You can’t be all things to all people
Have you ever bent some of your own rules to get a sale?
Have you ever felt compelled to rapidly expand your offerings to match your competition?
If so, you may be suffering from “Everything to Everyone Syndrome” and you’re not alone.
It’s understandable to feel like you need to do what you need to do to get customers. But when golden rule breakers like these become regular occurrences, your business won’t be at its best to succeed.
Here are 4 ways to heal:
1. STOP and recognize you can’t out Walmart, Walmart.
Big box stores will often outprice you and have more inventory than you can hold, so there will always be an imbalance. Shift your focus away from trying to compete with them and instead ensure your offerings line up with your core business. Even when you carry similar products your advantage is being smaller and nimble to quickly adjust to the unique needs of your clientele.
2. Niche down
Go narrow and deep with your knowledge and expertise in the solutions you offer. This will raise your credibility in becoming a subject matter expert.
3. Highlight solutions you have to specific problems
Listen to your customers. They will tell you exactly what they need. Align your solutions to them. Customers looking for companies like yours that demonstrate a high level of understanding for their specific problems could be your client for life when they find you. This will be your sweet spot.
4. Be the local “Walmart” of your industry
Another advantage to being a smaller business is being able to personally connect with your customers. Forging one-on-one relationships with them by knowing their names, personal interests, purchasing history, and other first-hand data that you collect AND OWN, is extremely powerful.
Need help with strategies for your business? We can help.
We offer 1:1 business coaching with tailored solutions. Schedule a discovery call to get started.