How to differentiate yourself in a market where price seems to be the only thing.

Firstly, price is never the only thing. If you think that it is, you will always be challenged to make money in your business because you are focussing on a single factor, when in fact there are many more. In fact, that you have great control over. Let’s look at how you can differentiate:

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1. Understand all the factors in play with your customer. Yes, price is important and it always will be but there are other factors as well:

    a. Your reputation versus your competitors – what do you always do that your competitors do not. Could be seen as a positive by your customer. Do they know that you do this? How much would this be worth to the customer if they did know.
    b. Your experience – maybe you are a better problem solver than your competitor. The more complex the job, the more important that this becomes. However, for your customer, they may be purchasing your service for the first time. They may be completely unaware of the challenges faced in setting up your product or service and they may be equally unaware of the consequences of these if left unresolved.
    c. Your team – not everyone has a team of people capable of doing the work. How would you rate your team? This can even include sub-contractors. If you regard them highly, then you need to be able educate your customer on the value of same.
    d. Your ability to differentiate. Yes, you know why you are better, why you are different, why it should not be always on price. Wht does the customer not know? Because they may have not purchased your service before. Its up to you to educate them. How well do you do this.

2. Understand that you have a role to play in helping someone to buy your product or service:

    a. What does your website say about your product or service?
    b. How well does your quote stack up? Did you put enough time and energy into its preparation?
    c. How well did you present your quotation to the customer?
    d. How well did you follow up.
    e. Would the customer have been impressed with every aspect of your preparation, right from the first email, phone conversation, right up to when the decision was made.
    f. If you did lose the business, how difficult was it for the customer to take it from you?

 

What to do when you have too much to do…?

As a business owner, it is very easy to get caught up in trying to do everything in your business. You do this for a number of reasons:

image11. You believe that if you do not do the task it will not get done.

2. If you do not do the task, it will not be completed correctly.

3. If you do not do the task, it will not be done fast enough.

4. You could not possibly ask a member of the team to do this particular task.

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There is a saying that

“if the dog chases 2 rabbits, he catches none”.

This can be applied to the behaviours of many business owners and managers.

To alleviate the requirement on you to do all the tasks in your business, we work with you to ensure that:

1. Most tasks can be systemised and therefore delegated

2. A better system of accountability can be introduced so that people can be held accountable for the tasks.

3. A better system of reporting can be put in place so that we know when things are completed properly.

4. You have confidence that you do not need to complete all the tasks.

Your primary responsibility in the business is to lead the team and enable the business to grow. There is no point paying your team if you are not in a position to delegate more to them.

You can only carry one or 2 people but you can lead thousands.

Contact me today to discuss on 087 222 0720

Do Business Plans Really Work in Real Life?

If you speak to business owners all over the world, you will hear the following:

“I prepared a business plan which got me a loan but did not reflect how the business fared at all.”

“Most of the assumptions that I made in my business plan were wrong and the plan did not work”

“My business plan lacked any real insight into what really happens in business”

“you cant plan for my business – its too un-predictable”

“I have not got time to do a plan – I’m too busy (not making money)”

And these are the reasons why most people fail to plan. Too often, plans are too broad brush, too long terms and fail to cover the specifics of what has to be done, today, tomorrow, next week and the week after.

If you would like to get down to the nitty gritty, to identify the top 10 things that you must do in your business in the next 3 months, then you need to attend GrowthCLUB.

Book your event today in Galway on January 9th or Ennis on January 16th

If you you like to work on a personal business plan outside these dates contact me today.

 

Book Buzz – Get it working for your organisation

We had the pleasure meeting with Ron and Alan from Book Buzz on Friday in Dublin – they shared their concept of new innovative thinking for businesses. Really good stuff. I look forward to applying it with my own clients..

Here is a clip of the lads on Newstalk…

Enjoy –

Reminder as well about GrowthCLUB on Friday July 1st at the Harbour Hotel in Galway…

Click Here to Register