Tuesday, 05 January 2016 15:09

Is your problem staring you in the face?

I have been working with 3 clients recently who all have a similar opportunity (which is my word for "problem").

They have lost clarity in their existence. Sounds bad doesn't. Like losing your eyes. And it is. They have been successful businesses too... in the past. They each have an awesome, well-structured business model. A business model I would be extremely happy to have because consultancy and services is actually pretty hard compared to product based business.

A straightforward operational cost and profit model. Boom ! Make money. Yay.

They do "X". They charge "Z"... They are experts in their field. They have huge experience... A reasonably respected brand. The business costs "C" to run... and they actually know, fundamentally how to make a PROFIT. But they are not. They are struggling.

So, why are they in trouble..?

Because even product-based business models need that extra 'oomph' and these businesses have lost clarity in their existence. But what does this really mean?

It means that........... They don't know what's making them special any more. Fear has crept in. The passion has been tainted. The audacity and energy they had 5 years ago has waned. They maybe have too many staff. Their overhead has bloated. They borrowed money instead of addressing core business failings. Now they have interest payments to make as well. The pressure is mounting. They made hasty decisions that backfired.

So, it's all become a nightmare. They're starting to look over their shoulder at the competition. They're considering downsizing at a time when the economy is on (a slow) recovery. They stop doing periphery activity and start concentrating on fiddling with their website. They're not converting customers like they used to. They stare into the headlights as they re-arrange the furniture and gasp for breath as they focus more and more on their problem and scream into the sky, "Why don't we have enough money !".

Time for a big slap

You get more of what you focus on. The more that relentless fearful pounding distracts you from the solution the more "not enough money" you will have.

What to do?

  1. Go back to your customers
  2. Find out why they kept buying (or would buy !)
  3. Discover your Value Proposition. Articulate it clearly.
  4. Build your brand around it and create a culture.
  5. Get Marketing
  6. Make sales
  7. Now do it all again !

Customer ->Proposition -> Brand -> Marketing -> Sales

Notice.... customer comes first.

There are only two destinations at the end of your marketing activity. Brand Value and Sales. And, hopefully, it's both.

If you don't have a brand story. If you don't have an over-arching powerful (i.e. valuable) Value Proposition and if you don't absolutely, truly, deeply know why customers come to you rather than someone else... then you can only compete on the 3 poisons of business:

  1. Cheaper
  2. Faster
  3. Better


And if you can't completely prove that your product is Better (and in many cases, it's not), you are on a hiding to nothing.

Anything else is just a furniture moving, fiddling, fiasco so focus on what you want... not what you don't want... and start with your customer.

Read 410 times Last modified on Friday, 29 December 2017 15:38
Adam Clark

Adam is a Business & Marketing Consultant, Trainer & Mentor. He helps businesses owners and corporate teams to become fearless in their execution and, as such, achieve sustained success. Over the last 20 years, he has worked with hundreds of SMEs as well as working for global oil giants, global sports brands and many public sector organisations.

Cookies make it easier for us to provide you with our services. With the usage of our services you permit us to use cookies.
More information Ok Decline
Cron Job Starts