Jump Start Your Business In 3 Easy Steps

It’s natural. We skip ahead and apply previous methods/processes that have worked. However, in today’s rapidly changing world it is more important than ever that you don’t skip ahead. In fact, in order to jump start your business you and your leadership team must go back to basic. That means creating clearly defined, detailed business objectives goals. Only then can you successfully apply these 3 critical steps:

  1. Discovery
  2. Evaluation
  3. USP – Unique Selling Proposition

Discovery.  A thorough and detailed review of your business and your competition including 3 primary (selling the same goods/services) and 5 secondary (selling similar or competing services) competitors. 

For example: If you are an attorney specializing in family law than your 3 main competitors would be attorneys who also practice family law; who are in proximity, with the same length of experience and have similar American Bar Association ratings.  Your secondary competitors provide similar services, such as an estate planning attorney (also provides family related services); a general practice attorney, or a large law firm that has attorneys working in many legal areas.

During discovery it is imperative to be thorough identifying both your own strengths and weaknesses, as well as all your competitors strengths and weaknesses, incorporating trends currently occurring and that you anticipate inside your “family law” practice, the legal industry and the business environment (zoom meetings, versus in person appointments and proceedings).

Evaluation:

Carefully and thoroughly compare your findings of your own business to your competitive set. Review, identify and evaluate similarities and differences in the services, products, pricing, marketing etc. that your business provides. Identify internal and external challenges and pain points that you face currently and anticipate in the future. Repeat and follow the same steps for your company’s and your competition’s strengths and advantages.

Don’t forget to gather your customer comments, identify unmet needs in the marketplace. Listen and look to find new opportunities to grow your market-share.

USP: Unique Selling Proposition(s):

Transform and Interpret the data identifying your business’s greatest assets, strengths and opportunities.  Clearly define your company’s unique position in the marketplace = what customers’ need and are in search of, and what your company offers that your competitors do not.

Understand how your company stands out and what specific benefits your company provides in order to grow your market share and jump-start your business.

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elyse@excellentresultsconsulting.com