We are out from Dec. 24, 2018 to Jan. 1, 2019.

178 Eddie Yoon Driving Category Growth and Creation

Eddie Yoon

Eddie Yoon is a successful author, strategist, and entrepreneur. He focuses on growing and creating new categories and unlocking new sources of customer demand.

“When you ask an aficionado of a category — someone who is spending a lot — about what it takes to spend more, he will be glad to say, ‘Thank you for asking me, I have a laundry list of things you can do better’.” – Eddie Yoon

The Right Way to Grow a Company

178 Eddie Yoon Driving Category Growth and CreationEddie has had the firsthand experience of seeing companies grow. He has seen that many of them do not choose growth correctly.

One popular way of growing is taking something away from another company. Companies copy things such as products and discounts from another.

But nothing great happens. What they can do instead is to become better or to create something new.

How to Get Ahead of the Game

Part of Eddie’s goals is to reorient people to play differently. According to him, 1% of brands who can grow a category can capture 80% of the growth.

“You’re far better off going deep in conversation with one super-consumer than many average consumers.” – Eddie Yoon

When brands or companies create an entirely new category, they tend to grow four times faster in sales.

Standing Out from the Competition

Eddie believes in combining breakthrough product and offer innovation with breakthrough business model innovation.

“People aren’t born super consumers, they evolve into them. Find out what took them from non-consumer to super-consumer.” – Eddie Yoon

Netflix, for example, has the same product with its competition. But they offered different ways to consume it. And more than just a distribution platform, they created new content for their consumers to enjoy.

To learn more from Eddie Yoon, download and listen to the episode. Connect with him through the links below. Remember to let Eddie know you heard about him on Stop Riding the Pine!

Show Links for Eddie Yoon.:

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