The Fastest Way To Kill Your Business

A while back, the Railroad industry was approached by the airline industry when it was in its’ infancy.

The airline execs wanted to team up with the railroad industries to launch their airlines.

They valued the experience and… knowledge the railroad leaders had and felt it would have been a mutually rewarding endeavor. The railroad leaders told them in no uncertain terms that they were not interested in partnering with the airline industry. The railroad leaders felt that they were in the “railroad business” and could not see the possible connection.

The railroad leaders had lost sight of the fact that they were really in the business of transporting people and their products. The airline industry would have been a natural next step in the progression of the railroad industry.

And we all know what happened next. Today, the railroad industry is struggling to survive and the airline industry is alive and thriving.

Many times in a conversation with a small business owner I have met at a networking function I ask the question, “What business are you in?” Invariably I get a responses like, “I’m in real estate,” or “I’m in banking,” or “I’m in insurance”. But that kind of a response does nothing to distinguish them from everyone else who is in any of those same professions.

A better way to distance yourself is to use this small business marketing strategy – describe the specific benefits you provide to your customers or clients. For example, if you work in insurance, you could say you are in the business of providing peace of mind to your clients. If you are a wedding musician, you could say you are in the business of helping to create beautiful memories.

And finally if you represented Weight Watchers™, you could say you are in the business of providing hope to your clients. Another words, you are providing them with a way to get to the weight that would allow them to feel good about how they look and feel.

The key is to describe the specific end results you can provide to your clients.

Doing this will easily distinguish you from the rest of your competition.