On Being Like Iberico
You can be $300/lb sliced ham or $4/lb sliced bacon. Your choice.
I was having some cheese and crackers the other day and I had a profound thought that directly translates to your business.
As I was delicately laying a slice of Iberico ham on cracker I thought to myself… this sliced ham is about $300/pound and I happily bought it.
(and I’m relatively cheap, but I digress)
Why did I buy it?
Because I was told Iberico Ham is the best, and it’s price indicated that it was.
Not only did it cost much more, but I was preciously savoring every micro-thinly sliced morsel.
Because I got less - it mattered more. I did not take it for granted.
While most businesses are competing to be the best bacon, why not position yourself as thinly-sliced smoked, aged, imported Iberico ham?
It’s the same meat at the start. How the pig is fed, prepared, smoked, aged, and delivered make the difference. (or in business speak - how the proverbial sausage is made)
Iberico commands more revenue, has customers that appreciate it’s service more, and does not go out of demand when times get rough (people who value outcomes are less worried about price).
Don’t believe me? The Spanish Serrano Ham Consortium (yes, there’s one) reported that Iberico exports were up almost 11% during 2022, one of the worst economic years of this century.
The only thing about being Iberico is… you have to deliver high quality service or product.
But you don’t have to be the best in the world - you have to be the best in your customer’s world. That’s a huge distinction.