After only 3 entries on this blog so far, lots of people have made positive, encouraging comments, while many others have emailed or tweeted their support. However, the feedback has not been all one-dimensional. A few people have privately asked me why I am disclosing so much about the mag nation business, our strategy, our future fears and plans. They have questioned the wisdom of giving up competitive advantage and the element of surprise. The overarching theme of these conversations focuses around disclosing too much which in turn would allow a mag nation copy cat to set up in Sydney, Brisbane, Perth or Wellington before we can get there.
Our not so secret defensible asset is relationships. We probably know over 1,000 niche publishers, and this hasn’t happened overnight. We have taken years to build these relationships, and a new entrant into this space would find it very hard to replicate this in a short time. Its not that someone else couldn’t do the same thing, but it would take time.
So, I don’t mind “giving the game away” via this Blog. The big players in the industry can’t replicate what we have, and potential newcomers have to be aware of the blood, sweat and tears it requires to build trust and respect with so many small, passionate and retailer wary creative souls.
And that is where I want to end this entry. With a thank you to all of the small local and international publishers who have taken the time to get to know us and let us know you. To Mike, Kate, Eddie, Andrew J, Andrew L, Andrew M, Timba, Chris, Rob, Mel, Di, Martin, Becky, Amelia, Woody, Chris, Campbell, Liz, Jess, Lisa, Thierry, Marian, Fraser, Kyra, Grant, Rachael, Ian…. (ok – there is no way I can list all of you – you know who you are) – you guys are our competitive advantage.
Australians seem to be particularly paranoid about… well most things. The more transparency the better I say. Not enough Australian businesses bother to make personal connections with their intended audiences, hence the generally depressing retail landscape we all endure over here. So often, Australian businesses use marketing to build a wall between business and the consumer. Here’s to bashing down said wall. More power to yer, Mag Nation.
Not to diminish the importance of relationships, but I do feel that ultimately, your biggest defensible asset is being yourself. Allowing the business to develop its own personality and quirks in an open, organic and responsive way.
People who spend all their time worrying about imitators stealing their market simply lack originality and personality. If you have both those things, no one else can have what you have. Originality alone doesn’t dictate success, but a closed-door marketing process often does its best to destroy both.
Thanks for posting, I’ll definitely be subscribing to your blog.
Hey there,
I’m a small retailer facing the usual problems associated with selling in this competitive market and I found your blogs to be so honest and refreshing.
It’s great to read about your business plan and your goals.Very informative.
From one retailer to another l wish you luck going forward.
I will read future blogs with much interest!
Lovely work on the blog. I’ve just spent a good twenty minutes catching up on all of your posts to date.
I think disclosure is important to any business – it takes your customers, users and stakeholders on a journey of the brand. Online is the perfect place to disclose as much as possible; people want to relate to humans, they want to live through all of the ups and downs and appreciate any ‘offering’ from where it has come from.
I know with our publications (magazine and online), we’re constantly changing things, and admitting when things don’t work. If we change direction or change a column, we let out readers know the background as to why. It’s about building our community as much as possible, and as with any community, they need to be informed and empowered to feel a part of it.
Keep up the good work!
^ *Our not out.