Snuff out the competition without leaving a mark!
Does the competition drive you crazy? Are they relentless about
taking your clients away? Are customer loyalties becoming a
thing of the past?
In our ever changing world, it seems securing business these
days comes down to, who will provide the most services at the
lowest possible price.
To add insult to injury your previously served customers have
taken on a new militant attitude about obtaining your services.
They now believe they have a license to set the pricing, dangle
it over your head and threaten to call someone cheaper if you
will not meet their demands.
It seems the rules have changed and if we are not willing to
make the adjustment our businesses will continue to feel the
impact from the competition.
If the title to this article seems a bit brutal, harsh or to
blunt for your taste buds, then take a moment and reflect how
your business has been affected by your competition. How that
before they came along your were not being hounded about your
prices.
Think about how every year several more new businesses come from
out of nowhere. They don't advertise, won't get the proper
licensing, refuse to be properly insured and have shamelessly
solicited your customers. I can assure you that the competition,
given half a chance, would not think twice about putting you out
of business if they knew how.
A burr in your britches? I'm thinking, "OH YEAH!"
So how can you snuff out your competition without leaving a mark?
To begin you must first realize that all successful businesses
have always played by a set of unchanging rules.
1. Be #1. 2. Never reveal your business strategies or tactics.
3. Look for business that no one is doing or is willing to do.
4. Give more than what the customer is expecting. 5. Follow-up
1. Be #1. So what do I mean by being #1? It means you never rest
on your laurels. Remember you are only as good as your last
transaction. You must always excel at honing your skills, always
increasing your knowledge base and developing long term customer
relationships. This attitude sets you head and shoulders above
the competition.
2. Never reveal your business strategies or tactics. I don't
care how well you know a fellow business person or how long you
have known them. Always remember what P.T. Barnum said,
"Some men have a foolish habit of telling their business
secrets. If they make money they like to tell their neighbors
how it was done. Nothing is gained by this, and oftentimes much
is lost. Say nothing about your profits, your hopes, your
expectations, your intentions. And this should apply to letters
as well as to conversations. Goethe makes Mephistopheles say:
"Never write a letter nor destroy one." Business men must write
letters, but they should be careful what they put in them. If
you are losing money, be specially cautious and not tell of it,
or you will lose your reputation." - P.T. Barnum
3. Look for business that no one is doing or is willing to do.
Here is where your competition will strike out. They are always
looking for what everyone else is doing so they can copy it and
make a fast buck. If it is too detailed or involved there is a
greater chance of you securing that niche market and exploiting
it for greater profits.
4. Give more than what the customer is expecting. Most of the
competition will only do just enough to get the job. The smart
business person goes beyond what was stated to do. You are
looking out for your client's best interest. This initiative
builds additional value into your service. It also shows your
customer that you value them as a client and not just a
transaction.
5. Follow-up This area is where all businesses fail the most.
Simple gratitude goes a long way. When someone took the time to
call you or send you a "thank you" note for doing business with
them, you appreciated the extra effort. So why not do the same
for your clients.
Now that you have a clearer understanding of the business rules
let's focus on:
How to snuff out the competition without leaving a mark.
Now before you ask, "Is it legitimate or easy to do?" I can
assure you that what I show you will prove to not only be
legitimate and easy to do, but can be implemented before your
next business day.
Will you need some help getting started? As a matter of fact the
very people you employ will be the ones that will assist you and
will be the driving force in securing more business.
1. You will begin having 3 staff meetings a week with your
employees. You must rouse the men and women of your employ to
strive for perfection in their work and tell them they will be
compensated for their achievements.
2. You must set daily, weekly and monthly goals for them to
achieve. A simple daily goal is to make contact with 5 different
customers you have not served. This can be done by phone or in
person. By doing this the public is beginning to learn of your
company in a more personal way but the competition has no idea
what you are up to.
3. You want to institute some good healthy in-house competition
between the employees. It's great for moral, builds a bond of
loyalty to your company and keeps those in your ranks striving
to out do each other by meeting your goals.
4. Encourage your employees to speak up and let you know what's
bugging them. Their opinions are usually valid and you should
take note of what is being said. Do this in your staff meetings.
Then invite others to respond. It is better to get a problem out
in the open to prevent harbored and hurt feelings.
5. Let's also not forget to reward them for their efforts. No
matter the progress they make, you want your employees to be
glad they work for you. The best way to reward an employee is
with a monetary bonus. People appreciate getting extra money for
doing a good job.
6. You must give your top producers special recognition, because
they are the ones setting the standard. They are building your
company and assisting you to become more of an anchor in your
community.
I'm sure that right about now you are wondering what happened to:
Snuffing out the competition without leaving a mark.
You might even be thinking, "Why are we talking about employees
and not concentrating on who is hurting my business?"
Before you setout to undermine your competition's efforts, you
must have firsthand knowledge of what your employees know and
correct it or improve on it. Building them up to be stronger
becomes another asset to your company. Their state of mind and
how they view your company could also benefit your business or
cost you business.
A well oiled machine runs more efficiently when all of it's
internal parts are constantly checked to determine if they are
working properly. When a company wants to be a better producer
of goods and services and snuff out the competition without
leaving a mark, it is imperative that all who are involved in
the process are at the top of their game.
For this to happen it is up to the owner or manager of that
business to motivate their staff to become a team. A company
that has a staff working as a team will become stronger, vibrant
and harder to defeat. In turn the staff will come up with new
and fresh ideas that can produce more revenue and bring in more
clients.
While your competition is trying to make a fast buck you will be
busy building your army that will snuff out the competition
without leaving a mark. Your competition will simply not know
what hit them.
Copyright 2005 Woody Qui