Everyone and their mother wants to have a business of their own. We skip over all the boring stuff and get right down to designing our pretty websites and our pretty logos. We spend thousands on pretty storefronts with fancy displays and sparkly signage.
If you skip over the market research and the business plan, you might as well take your money and flush it down the toilet. Save yourself the headache.
I’m going to give you some important topics to think about whether you’re just starting your business, or you’re already running your business. It’s never too late to think critically about your approach.
1. Everyone is doing the same thing as you.
What are you doing differently? You have to have a competitive edge that sets you apart from your clients. For example: I have had about 5 clients in the past 6 months that are “life coaches” for lack of a better term. They all do exactly the same thing. That’s fine; however, each of them have different specialties that sets them apart and that’s what is going to determine whether they sink or swim. Find out what your competitive edge is. Why am I going to hire you, and not the guy doing exactly the same thing?
Examples of what your competitive edge might be:
- The least expensive
- The best customer service
- The best variety
- The highest quality
Don’t try to do it all. You’ll water down your brand. Look at Wal Mart – the most successful store ever. They don’t try to be the best quality , and the least expensive — their competitive edge is that they’re the most convenient. They’re open all the time, they’re every where and you can get whatever you need from the same store. In fact, their customer service is shitty, and their product is shitty.
2. Check out what everyone else is doing
The best way to figure out how to compete, of course is to know what’s out there. Get your tough guy gear on and ask questions. Who is doing what you’re doing? How much are they charging ? How do they present themselves online? How is their customer service? Figure out what they’re doing and ; more importantly, what they’re not doing. How can you fill that void?
3. Fake it till you make it
My grandma said this all the time as a joke, but it’s a good concept for business because people have to trust you in order to get their money. Fake it till you make it.
I’m not telling you to lie; I’m telling you to fake it ’till you make it.
It’s called brand positioning, and it’s not really being fake at all. What I mean is position yourself as an expert. The only thing that makes Marie Forleo an expert in her field is that she calls herself an expert. We believe it. Even I do.
Wikipedia defines this as :
” The way by which the marketers attempt to create a distinct impression in the customer’s mind”
Last words:
The main thing to remember from this post is to find the one thing you’re amazing at in your business, what you do differently ; and do it strong.
What do you think? Respond below if you have anything to add! I would love to hear your thoughts.
