The Power Of A Business Competitive
There's a silent business killer silencing new businesses across the nation. Discover how a business competitive strategy plan will protect you from being it's next victim.
There's a silent business killer on the prowl.
- It sneaks into the cracks and crevices of many new businesses, and it suffocates the life right out of new businesses everywhere.
- And it is the cause of death for many business nationwide.
- This silent killer goes by the name of..."Low-Customer-Flow"
The "Low-Customer-Flow" Killer looks a little like this.
- Suzy opens a new business.
- She's ecstatic.
- She works night and day on preparing for her business opening.
- She reads all the latest business magazines, books and websites.
- She has registered her business, got her logo designed, and she has even started her own business website.
- Life couldn't be any better...(or so she thinks).
She opens her doors with every intention of welcoming in her new customers.
Though she has followed many of the "I'm-about-to-open-my-business" activities, she has neglected one of the most important of all:
- She paid no attention to how her business would distinguish itself from it's competition.
- She had heard about the importance of having a business competitive strategy plan, but, she just hadn't done the work to ensure that her business would prove itself competitive.
She made the tragic mistake of believing that if she built it, they'd come.
- She thought that customers would be lining up in droves to patronize her business.
- To date, this hasn't yet happened.
Learn from Suzy's tragic mistake.
Create a competitive business strategy plan that takes the following realities into account.
Reality Factor 1: Today's competitive environment is harsh.
- You and your competitors are fighting for survival.
- You are fighting to win the business and loyalty of today's very selective customer.
Reality Factor 2: Today's customers aren't too impressed by you or your competitor.
- For them your business, and your competitor's business, are both the same business.
- So, for them, it doesn't really matter which of you they choose.
- Some days they may choose to do business with you...while on other days they may choose to do business with your competitor.
This is bad news for you.
Your business requires that you get a some predictable flow of customers.
- Without a predictable customer flow, you have no predictable income flow.
- And without predictable income, your business will die.
Create a more predictable customer flow by purposely designing your business to attract customers to you.
- You must design a business that gives customers a reason choose you over the competition.
- You will want to create some type of product, service, and experience-mix that actually gives them a sense that, "Whoa, there's something pleasurably different going on with this business...let me give it another visit."
Use a "Business Competitive Strategy Wish List" to keep you on your strategic toes.
Invest your time in creating a business competitive strategy wish list that list out a variety of ways that you can make your business more attractive to customers.
Start by keeping a log of innovative practices that will make you stand out from the competition.
- Keep your eye out for innovative business practices you may see in other industries.
- Make a note of what it is that other industries are doing to keep their customers coming back.
- Keep a log of all of those business interactions that actually impress you...and make you want to visit a business a second and third time.
- Then look for ways that you can implement similar actions in your own business.
Also be on the lookout for innovative businesses that you can adopt as your entrepreneurial hero.
Study what it is that your entrepreneurial heroes do that impress their customer-base.
- How is it that they are able to distinguish themselves from their competitors?
- How have they evolved their service offerings over time?
- What business practices are they using to keep their business fresh, innovative, and customer-relevant.
Whatever you do, don't let the "low-customer-flow" killer catch up with you.
- Keep your business competitive strategy plan fresh, vibrant, and alive.
- Keep a continual eye on innovative opportunities that will further separate you from the pack.
Look for opportunities that will allow you to develop something fresh, and customer-relevant for your customer base.
Repeatedly doing so over time will boost your business competitive strategy and give your customers a reason to keep coming back.
Here's to creating a business that's competitive enough to stay ahead of the pack!
Signed: Latarsha Lytle, MBA, business strategist, motivational coach, and your biggest fan!
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