Entrepreneur Lessons From Outside the Valley: Lesson #2 Know Your (Geographic) Advantage
WHAT: Know your geographic advantage.
Sandbox is an offline social and professional network of “extraordinary achievers under 30.” Sandbox is also a for-profit company currently in the process of filing for incorporation under Swiss law.
How does a company make money from being a “network of extraordinary achievers?”
Ah the good old days: Antique Maps, Europe at the center of the world, no pesky social media.
Here’s Sandbox they stacked up in terms of geographic advantage:
- They’re well-connected to universities and their alumni in Europe, the US, and now Singapore.
- Their alumni friends now work in top firms in a variety of industries around the world.
- They’re young in a nation (Switzerland) that’s aging.
- They’re working in one of Europe’s richest, most thriving economies, home to numerous giant multinational corporations with a wealth of cash.
HOW: Market your advantage.
Like any smart business people, the founders at Sandbox market their advantage.
1. Who ARE you that the people in your community AREN’T? Antoine and Fabian are young, savvy social media people surrounded by big, old, rich companies. To market their in-context advantage, they sell social media consulting and help their parents’ generation get in with the cool crowd.
2. Do you have something that somebody else wants? They’ve built a network of vetted, ambitious young people in a bunch of international cities. To market their in-context advantage, they liaise between companies needing super-smart, tested young ‘ambassadors’ in far-flung cities and young people needing jobs.
3. Build value for your members, not just your customers. They’ve created fistfuls of high-value human connections with a strata of young society all over the rich world. For members looking for international career opportunities, or even just fun, like-minded insta-friends at a travel destination, the network is precious enough to be worth some bucks.
New geographies (ok, MySpace probably shouldn't be so big anymore)
To truly market your advantage, you have to understand what your community is missing. If you’re Swiss, and you know your nation is aging and dominated by a few big name companies rather than by a few thousand hole-in-the-wall startups, don’t be touchy. Embrace this reality as an opportunity for you to swoop in.
If you think there’s nothing missing, then you need to have a conversation with my Chinese mother about your ill-conceived notions of perfection. She’ll set you right with some inspiration!
