Creating Value for Clients
Restored from the Empower Network archive (2011–2017), lightly edited to meet our current advertising standards. Views are the original author’s.
If you are in business for yourself, you know selling is a big part of what you do. That is the simple but important truth. Most of us do not have the luxury of being in business solely to help or support others. If the enterprise cannot support itself in usually a too short period of time, the enterprise will be gone. I have been in b-to-b sales with small to medium businesses for nearly 9 years now and know this to be true. No matter how pure their intention if a business isn’t able to support itself financially it is not a business. A hobby, maybe; but not a business.
So can we agree that every enterprise from a church to a computer store, is there to add value and derive a financial return for that value. If the cost of doing business is higher than the perceived value, it will soon be out of business.
So the small business owner or entrepreneur has two main objectives.
- Deliver real value to the marketplace.
- Promote and sell that value to the marketplace.
Delivering Value –
This is a very large topic but just as “beauty”; value is in the eye of the beholder not the creator. This is the simplest and best advice I can give. Let me explain. Most small businesses or started due to a skill-set, desire or passion of the owner. That is fine but often it is not enough. I have seen hundreds of business failures due to a disconnect between the business delivery and its market. Few businesses have a valid realistic business plan. Being overly optimistic about sales, lack of competitive analysis and a real understanding of their customers. Also, making choices based upon cost like cheaper real estate but poorer location. Spending more time up front analyzing the market, thorough understanding of all the costs and developing a good sales strategy before you start are important. Then plan on working hard for at least five to ten years.
Promoting and Selling the Value –
This never ends. The old rule of thumb was people may need seven contacts before they purchase anything so a new business needs to build those contacts fast and make them valuable! On the internet, they are saying you have 3 seconds to capture their attention before they leave your site. Coupons…contests…hosting events all help to build traffic. Whether you are on-line or off-line, traffic is important. Location is important. The customer experience is important. A business owner must be open to opportunity for additional markets and sales as they occur. If you are a candy shop and there is a local holiday or festival, try to include something that supports the festivities such as a special ice cream or chocolate or T shirt.
As a marketing coach, I know we don’t have a lot of time to get it right and that most enterprises will simply not survive if they don’t get it right in the near term. I have learned how to create income with almost any enterprise today while we are designing and creating the future long-term income stream. Debt free cash flow is the single most important thing you can do for your business. Let me show you how. Join my webinar series or contact me for a one-on-one personalized consultation. I also lead small business and entrepreneurial mastermind groups for continued learning and sharing.