In a world where businesses come and go, standing out isn’t just a goal, it’s a necessity. The host of The Deep Wealth Podcast and post-exit entrepreneur Jeffrey Feldberg does a deep dive with Barry LeBov, a two-time Ernst & Young Entrepreneur of the Year and the CEO of LeBov Marketing. Barry reveals the art of differentiation. He emphasizes that differentiation is key for any company seeking long-term success. Differentiation helps you find your unique quality—the heartbeat of your brand that makes people remember you.
Do you ever wonder how some companies become world-famous while others stay stuck in the shadows? Meet Barry LeBov, an expert in turning ordinary businesses into extraordinary ones. Barry is a two-time Ernst & Young Entrepreneur of the Year and has worked with some of the world’s most recognized brands. His journey and insights hold the secret sauce for business success.
According to Barry, it’s more important than ever to identify what makes your brand different. “Why be like everybody else?” he says. Barry believes every person and company has a kind of magic, something unique. Finding that magic is crucial. “Why not look at what makes you unique, honor it, name it, and celebrate it?” he asks.
Barry’s story began not in a classroom or business meeting, but on stage with a band. At just 14, he played drums and wrote songs. This creative spirit didn’t rest in music alone. Eventually, he found his way into the business world, starting with a jingle business. Barry explains, “I joke that our band sold well under one million copies,” showing that not all success stories have fairy tale beginnings. This sense of humor and self-awareness is key to Barry’s approach to business.
After facing a family tragedy and a personal turning point, Barry gave himself permission to change direction. He realized his strength lay in helping businesses find what makes them special. “What do you really want to do?” he asked himself during a late-night walk. This led him to start Labov Marketing, a company known for its strong focus on brand differentiation.
Here’s how businesses can start on the path to differentiation. Barry’s strategy involves five steps.
Step One: Talk to Humans
Barry encourages business owners to talk to actual people. Conversations with customers, employees, and even former clients can reveal what makes your business special. This step is about understanding the human side of your business.
Step Two: Understand the Technical Side
Next, Barry suggests looking into the technical details of your products or services. This step is like looking under the hood to see what sets your company apart from the rest. It could be a special quality control process or a unique ingredient that makes you unique.
Step Three: Create a Plan
Once you understand what makes your business special and the technical wonders behind it, it’s time to create a plan. Barry emphasizes that this step is crucial before moving forward in execution.
Step Four: Execution
Execution might seem like the first step, but Barry advises to save this for later. Whether it’s a new slogan, a website, or a brand campaign, they should reflect the uniqueness you’ve discovered in steps one and two.
Step Five: Rally the Troops
Finally, the launch of your unique brand should start with your team. Barry shares, “Your employees, they need to be your army, your believers.”
Storytelling can transform your company from bland to exciting. Barry shares, “It is happening right now. The end result is part of it, but it’s our journey.”
Avoid the Commodity Monster
“Would you buy your own product?” asks Jeffrey Feldberg, host of the Deep Wealth Podcast, quoting one of Barry’s compelling questions. This question cuts to the heart of Barry’s philosophy: differentiation. It’s what makes you choose one company over another. Barry’s latest book, *The Power of Differentiation*, helps businesses find their unique voice.
Differentiation isn’t just about being different. It means knowing what makes your business special and telling that story well. Barry says, “Honor what you do that’s a little different.” This involves finding your company’s “magic,” as he puts it, and using it to your advantage.
Many business owners fall into what Barry calls the “commodity monster.” They settle for being like everybody else. They drop prices, reduce quality, and lose what makes them special. This is dangerous. Barry warns, “It takes the heart and soul out of your employees.”
Barry warns of the “perfect trap,” where companies wait for everything to be just right before acting. However, waiting can mean missing out. “Embrace getting progress. Imperfect can be amazing,” Barry suggests. Even a great song may start from a mistake, as he notes, linking back to his musical roots.
Acting and responding to feedback is more valuable than waiting for an unattainable ‘perfect.’ As Barry notes, “It’s not about being perfect. It’s about being sincere.” This is an insightful reminder that progress is better than perfection, encouraging entrepreneurs to take risks and embrace the learning process.
