Looking to Stand Out? Ask Yourself: What Is Own-Able?

BY CHEF ERIK OBERHOLTZER

Article by Chef Erik Oberholtzer - originally published on Rolling Stone

Intuition and real-time iteration are powerful, but planning is key for sustained growth.

IN MY WORK advising food entrepreneurs, I always ask them to answer these three questions: Why does the world need your product or service? Why now? And why are you and your team the best to execute on this idea?

In the answers, I determine whether the idea is unique or redundant to the current market. If it is redundant, I send them back to refine the concept so it has a chance to stand out. If it is unique, we further define the characteristics that will protect it from competitors or copycats. The more you can create characteristics that are so unique to that brand that no one else can replicate it, the deeper the moat a business can build.