A successful business finds a way to be unique and distinctly different in its market.
This is often easier said than done, and unfortunately, there isn’t a one-size-fits-all solution for all businesses. The fastest way to build a successful business starts by answering two questions. Answering these two questions for some takes minutes and others years:
- What do my customers really want?
- What’s so compelling about my company that it’s the logical choice to provide what customers want?
If you’re just starting out, my advice is to not begin operations until you’ve answered both questions above and tested them out on many potential customers.
If you’re in the middle of building a company, press pause and find the answers. This simple advice could have saved countless entrepreneurs and company leaders millions of dollars and prevented them from going out of business.
Let’s face it, competition exists in every market and geographic selling area. This is what makes it so hard in a crowded marketplace to become successful. For example, let’s say you run a professional services business within a populous urban area. There you will find dozens of service organizations that all of your competition is fighting to win. What can you do to persuade companies to become your clients rather than your competition?
Many rely on slick marketing and creative presentations, and those are nice to have, but they aren’t what will convince a company to choose you. It takes one thing — become known for that one thing customers want, and do it better than anyone else, and, here’s what makes this so hard. Stop offering all the other things customers really don’t want.
Most companies generally ignore this simple but powerful strategy because it seems too limiting and it defies logic. Offering a long list of services seems like a smart strategy until you realize your potential customers don’t want many things, they only want one thing. So if you’re best at that one thing, you win!
To learn how we can help you find that one thing and win, click here.