Busi­ness snip­pets

Dis­tin­guish­ing your busi­ness from the com­pe­ti­tion is critical to your suc­cess. Here’s how:

True Love - - Contents -

“WHAT DO YOU NEED TO START A BUSI­NESS? THREE SIM­PLE THINGS – KNOW YOUR PROD­UCT BET­TER THAN ANY­ONE, KNOW YOUR CUS­TOMER ANDHAVEA BURN­ING DE­SIRE TO SUC­CEED.” – Dave Thomas, US busi­ness­man and phi­lan­thropist

1. Solve a prob­lem: Take note of the prob­lems that are com­mon to your clients, and be the best at solv­ing them. Your so­lu­tions must be easy to use and pro­vide bet­ter re­sults. 2. Nar­row your tar­get mar­ket: De­fine the peo­ple you serve as pre­cisely as you can. By spe­cial­is­ing in serv­ing spe­cific cus­tomers, you can fo­cus on the skills or ser­vices that uniquely ben­e­fit them. Be­ing the best at ser­vic­ing their spe­cific needs en­ables you to max­imise rev­enue and build stronger cus­tomer re­la­tion­ships.

3. Of­fer a guar­an­tee: Of­fer a guar­an­tee so strong, no one else in your in­dus­try would dream of do­ing so. This one fright­ens some en­trepreneurs, but you must have an un­shake­able be­lief in what you pro­duce or pro­vide. Come out and boldly an­nounce that you guar­an­tee re­sults, and see what hap­pens.

4. Do some­thing dif­fer­ent: If you want to stand out from your com­peti­tors, it pays to do busi­ness dif­fer­ently. Find­ing and ex­ploit­ing holes in their busi­ness model is a great way to set your com­pany apart.

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.