CFO Services | What Makes Your Business Unique
Business owners need to understand that what makes their business unique says CFO Services can actually be the reason why customers come to their business instead of their competitors. And how effectively they can markets that message will help them find the customers they need to stay in business.
However, business owners need to know how to find those customers. By figuring out what’s their differentiating factors are from their competitors. And then knowing who their ideal and likely customers are. In order to markets that message to the clients that are most likely to buy from them.
How an entrepreneur is going to find their ideal unlikely buyers according to CFO Services. is my understanding that every customer who purchases anything is essentially solving a problem that they have. And when an entrepreneur can figure out what problem their clients are solving by purchasing their products and services. They will be more likely to identify who their ideal and likely customers are.
And when they know what’s their differentiating factors are. By marketing that message to their ideal and likely customers. Will be an efficient way of marketing their business. They will attract their ideal and likely customers. Who placed a high value on the way their business is different from what is currently on the market.
However, many business owners may be very confused as to how to figure out what their differentiating factors are. CFO Services says it can be fairly easy to figure out. Once an entrepreneur knows how to do it.
The first thing that they should do, is writing a list of all of the ways that they are different from their competition. It can be big things such as their location, or specific products or services that they are offering. As well, it can be very small things such as payment methods and terms, or quality of products, materials or ingredients. Or how much training their staff has.
It doesn’t matter what the different factors are. Once an entrepreneur has written all of the ones that they can think of down. They should take another look at that list, and narrow that list down to three things that they want to focus on doing exceptionally well.
The reason why they need to pick three things says CFO Services. Is because if an entrepreneur tries to do all of those things exceptionally well. They won’t accomplish that goal. And they won’t do anything particularly well. By choosing 3, a business owner can make a name for themselves with their ideal and likely customers. Based on doing those things very well.
This is so important, that knowing their differentiating factors as well as their ideal and likely customers. Can actually influence their marketing plan, and the rest of their business plan. Which is why it should be included in the business plan.
But also why it should be in the executive summary. So that’s a business owner and anyone else who reads their business plan. Can see exactly how they are going to Market their business to find the customers they need to be viable.
More Than Just The CFO Services On The Line!
Too many entrepreneurs in Canada fail because they haven’t been able to find enough customers for their business says CFO services. In fact, industry Canada did a survey to find out why half of all Canadian entrepreneurs failed. And discovered that 42% of all failed entrepreneurs. We’re not able to find customers for their products or service.
likely because they did not have an effective marketing plan. Or perhaps they did not have a marketing plan at all. And less likely that they simply didn’t have enough customers in the area to support their business.
This makes creating a marketing plan that not only outlines their ideal unlikely customers. But also that outlines their differentiating factors is says CFO services. If its owners want to create an extremely effective marketing message. They need to know who they are marketing to. And what’s their message is going to be.
When they advertise and Market their differentiating factors to their ideal and likely customers. They will attract people who are looking for those differences. Because they’re being under-serviced by the competition on the market.
Unfortunately, business owners may not truly understand the different aspects of their business that can be used as differentiating factors. Or, that a competitive Advantage might also be a differentiating factor. Therefore, by understanding all of the different ways that their business might be unique. Can help them understand how they can use that to help market their business.
If a business owner wants to focus on a specific type of customer. That can be a differentiating factor. For example, an optometrist who wants to focus on children. A dentist who wants to focus on putting braces on adults. Or a restaurant that caters to vegans. These are all Niche markets. And can help an entrepreneur markets their business.
Unique features for their products can also be a differentiating factor says CFO services. For example, if an entrepreneur is an industry that typically does not offer warranties for their products or Services. They can set themselves apart by offering a warranty. Or, if their competitors only offer one year, they can offer two or three-year warranties to set themselves apart.
Other unique features might be an online portal for customers to order products, offering free delivery, taking a wide variety of payment methods and even different terms of billing can be impactful. For example, if an entrepreneur is an industry that typically bills hourly. They might offer flat monthly fees.
It doesn’t have to be great big huge things that make them different from the competition. But by focussing on the few things that they can dude if very well. Can help find customers who are looking for those things in a business. But can’t find them yet. When an entrepreneur does this, it can help them create a great marketing plan for their business.