A couple of things I want you to ask yourself in regards to your business.
1. What makes you unique?
2. What problem do you solve for a consumer?
These are 2 important topics when it comes to your business plan.
You need to determine how you're different. How will you stand out? What problem are you solving for a customer? If you own a countertop store, but there's 10 other countertop stores in your area, what's going to make them shop with you over the rest? I guarantee you it is not always the price. It will be about the experience they have and relationship you build with the client. I can't tell you how many times customers have told us, we weren't the cheapest, but we gave them the warm and fuzzy feeling. Stop trying to offer discounts to win over customers. You know who's going to shop with you? The ones who only care about the price. Statistically speaking, those are some of the worst people to do business with. Not only do they want it done for bottom dollar, they want it PERFECT, and will call you back over and over again to make it so, and then STILL leave you a 2 star review saying you couldn't do it right the first time. Your prices should reflect the extra time, attention and value you're going to provide the client. Every time. When I first started in business, I was offering discounts left and right just to earn a dollar. Except I was earning 2 but spending 3. How long do you think that will sustain in business? It won't. Making a million dollars ain't shit if you're spending 1.1 to make it happen. Build your customer experience around what makes you different, and what problems can you solve for a consumer. I always say, we are not in the home improvement business, we are in the customer service business.
I talk a little about this on some of my podcast episodes... Check out The Relentless Machine Podcast for more.
1. What makes you unique?
2. What problem do you solve for a consumer?
These are 2 important topics when it comes to your business plan.
You need to determine how you're different. How will you stand out? What problem are you solving for a customer? If you own a countertop store, but there's 10 other countertop stores in your area, what's going to make them shop with you over the rest? I guarantee you it is not always the price. It will be about the experience they have and relationship you build with the client. I can't tell you how many times customers have told us, we weren't the cheapest, but we gave them the warm and fuzzy feeling. Stop trying to offer discounts to win over customers. You know who's going to shop with you? The ones who only care about the price. Statistically speaking, those are some of the worst people to do business with. Not only do they want it done for bottom dollar, they want it PERFECT, and will call you back over and over again to make it so, and then STILL leave you a 2 star review saying you couldn't do it right the first time. Your prices should reflect the extra time, attention and value you're going to provide the client. Every time. When I first started in business, I was offering discounts left and right just to earn a dollar. Except I was earning 2 but spending 3. How long do you think that will sustain in business? It won't. Making a million dollars ain't shit if you're spending 1.1 to make it happen. Build your customer experience around what makes you different, and what problems can you solve for a consumer. I always say, we are not in the home improvement business, we are in the customer service business.
I talk a little about this on some of my podcast episodes... Check out The Relentless Machine Podcast for more.
Bill Baker
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