BUSINESS IS SIMPLE

As small business owners your goal should be to simplify your business. Yes, starting and growing a business can be a complex process but the first order of business has to be to generate a profit. The best way to do that is to focus on one thing and put all your effort in achieving that “one thing”.

A business cannot be everything to everybody and expect to become profitable in a short period of time. The Tuesday challenge on June 4th asked the question, “What do you want to be known as?” The same challenge asked you to identify one specific benefit that sets you apart from your competition.

Based upon those two answers you can identify your most profitable target market. The next step is called communications and visibility. With a specific target your main goal is to get you story in front of them on a consistent basis.

The best method of communication is one that helps you establish yourself as the expert in the “one thing”. That requires a time period of offering support by using all the possible communication windows available to you. This should include direct mail, newsletters, educational sessions, blogs, and social media.

Note that I have not used the word “selling”. There is not instant gratification as far as getting new customers. The first phase of building credibility will take a minimum of three to four weeks. If you are following an action plan you have not become visible and established a beneficial communication system. You will also have established some direct communications with your market.

Buying your expertise will evolve once your expert status is established. That means that you will continue offering support after your first month, but you can now include the benefits of your expertise when they purchase your product or service.

This is a focused process with the purpose of establishing yourself as the go-to person in your field. The benefit will be in the sales and referrals that will become as reality a a result of this effort.

Implement this focused action plan. Forget other revenue possibilities. Do one thing and do it right. If you have done your homework in identifying your target market and your specific benefit, it will show up in your bottom line.

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Tips & Advice by Nick Petra, CFP – Founder of Strategic Duck and BizQuack