The Role Of Storytelling
Stories have a special power to connect with people. Barry emphasizes that storytelling is key to standing out. “The story’s important. The more we can engage our people, the more people are telling our story,” Barry says. Sharing these stories helps a company stand out in a crowded marketplace. It’s not about fancy slogans or slick logos. It’s about genuine connection and authenticity.
Barry believes that companies should celebrate what makes them unique, both with their customers and their employees. The employees are your first audience. If they believe in the company story, they’ll share it with others. “We jam,” Barry shares about his company culture, using a term that stands out far more than simply saying ‘we collaborate.’ It illustrates how a unique word can capture the essence of a company’s spirit.
Learning from Century-Old Companies
Some companies have been around for over 100 years. What can they teach us? Barry believes these companies still take things to heart. They view their work as personal and meaningful. Barry sees magic in combining tradition with innovation. “There is a reason you’ve been successful for 122 years,” he says.
Barry advises learning from companies that have stood the test of time. He says these century-old giants often make business personal. They are close to their customers and their roots, which helps them adapt and thrive. “Sometimes they are their own customer base,” Barry explains, showing the importance of understanding and valuing your community.
Celebrating your roots and using tried-and-true methods does not mean resisting change. It’s about leveraging what you do best and making it relevant for today. “You don’t need to be the best, just different,” Barry advises. This timeless wisdom is also a guiding principle for startups seeking a competitive edge.
Some companies have been around for over 100 years. What can they teach us? Barry believes these companies still take things to heart. They view their work as personal and meaningful. Barry sees magic in combining tradition with innovation. “There is a reason you’ve been successful for 122 years,” he says.
Looking Ahead and Embracing Change
AI technology is transforming how businesses operate today, but Barry insists that human stories and genuine connections will always matter. “AI can help inform, but the human aspect is irreplaceable,” he notes. In a rapidly changing world, staying connected to what makes your business unique remains crucial.
Embrace the power of storytelling, find your unique magic, and be genuine in every interaction. Barry LeBov reminds us that these simple yet profound actions can lead to extraordinary success. His inspiring story and insights encourage businesses to take the leap, find their voice, and reap the rewards.
Barry LeBov’s story is one of resilience. He didn’t become a successful entrepreneur overnight. Instead, he persevered through challenges and uncertainties. The key, Barry explains, is doing whatever it takes to stay in the race. This resilience is what separates the successful from those who drop out too soon.
“Every roadblock is just another opportunity to find a new path,” Barry shares. It’s this mindset that powers entrepreneurs to push past boundaries and innovate.
Failures aren’t the end. Instead, they are valuable lessons that shape the future. Barry recalls, “With every failure, I learned something new. Sometimes, what doesn’t work is as important as what does.” As entrepreneurs navigate their journeys, understanding what actions to avoid can be just as crucial as discovering successful strategies.
Entrepreneurship is rarely a straight path. Barry emphasizes the need to be flexible. “Plans change, markets shift, and what worked yesterday might not work today,” he advises. The ability to adapt to changes is a vital trait for any entrepreneur.
Passion is the fuel that keeps the entrepreneurial engine running. Without it, the journey would be too overwhelming. Barry asserts, “If you’re passionate about what you do, even the hard times are worth it.” This passion not only drives persistence but also inspires creativity and innovation.
Many wonder how AI will affect business differentiation. Barry believes human connection and authenticity are things AI can’t replicate. “AI might help inform ideas, but it’s the human element that counts,” he says.
Final Thoughts
Barry’s message to businesses is clear: “Focus on what you do best. Don’t try to please everyone.” By finding and celebrating what makes your business different, you will not only survive but thrive.
Standing out might seem overwhelming, but it’s really about understanding the heart of your business. Your next big breakthrough isn’t far away. It might just be one story, one strategy, or one step ahead.
In your entrepreneurial journey, don’t just dream—do. And as Barry puts it, honor your uniqueness and stay committed to highlighting what sets you apart. As we often say here, may you continue to thrive and prosper. Thank you for joining this journey, and always remember, what makes you different, makes you powerful.
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