When you run a small business it's very tempting to do your very best to be all things to all clients. This sounds great as a concept - being a one stop shop for your clients - but you run the risk of becoming a 'Jack of all trades but a master of none'
It can show a lack of direction within a business.
It can indicate that you don't know who your target customer is for your business, which can affect your ability to offer the right products or services.
Honing your business and being very specific is key.
Jason Cornes, Business Mentor in Hastings and bestof Hastings member, says that one of the common fears or objections that business owners express to him is that by specialising they will lose opportunities for work or turn customers away in what is a difficult economic climate. The fear of maintaining and growing a business is very real.
But the reality is that developing a niche in which your business neatly sits is often an excellent strategy to grow a profitable small business. It helps play to a strength in that you can move with relative speed as compared to a larger business that by its very size can be much more cumbersome.
So how do you start?
The best way to begin is to take a step back and identify your target clients. This will generally be a specific group of individuals or businesses with an issue that will be solved by using your products or services. Once this group is identified, work out the best way to reach out to them and take the most appropriate course of action to attract them as customers. By proactively servicing this niche market you will gain competitive advantage over other businesses in your field. It will help you grow your business, as opposed to hinder it.
The initial research phase can be quite drawn out as it can take time to properly identify your ideal target audience, but a little leg work goes a long way. Once you've established your niche then you'll find you have much more focus and clarity on which direction your business should take. Being able to take decisive action comes naturally as a result of this focus. Your marketing and social media campaigns can be much more targeted which will lead to your business attracting more of your ideal customers.
Simplifying your services makes creating marketing campaigns much simpler as it's much easier to brand your business. Getting the right message across is simpler, and then by default it's easier for the customer to understand too. All of this means it becomes much easier for customers to say "yes" to your business.
There's also the element of perception. If you're seen to be a leader in your field with specialist expertise, you are much more likely to be viewed as offering a higher quality of work and as a trusted partner.
If you need support in working out your business strategy then Jason Cornes can help. Jason offers business owners safe, confidential, non-judgmental space and solution focused support and advice to help you get from where you are to where you want to be.
Give him a call on 07842 339639 today.
Member since: 22nd March 2018
Cale is the Owner of 'thebestofHastings', the award winning franchise, providing integrated marketing solutions to SMEs, connecting to the Hastings community and promoting local events in 1066 Country....