphasizing the critical importance of leveraging this change to create business success. The speaker contrasts two approaches to product and service creation: one that is ineffective—making average products for average people, and one that is highly effective—making remarkable products for people who care deeply.
Key Insights
- Information Flow as a Core Driver: The ease of accessing and sharing information today drastically alters how products and services gain visibility, awareness, and word-of-mouth promotion, which directly impacts sales and revenue.
- Ineffectiveness of Targeting the Masses:
- The traditional approach of creating average, generic products aimed at broad mass markets fails because individuals within the masses have diverse, unique preferences.
- Averaging these diverse demands leads to boring, meaningless products that no individual truly values or talks about.
- Power of Remarkable Products for People Who Care:
- Creating unique, meaningful, and remarkable products or services for niche groups who care deeply leads to natural enthusiasm and organic word-of-mouth.
- Example: A standard $15 chess piece versus a $400-$500 designer Manray chess set. The latter becomes a topic of conversation, a signifier of identity, and a product people are willing to wait months for, reflecting its remarkable status.
- Economic and Strategic Advantages:
- Remarkable products enable businesses to charge premium prices with higher margins (e.g., 90% margin vs. 50%).
- This allows investment in talent, design, and innovation rather than competing on volume and price.
- It attracts not only customers but also motivated employees who believe in the core purpose and mission behind the product or service.
- Competition Becomes Irrelevant:
- When serving people who deeply care, price competition diminishes because the needs fulfilled are unique and cannot be met by cheaper alternatives.
- Shift in Business Mindset:
- Instead of waiting to be chosen as a convenient, average option, businesses must actively define and serve the people who care deeply about what they offer.
- This approach builds true evangelists and loyal communities, rather than a broad, indifferent customer base.
- Addressing the Fear of a Smaller Market:
- Serving a smaller, passionate group is not limiting because:
- Businesses already miss out on many customers when serving the masses.
- The passionate niche creates stronger advocacy and engagement.
- The number of people who care in a local area usually exceeds what a practice or business needs to thrive by factors of ten or more.
- Remarkable offerings also tend to attract customers beyond local boundaries.
- Practical Application and Next Steps:
- Businesses should start by assessing who they are currently serving and how they can shift to serving those who care deeply.
- This shift unlocks benefits such as premium pricing, better talent, and scalable growth through word-of-mouth.
- The speaker offers a free course (specifically referenced for dentistry) to apply these concepts in practice.
Timeline of Core Concepts
| Time Range | Topic |
|---|---|
| 00:00 – 01:06 | Shift in information flow and its business impact |
| 01:07 – 02:52 | Why average products for average people fail due to diverse individual preferences |
| 02:53 – 04:45 | Example of remarkable vs. average product: designer chess set vs. standard chess piece |
| 04:46 – 06:00 | Economic benefits of remarkable products and premium pricing |
| 06:01 – 07:39 | Necessity of serving people who care deeply, not the masses |
| 07:40 – 09:24 | Addressing fears of smaller market size and the benefits of deep engagement |
| 09:25 – 10:41 | Scale advantages and final call to action to assess and serve people who care |
Definitions and Comparisons
| Term/Concept | Description | Example/Comparison |
|---|---|---|
| Average Product | Generic offering designed to appeal to the broad masses, resulting in low engagement | $15 standard chess piece |
| Remarkable Product | Unique, meaningful offering aimed at a niche audience who deeply cares | $400-$500 Manray designer chess set |
| Mass Market | Large, diverse group with varied individual preferences | Broad population |
| People Who Care | Smaller, passionate audience with specific desires and values | Chess enthusiasts valuing design and craftsmanship |
| Price Competition | Competing primarily on cost, often leading to thin margins and commoditization | Selling many $15 pieces to match competitors |
| Premium Pricing | Charging higher prices due to unique value, resulting in high margins | Selling fewer designer chess sets at high margin |
Core Conclusions
- The new business paradigm demands focusing on meaning and depth rather than breadth and convenience.
- Remarkable products for people who care leverage modern information flows for organic growth and sustainable economics.
- Serving the masses leads to mediocrity and invisibility, whereas serving passionate niches creates evangelism and competitive immunity.
- Fear of smaller market size is unfounded because depth of engagement creates scale and economic sustainability.
- Businesses must proactively identify and serve their core customers who care to thrive in the current era.
