subject: 2 Critical Elements To Build Your Small Business [print this page] If you are like the vast majority of small businesses, you got started by having a single client already lined up to perform the same tasks you were performing in the role of an employee for someone else. You take the entrepreneur leap and go into business.
As the business gets off the ground, you come to the correct conclusion that you need to market your business to bring in additional clients, but will be subjected to random results if you do not make the proper preparations. This wastes time and money - both of which need are guarded closely by successful entrepreneurs as their most valuable assets.
There are two critical elements that must be determined before taking the next step.
First, you must determine what exactly makes your business different from your competitor down the street. (This does NOT include being the low price leader. Small businesses cannot bear being the low price leader burden for any length of time which will only lead to the destruction not building of the company.)
Stop and determine the answer to the question, why would a potential customer choose my company over someone else's? Explore all angles including placing your products and services together in bundles, guarantees, educating your client in addition to performing your service, etc.
Second, is establish who is your ideal client. Take the time to write down everything about this person that is pertinent to your specific business. In selling to consumers characteristics could include age, marital status, income level, educational level and zip code. For business to business selling it could include, industry specific, company size, decision maker and years in business.
All of this information will be utilized in acquiring a very targeted list of prospects that you can approach that will be pre-disposed to use your product or service.
A bonus element can be to also develop a list of traits of clients you do not want and create your strategy to have these individuals eliminate themselves without ever entering your leads list to follow up with. This is a huge time and head-ache saver.
By taking the time to figure out why your company is different and picking your ideal clients proactively, you will have taken critical steps in building your business to becoming the money making machine you are looking for.
