As most business owners are aware, competitors are a major force to contend with. No matter what type of company you run, competitors will be trying to take away your customer base.
That’s why it’s important that your business offers something special that sets you apart from your competitors. This is especially important when you’re trying to sell your business, since buyers don’t want to take over a company that blends in with the rest. To increase your chances of selling your company for a nice profit, it’s a good idea to distinguish it.
If you’re stuck on what you can do to get things moving, here are 6 questions to ask yourself:
- Could You Make It Easier for Your Customers to Purchase Your Product or Service? If it’s a hassle for customers to give you their money, it’s likely that they will get frustrated. If you can streamline the process, you can save them a headache.
- Is Your Business Portable? Try making it easier for your clients to access your products or services no matter where they are. That could give you access to a much larger market.
- How Can You Better Customize Your Services? Clients and customers like when you take extra care to make a product or service fit into their unique life.
- What Can You Give Your Customers That They Can’t Already Get? Is there a service you can provide to your customers that they can’t access already? Or perhaps, a different set of customers for whom you can tailor your services?
- What Can You Add to Your Services? If there is another service you can provide to complement the one you already offer, that can give you an edge over competitors that stick to the usual. You can also see if there’s a way to make your current products and services larger or more all-encompassing.
- Is There Anything You Can Do to Improve the Quality? Clients will notice if the product they’re used to increases in quality. It will be a pleasant surprise!
Another great method for getting ideas is to use the internet to your advantage. See how similar businesses in other markets set themselves apart and mix and match to suit your client-base.
And when in doubt, there’s always the option of contacting The Bridlebrook Group