Keywords
- Information flow
- Remarkable products
- Niche market
- Word-of-mouth
- Premium pricing
- Customer evangelism
- Market differentiation
- Deep engagement
- Competitive advantage
- Business sustainability
00:00:00
One of the fundamental shifts we’re seeing is how information flows, how it spreads, how easy it is to transmit information, to find information, to access information, to search for it. And the people who benefit from this, the people who are successfully able to leverage this new flow of information find their products and services at the center of the spreading of information. And so obviously all the benefits that come from that visibility, awareness, word of mouth, more sales, more revenue,
00:00:33
etc. and etc. So how can we start to leverage this for yourself? There’s two ways of approaching this. One that works, one that doesn’t work. The one that doesn’t work is to create average products and services for average people. So let me break down why that is and what that means. Average people means masses. Are you out there trying to appeal to as many people as possible? Are you out there trying to be the convenient choice for whoever wants you? Because what we find is that that doesn’t work
00:01:11
today. Because of this access to information, this flow of information, each individual person that makes up the mass wants completely different things. you probably care about something completely different than your next door neighbor. Whereas in the past, communities would more or less care about more similar things. And so what happens is we get this diverse group of people that each individually make up the masses. And when we get the average of that, when we try to figure out what do the masses want, we get something that’s
00:01:45
very boring and very meaningless. And then we create an average product or an average service that fulfills boring and meaningless and we try to sell it to each of the individual people who want very unique things. So it doesn’t work. There’s a complete mismatch between mass and the individual. The alternative approach is to create remarkable products, remarkable services for people who care, right? not average products and average services for the average people, but remarkable products
00:02:21
and services for people who care. So, to illustrate, I have a chessboard in the background. Um, I play a lot of chess and I also have a standard chess piece and a Manray designer chess piece. The standard chess piece you could probably find on Amazon for about $15 and it’s probably for people who are either getting into chess or just want a chessboard chess set to play. It’s for people it’s an average product for average people. Whereas the Manray is a designer chess piece and this probably
00:02:59
goes for around $400 or $500 for the set. And when you create remarkable products like this, what you get is to you get to leverage the flow of information. Now when someone comes over, I’m talking about the Manray chest piece. I’m talking about my chessboard because it’s a signifier. It’s meaningful to me. And we talk about things that are meaningful to us. Another thing is that for other people who care for other people who care about chess, this becomes the product that we talk about. It’s not the standard $15
00:03:39
Amazon chessboard. This will never be talked about. If you go on online, like there will be no discussion about this. There will be forums, threads and threads and threads about this chess set. So that is how we leverage the new flow of information. We create remarkable products and services for people who care. And there’s so many other benefits that come with it. I’m willing to wait four months to have a custom chessboard manufactured from Greece and shipped over and wait another two weeks to have this thing because I
00:04:12
care about it and it’s a remarkable product. I’m willing to go through hoops. So there’s that analogy for you. Who are your patients? Who are the people you’re seeking to serve? And how can you create something so that they are happily making the 2-hour drive to visit you or happily paying you more than the other competitors? Because when you understand what you’re actually here to fulfill and when you can become remarkable to those to what those people care about and their desired feelings,
00:04:40
competition is not a factor. that even if even if people are quoting lower prices than you, you’re fulfilling a need that they never could. So that’s another shift. Another shift is well adding on to that idea of price competition is that you can charge a premium. This the margins here are probably north of 90%. This is probably around 50%. It’s still probably good because it’s plastic, but when I sell one of these, I need to sell probably around 90 of these in order to make the same. So, the economics
00:05:21
completely change. The the you’re no longer serving volume. You get more margin. Now, you can spend more money on designers, on better talent, on people to grow your business and not just people who come in and work the system that you’ve created for them. Right? This has art behind it. It has a group of people who find it meaningful and you can create a team who push the movement forward. And we see this a lot in other remarkable products, other remarkable companies who are able to attract talent
00:05:52
not just because of the money but because there is a core purpose behind it. Simon Synynics start with why comes down to a lot of it creating remarkable products and services for people who care. It’s the caring aspect that starts. So to leverage all these benefits of information flow, removing yourself from price competition, having people who are enthusiastically going through hurdles to come and visit you. It unlocks so many things that this isn’t a way of being that can be ignored anymore that
00:06:27
we have to start with. First, our foundation must be who is it for? Are we here to serve average? Are we here to be the other option when people want something convenient? Because if we’re just waiting to be picked, hoping that someone comes along and then hoping that we’re the best choice for that person’s specific situation, that’s way too risky. We’re waiting on conditions to arrive that may never will. So the alternative is to find and create people who care to be to serve those who
00:07:04
care deeply and to serve them deeply because when you do you reap all the benefits there. So the fundamental question that you should be asking is how are we showing up? Are we showing up to serve the masses or are we showing up deeply for a group of people who care which is naturally going to be smaller? And a fear is that if we move away from masses and move towards people who care, a smaller group of people, a natural fear is that we are going to miss out on a lot of the market. There’s two things I want to say to
00:07:42
this. The first is you’re already missing out on a lot of the market that no matter how you show up, there’s always going to be people who don’t like you, that don’t like the way you’re doing things. It’s always going to be like that. And you’re still trying to appeal to the masses. So what happens is you already have detractors but you haven’t gone deep enough to create any people who are true evangelists, true fans who are talking about you online willingly because they want to. Whereas on the
00:08:14
other hand you get all those benefits. You actually create attraction. You create evangelism when you do go deeper. And now let’s talk about scale. So that was about depth but now scale. One of the exercises that I do in my course is that we take a look at scale. What we do is we find we we take a look at what the masses are. We take a look at the actual numbers and then we also take a look at the numbers that are people who care, people who would align with your way of being. And what we find
00:08:50
is that the people who care typically outnumber the actual people that you need as a practice or a business to thrive, it outnumbers it by like factors of tens. So even if you only attracted 10% of the people who cared, it would be way more than enough to sustain you. And this is in a small radius, a small 5 to 10 mile radius. We’re not even considering that once you become remarkable that you’re going to be attracting people way further around. Right? So, in terms of scale, there’s we find
00:09:26
there’s nothing to be worried about in terms of depth and how we attract people. We find there’s only benefits to be gained. Right? So this is a new approach and a new way of being that I urge you to start taking on because we’re living in a new era with new rules with new technology with new ways of transmission of information of word of mouth to be word of mouth is being supercharged and we don’t know how to take advantage of it. Right? So the first step is assessing who is it for?
00:10:01
Who are you currently doing it for? and how can you start to serve people who care more? All right, if you are in dentistry and if you want to apply these concepts to your practice to create a remarkable practice for patients who care, check out my course. It’s completely free. I’ll put it in the description. and I’ll see you guys in the next