There are hundreds if not thousands of yarn stores: why purchase wool at this one? There are multiple brands of knitting needles: how do you decide on those ones? Even when you narrow your choice down by material, length and style, there’ll still be a shortlist: which one will you choose?
If you’re a knitrepreneur, you’ll want your customer to make this decision based on your point of difference.
A point of difference is what sets you apart. What’s different about your business? Not what’s different about your product/s: that can easily change: you might be the only Chiao Goo dealership in town now… but maybe not next week! What is unique about your business? It might explain why you carry certain products and not others, but it doesn’t start there.
Ideally, your point of difference is linked to your Why: the driving purpose, the beating heart of your business. And you should be able to reel it off at market stalls and in business awards nights alike.
Each week on our podcast, The Knitrepreneurs, Jess and I discuss a business concept, and how it applies to our knitting ventures. We discussed the concept of ‘Why’ in episode 6, and episode 7, which we recorded last night and dropped on Spotify, YouTube, Apple and Amazon this morning, we discussed Point of Difference.
Jess spoke about how Yarn Train Victoria helps to connect people to place through knitting experiences and resources like her Yarn Trail Map. I spoke about Learning, and my expertise as a teacher informing the design of my products and services. But we neglected to discuss The Knitrepreneurs’ point of difference.
There are a LOT of knitting podcasts out there. Does the world really need another one? What makes The Knitrepreneurs different from all the others? Our point of difference is that we cut the crusts off business concepts and serve them to you in knitter-friendly serving sizes. We aren’t business gurus, but what we do know, we’ll share, and welcome others add their insights. And, if you are an indie dyer, a knitting pattern designer, a crochet tutor, a yarn store owner, or aspire to be any of these things, this is the podcast for you.
Entrepreneurship starts with recognising there’s see a problem to solve, not a solution. The problem we saw: people often start a business in our industry because they like yarn craft. Or just yarn. They don’t often have business acumen, and don’t have time/ energy/interest in reading and interpreting swathes of material on entrepreneurial thinking, start-up culture, financial modelling, business planning etc. As knitrepreneurs, we wanted to create a platform for sharing our filtered insights, as well as provide a platform for drawing out the expertise of other knitrepreneurs, for the benefit of all who engage with our podcast.
We set homework- Jess and I are, and always will be teachers- and if you do your homework, I think you’ll be impressed by what you discover about your own yarn-craft business by the end of the season!