In high school, (perceived) success was all about fitting in. In business, it’s all about standing out. But whether you’re on the way to prom or pitching your next big idea, authenticity is key. Dressing the part or repeating industry buzzwords is fine. But if that’s all you’re doing, you aren’t fooling anyone.
With that in mind, we asked three NYC tech leaders how they differentiate their brand and product from the competition.
Clinical trial participation is often more nerve-wracking than long-awaited. And yet, such trials are necessary to move medicine forward. Like so many things in life, the difference between a comfortable and uncomfortable experience comes down to the people. TrialSpark’s CTO and Co-founder Linhao Zhang keeps that in mind when hiring engineers to help fast-track medical advancement.
What strategies has your company implemented to stand out from competitors in your industry?
We believe that investing in a strong, high-performing engineering culture is one of our biggest advantages in our industry. The operations of our industry are complex, filled with manual workflows and processes. We keep an eye out for automation in everything we do. Building a strong engineering foundation allows us the greatest leverage in achieving our long-term mission, which is to bring treatments to patients faster and more efficiently.
We keep an eye out for automation in everything we do.’’
What advice would you offer to startup founders or startup-founders-to-be to help them differentiate their companies/products?
One of our company values is thinking in first principles (basic assumptions that cannot be deduced any further). We believe it is incredibly important to interrogate our decisions from the ground up, especially when playing in an industry that is rife with outdated processes. We are looking to push the envelope, and we do so by focusing on the principles we believe are right, independent of how other companies in our space operate.
Talkspace’s approach to differentiating their product from the competition may be traditional (and effective), but the product itself is anything but. The company connects licensed therapists to patients online. We recently spoke to Oren Frank, their CEO, who told us that when it comes to creating a demand for a particular service, success comes down to honing in on long-term quality sustainability.
What strategies has your company implemented to stand out from competitors in your industry?
Relentless focus on two major items throughout the organization: the quality of our product and the quality of our culture. Once you have an idea or a problem you want to solve, it all becomes a question of delivering the goods or execution.
Focusing on the quality of your product, whether a service, a physical good, a piece of code or an experience, is always going to be a differentiator in the long run. Your organization’s culture determines your ability to both create the product you seek and also to sustain its quality over time.
Focus, focus, focus, and then some more focus.’’
What advice would you offer to startup founders or startup-founders-to-be to help them differentiate their companies/products?
Focus, focus, focus, and then some more focus. Find the one thing you love and dedicate all of your and your team’s superpowers to it until you do it so well, you’re shocked, awed and blushing at how good it is.
Resident's Chief of Staff Scott McLeod isn’t sleeping on consistent iteration. While the direct-to-consumer company may have started out selling mattresses –– a home good essential to be sure –– they have expanded their reach thanks to data-driven initiatives.
A quality product puts you on the playing field. Frequently reassessing your value proposition keeps you in the game.
What strategies has your company implemented to stand out from competitors in your industry?
Unlike other digitally native companies that focus on building one brand, we realized that creating a house of brands that serve a singular consumer need offered customers more choices while increasing our overall market share. We’ve leveraged a data-driven approach to our marketing and product development. Doing so has helped us launch and market products with effectiveness.
Our unique strategy has eliminated the one-size-fits-all approach to sleep comfort and provides consumers with targeted solutions while ultimately expanding our market share. Our learnings in selling sleep have positioned us to expand beyond the bedroom. Our furniture and accessories cater to different consumer needs throughout the entire home. We have a multi-year vision to bring other products to the marketplace, as well as expanding products for our existing brands.
We’ve leveraged a data-driven approach to our marketing and product development.’’
What advice would you offer to startup founders or startup-founders-to-be to help them differentiate their companies/products?
Focus on providing a strong value proposition that beats out your competitors both in price and value. Focus on hiring the right people to help execute against your vision.
