Building your business through using brains not budget
3 core principles:
Competitors will probably have more money but you can beat this if you use your skills…
- Get The Basics Right
- Keep the basics right
So for example if you are a fish and chip shop a fundamental is to have great fish. If the fish isnt right then you may need pay more to get this fundamental element of the product correct ( otherwise there would be no platform to build on)
Ask yourself the question “What fundamental elements of your product / service do you have to get it right?
Use the power / leverage of your product / service as a strength
This is where emotional leverage kicks in and you have a chance to ‘build your own fan club. Did you know 70% of home football games are won; can you harness the power of the people who believe in what you do.
Warning “Don’t overdo it”. (A couple in a restaurant asked by the manager how’s the wine? How is the food? – No response. Restaurant manager “Is there anything I can do to improve your experience?” Response from couple “Yes go away!”)
You’re in competition
Choose the right opponents for example target sloth’s – those companies who have forgotten customers (i.e. have lots of meetings / live in glass palaces). M&S, and BA were sloth’s. Small sloths in many sectors could be the smaller independent organisations.
Two important points What appear to be big company sloths – may not always be sloths and do not take on the big guy who is equally skilled if they can match you in brains and they have bigger budgets they will most likely win
Elements of Movement
- Stay Fit and lean – you need to keep on training
- Fast – speed of reaction is critical. It shouldn’t take an enormous amount of time to make decisions
- Focus – stay focus and don’t get distracted, make sure you finish off critical activities
What could you do differently to unbalance the competition , when was trhe last time you did the unexpected. Remeber that after you have done something unexpected the competition wil find out and eventually copy you so you will need to coming up with your next move.
- Do the unexpected – grab the opportunity
- Expect the unexpected – keep your balance
It’s the little touches that make the big difference
- Sending a gift
- A sweet after a meal
- Responding to customer complaints
- Do what you say you are going to do
- Develop a culture of belief