It's a tough time for many small businesses. And yet, every day new businesses open up. 
We also hear about small businesses started on a shoestring budget which turn into multi million dollar businesses. What causes some businesses to flourish and others to fail?
One strategy is establishing a point of difference. You know yourself you don't always shop on price. What is it that draws you to a business which is further away or more expensive than the one down the road?
Here are 7 starting points for establishing a point of difference in a retail business.
1. Outstanding customer service and a customer oriented approach
2. Quality products and a good range
3. Responsive to changing customer needs and feedback
4. Be proactive in supporting customers and offering new or improved services and stock.
5. Be aware of what your competitors are offering and doing, and keep a step ahead in differentiating yourself.
6. Make it easy for customers to contact you and buy from you. Have an online presence or keep in touch with your customers through newsletters, a blog or special offers.
7. Have knowlegeable, efficient and friendly staff and a good working atmosphere.
This is just the tip of the iceberg.
- What elements of a small business make you keep coming back?
- What do you offer your customers which sets you apart from your competitors?
© Image courtesy of Yvonne Russell at Grow Your Writing Business.com
As a marketing coach, I work with self-employed professionals. One of the ways I suggest they differentiate themselves from their competitors is to consitently follow up -- after meeting people, after receiving referrals, after meetng with prospects, after selling their services. Not only does this easy-to-implement tactic differntiate them, it also keeps them top of mind.
This idea also demonstrate that it is possible to differentiate, even in those professions that are highly regulated by the government.
Posted by: Peter George | February 17, 2008 9:44 AM | Permalink to Comment