Boeing’s 737 Max issues highlighted the company’s sacrifice of safety for financial performance, resulting in a tarnished reputation. The prioritization of profit over core values also damaged the FAA’s credibility and revealed a lack of accountability for top executives. This downfall serves as a reminder of the importance of maintaining core values and prioritizing them over short-term financial gains.
Becoming Famous in Your Niche: The Success Story of Linn Products Limited
In a previous discussion, I highlighted the importance of being famous for something. Being well-known in your niche can help you:
- Concentrate on your strengths
- Connect with your target audience
- Communicate your offerings more effectively
- Receive referrals
- Identify your core customers
While Apple and Tesla are examples of large companies achieving fame, small businesses can attain similar success by carefully defining their niche. A prime example is Linn Products Limited, a small Scottish engineering company that manufactures high-quality audio equipment.
The Origins of Linn’s Fame
Linn Products gained fame with its first offering, the Linn Sondek LP12 turntable, introduced in 1973. The company’s logo represents the ‘single point’ bearing, which was the LP12’s unique selling point. The turntable’s impact on the industry has been enormous, with accolades from Hi-Fi Choice and The Absolute Sound, and it remains a reference turntable for hi-fi reviewers.
The Linn Philosophy and Its Tribe
The company’s founder, Ivor Tiefenbrun, established a philosophy centered on the source’s importance in the reproduction of hi-fi music. This “Linn way” has attracted a dedicated tribe of customers and followers, called “Linnies,” who believe in and support the company’s approach.
Technological Excellence and a Commitment to Innovation
Linn Products has maintained its reputation for excellence through constant technological advancements. The company invests 10-20% of its revenue in R&D to remain at the forefront of the industry.
Embracing Digital Technology
In 2007, Linn Products shifted its focus to digital music playback, supporting 24bit/192 kHz studio master-quality recordings using digital streaming over a home network. The company has since introduced various digital streamers and has been awarded Label of the Year by Gramophone magazine for its commitment to improving the recording process and distributing music online at studio master quality.
Exact Technology: Eliminating Music Loss
In 2013, Linn Products launched Exakt technology to eliminate sources of music loss inherent in analog hi-fi chains. By keeping the 24-bit lossless signal in the digital domain until the latest possible stage, Exakt technology minimizes signal loss.
The LP12: Still Going Strong
The Sondek LP12 turntable continues to thrive, benefiting from the resurgence of vinyl. Linn has continually improved the LP12’s sound quality through retrofittable upgrade kits.
How Linn Retains Its Tribe and Creates Stickiness
Linn has kept its followers engaged by staying consistent in its philosophy, providing a range of products with clear upgrade paths, offering product upgrades, and moving with the times. The company has also increased the stickiness of its products through software upgrades and integration, similar to Tesla.
The Benefits of Being Famous
Linn’s fame has helped the company become renowned for producing excellent hi-fi equipment through engineering excellence. With a dedicated tribe of followers, Linn focuses on selling value and maintaining a low-volume, high-margin strategy.
Emulating Linn’s Success: Find Your Fame
If Linn, a small Scottish company, can achieve fame in its niche, so can you. Start by identifying your “why” and determine what you can be the best in the world at. You can achieve greatness in your niche with focus and dedication, just like Linn Products Limited.
If you need help finding your path to fame, don’t hesitate to contact me.
Copyright (c) 2021, Marc A. Borrelli
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In a previous discussion, I highlighted the importance of being famous for something. Being well-known in your niche can help you: Concentrate on your strengths Connect with your target audience Communicate your offerings more effectively Receive referrals Identify...
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