WHAT PATH TO TAKE? WHERE ARE WE? WHERE ARE WE HEADED? WHAT WILL IT LOOK LIKE? WHAT WILL BE EXPECTED OF ME AND MY BUSINESS?
The economy seems to be moving toward a ‘feel better’ state, but it is not there yet. People continue to be very cautious about spending. Short sales in the real estate market are still abounding, with more inventory than there are buyers. Banks are still closing and new ones emerging out of mergers and acquisitions.
We all find ourselves in this in-between place. with nothing to hold onto and no roadmap to help us find our way. Everything we knew and depended upon has turned upside down. How do we navigate this and come out on the positive side of success?
What we know: There is no normal – what we experienced as our normal has either totally been swept away, or is morphing into something new, and as yet, undefined.
What can we do? Be smart and use all of the knowledge and wisdom we can glean to create our own future. So the BIG QUESTION r e a l l y is:
WHAT CAN YOU DO RIGHT NOW TO MAKE A DIFFERENCE and be ready for the new economic surge when we turn that corner?
Here are 7 ideas to ponder under the umbrella of DIFFERENTIATING your business from your competitor:
- PRICE – be cautious NOT to be the cheapest. Psychologically — right or wrong — people equate least expensive with poor quality. Don’t make that mistake! Do your homework and be very competitive with your pricing, as well as flexible with your customers. In other words, negotiate when it is appropriate.
- QUALITY – this is the key to establishing your branding; DO NOT COMPROMISE here! ALWAYS, always, always, give the highest quality of goods and services possible. Your future depends on that reputation in the marketplace.
- SERVICE – here’s something that should be easy for you to offer your best. In this time of stress and economic white waters we are all still navigating, service provides that extra inch of ‘feel good’, the comfort ‘food’ of buying; so…ratchet it up! Go the extra! And don’t stop until you WOW your customers and they tell you so unsolicited.
- BUNDLING – what merchandise/services can you combine for an excellent value to your clients/customers? Can you partner with your colleagues and business neighbors? How can you create an excellent value for customers that they cannot get anywhere else?
- CREATE A ONE STOP SHOPPING EXPERIENCE — What can you offer that you are not already? What are people looking for– asking for – that will add value to what they are buying?
- MAKE IT EASY TO BUY FROM YOU – create a no hassle buying environment; pleasant, comfortable, and an extraordinary customer shopping experience so that they beat a path to your door. Go back to basics when shop owners knew everyone’s name and information about their family, etc. birthdays, weddings, anniversaries, births, vacations – start a new file and give out coupons; in fact, partner with a local restaurant or other establishment so that you support each other’s businesses. Get creative!
- UNIQUENESS – what can you offer that no one else can? What makes you different?