What Makes You Great?
Wow, wow, wow! What a great turn out and some great insights at last month’s Champagne and Business Tuesday. Our theme was, "What Makes You Great?" It was great to see new faces and regular attendees.
In conversations with current clients, the topic of price and cost has been coming up a lot. “We’re more expensive that our competition.” Or, “Our competition can out spend us.”
But the truth is that if it was all about cost of goods, we’d all shop at Walmart and we’d all drive the cheapest car. We don’t. So price is not the only, not the dominant, factor in a customer’s decision to buy. Conversely, not everyone goes to McDonalds or buys Nike shoes, so outspending on advertising is not the dominant factor either.
How much are you worth?
The deciding factor for many customers is you. The customer needs to know what makes you great. All things being equal, the cheapest is the best, but all things are never equal. Knowing what makes your business great, what separates you from your competitors is how to find your customer and separate yourself from the crowd.
So, What Makes You Great? What makes your business, or you, especially good at the task?
We had some great answers, and some great insights from the crew.
The big hit of the night was long time member, first time attendee, Adam.
Adam challenged us all to challenge ourselves to do more. He is an avid reader of self-development books and thinks everyday, “How can I build my businesses, what can I do today to move myself forward?” Powerful words from a coach and mentor.
Stevie Duren from Bliss Bodywork really talked about her passion for understanding what her clients are experiencing. She described how she found her calling and her core client group “women in transition,” by listening to what clients shared and helping clients in a way that resonated and helped them through the process.
Trista Lyman discussed confronting the issues of worth and pricing when a client did not want to pay for her services. “I went to school for 7 years to be able to create functional and beautiful designs. I know I am worth the effort and time, and I am going to keep my pricing because it is an accurate reflection of my value.” You go girl!
Ashley took a different approach. She asked, “What do you say when you excel at several services, and there are several things you could highlight?” This provoked a lot of feedback and discussion.
- One suggestion, “Follow your passion, and trust that the business will grow around that because you are doing what is true.”
- Another, “It is okay to pursue different options, it is like split-testing. You can pursue both or several and monitor what is working and what is bringing in money.”
- Another suggestion, “Start with the lead service, and bring the other services in as a value add. ‘I do this, but I also can handle this aspect of project implementation.’”
- My suggestion? Think about your business like concentric circles. What are you good at? What makes money? What makes you happy? Find the overlap.
We had some great insights from Mike Adams who is launching a awesome company called Gyre Company International. “I am really passionate about helping people and bringing a resource that could help the environment and bring economic change to impoverish communities where for decades companies and businesses have only taken and left no value.”
So many unique differentiators for each business owner and professional. Ask yourself the next time you are worried about price, “What makes you great?”
Originally posted April 1, 2016.
Jennifer Ford is the Founder of Frederick Mountain Group, LLC. Frederick Mountain Group is a consulting resource for small and mid-size businesses focusing on people management and sales development. To find out more, or for information on upcoming programs, please visit www.frederickmtngroup.com, or email email@example.com.