Build a personal monopoly
Standing out in a crowded market
Read on hasmukhkerai.com
Read time: 4 mins
Today, I want to share an idea that I’ve become obsessed with: building your own personal monopoly. By leveraging your unique skills and interests, you can create a niche where you stand out and reduce competition.
In today’s competitive job market, standing out is more crucial than ever. Understanding how to create a unique professional space can lead to opportunities and job security, even in uncertain times.
Discovering this article and video came from my ongoing process of social media pruning. It helped me focus on the most valuable and relevant content.
Most people fail because they try to excel in overly saturated markets without differentiating themselves. They don't leverage their unique combination of skills and interests to create a niche where they can be the best.
Bulleted list of takeaways / At a glance:
Building a personal monopoly
Combining unique components to stand out
Getting started
Building a personal monopoly
Just over a year ago, my confidence took a hit.
A year ago, I found myself in an unmanageable job with a baby on the way. My confidence was low. I refocused on what I could control. Job applications revealed that a four-month paternity leave in Spain scared off employers.
This led me to build connections and start this newsletter to keep my skills sharp.
The newsletter opened doors to small projects for Google and Squarespace.
I got invitations to tech conferences like the European Blockchain Convention (which I've just been invited to again). I co-founded a photography competition focused on well-being.
These experiences taught me that my family’s livelihood couldn't depend on a conventional job and a single source of income.
Reflecting on David Perell's idea of building a personal monopoly, I realised the importance of creating a unique space. Here’s how you can do it:
Identify your skills and interests: Find what you’re passionate about and good at.
Develop a unique perspective: Share your unique insights through a blog, newsletter, or social media.
Leverage your experiences: Use your past experiences to differentiate yourself.
Network and build relationships: Connect with others in your niche to open new opportunities.
Create and share content: Consistently share valuable content that reflects your unique perspective.
Adapt and evolve: Be open to new experiences and continuously refine your niche. (I won't encourage anyone to look at my first few newsletters, for example.)
Build a personal monopoly: A unique intersection of skills, interests, and personality traits that make you one-of-akind - David Perell. Image by Visualize Value
Read the original article here.
Combining unique components to stand out
Jack Butcher's video highlights combining unique skills to reduce competition. This aligns perfectly with creating a personal monopoly.
Combining unique components: Layer your skills and interests to create a smaller, less competitive market. For example, I combined tech projects, therapeutic photography, and covering sports events to create a unique professional space.
Stand out in a niche market: By combining multiple interests, you not only reduce competition but also become an expert in a unique market. This approach has led to invitations to conferences, client-based work, and other opportunities for me.
Create demand: By being the only one offering a unique blend of skills, you create high demand for your expertise. This ensures a steady flow of opportunities tailored to your strengths.
Getting started:
A little trick that can help get the wheel turning.
Ask yourself: how would you introduce yourself to someone new without mentioning work?
It’s tough, right?
I've been refining my introduction for the last two years.
Here’s what works:
tell them how you help people.
then explain why you enjoy it and your experience.
In my case, it ranges from "I help small businesses create image banks. I enjoy it as there are always new skills to learn and apply, and I don't disturb the client while they're working" or "I help my son clean his bum. I treat it like an F1 pitstop."
Getting to know people beyond their job title has given me the privilege of meeting everyday superheroes (one person by day, another at night) and people who have developed their monopolies.
For example:
If you want to dig in deep, here's a 90-minute chat between both David Perell and Jack Butcher from Visualize Value.
If you think my experiences from a year of building my personal monopoly could benefit you, book a call and let’s chat.
Final thought:
If you got this far, you're part of 76% (I know!) of subscribers, so thank you {{ subscriber.first_name }}.
Going from an unmanageable job to building a personal monopoly, however small it is at the moment, has been challenging but rewarding.
Focus on your unique strengths
Leverage the internet
Consistently share your insights
If a section has particularly interested you, click the link of the corresponding section. It helps me prepare future newsletters. Or, add to the conversation here :)
See you next time,
Peace.
Has
