The growth of a goldfish is a metaphor for growth in business and the importance of differentiation.
The average common goldfish is just over 3 inches. Yet the largest in the world is nearly 19 inches. That’s almost six times the average size! For comparison, imagine walking down the street and bumping into someone who is three stories tall.
How can there be such a disparity between regular goldfish and their monster cousins? Well, it turns out that the growth of the goldfish is determined by 5 factors. Just like goldfish, not all businesses grow equally. The growth of a business is impacted by the same 5 factors:
1. SIZE OF THE ENVIRONMENT = MARKET
GROWTH FACTOR: The size of the bowl or pond
2. OTHER GOLDFISH = COMPETITION
GROWTH FACTOR: The number of goldfish in the same bowl or pond
3. QUALITY OF THE WATER = ECONOMY
GROWTH FACTOR: The clarity and amount of nutrients in the water
4. FIRST 120 DAYS OF LIFE = STARTUP PHASE
GROWTH FACTOR: The treatment received as a baby goldfish
5. GENETIC MAKEUP = DIFFERENTIATION
GROWTH FACTOR: The genetic makeup of the goldfish
Takeaway: In business, the only thing you have control over is your genetic makeup or how you differentiate your products or services. In goldfish terms, how do you stand out in a sea of sameness?
Stan Phelps walks the walk. He stands out in the sea of sameness by modeling his own Differentiated Experience (DX) message: Differentiation isn’t just about what you say, it’s about what you do and, more importantly, how and why you do it. Stan leverages his unique collection of 5,000+ case studies on customer, employee, and brand experience to engage audiences with informative learning-based experiences. He believes purposeful DX wins the hearts of employees and customers, and differentiation ultimately boosts loyalty, retention, referrals, and results.
Find Stan’s in-person and virtual keynotes, workshops, and Goldfish tank programs at StanPhelps.com.