A few years ago, I went on a brand strategy course led by Professor Scott Galloway of NYU Stern.
The course was jam packed but there was one lesson I took that stands out in memory.
It is called ‘The Three Hurdles’ and is a fantastic framework that any digital nomad can use when they are starting their own online business.
I like to think of it as the foundational blocks that all other elements of your brand strategy can stem from.
So, what are the three ‘hurdles’ every brand must pass?
Hurdle One: Differentiation
The first ‘hurdle’ is why you are different.
As a digital nomad you may want to create a online fitness business, but what is going to make YOU different to all the other fitness coaches out there?
Or maybe you want to start an online copywriting company.
What will make you stand out?
You don’t have to be the first into a particular market — in fact, it’s often better to be a late joiner in an already established market where you know there is revenue and projected growth. There is a need for fitness coaches and copywriters.
But it is important you are able to succinctly explain in one sentence why YOU are different to the other online businesses out there. With founder led brands, online coaches and consultants, sometimes you are part of that difference.
Why are you the best person placed to deliver that service?
Hurdle Two: Relevance
The second ‘hurdle’ is why you are relevant.
This is where knowing your customer is key. You may be bringing something different to the market — but are you relevant?
Being different doesn't mean being relevant.
Let's say you start an online business in how to eat a tea-biscuit.
It’s different, but it’s not going to be relevant for most people.
Most people know how to eat a tea-biscuit (or don't care).
Relevance doesn’t mean you should appeal to all customers.
It’s far better to pick a niche and hone in on a specific target market. But you’ve got to make sure the niche doesn’t go too far the other way.
It should be small enough to allow you to focus, but big enough to create a successful business that could scale.
Hurdle Three: Sustainable
The third ‘hurdle’ is why you are sustainable.
In this context, sustainable means longevity.
How will you prevent another digital nomad or online business owner copying you?
This is where building ‘moats’ around your brand is key. Exclusive partnerships and affiliates that spread word of mouth will make it harder for other businesses to copy you.
Your personal brand is also what is unique to you - which is why you should consider taking steps to build it.
You may be different and relevant, but if you haven’t thought about the longer term sustainability of your online business, you may quickly get eaten up.
Closing Thoughts
The three hurdles can be applied to your online business - because a killer brand is essential for profitable online business growth.
If there is a hurdle that you struggle to articulate, chances are your brand needs to be more refined and clearer in that area.
This model can also be used when making other decisions in your business, for example when thinking about digital product launches or longer-term marketing campaigns.
Is what you are trying to do different, relevant, and sustainable?
Need help?
If you're an exisiting or aspiring digital nomad and need help with your online business, head to the ImagineThat website to learn more about what we do.
References and further reading
The Brand Strategy Sprint, run by Section4. https://www.section4.com/
Aaker on Branding: 20 Principles That Drive Success; Aaker, David; Morgan James Publishing; 2020
Differentiate or Die: Survival in Our Era of Killer Competition; Trout, Jack, Rivkin, Steve; 2010
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