Step 4: Know What Really Sets You Apart Before You Go to Market
Originally written by Dan Doescher. Updated by Tom Doescher.
Note: If you missed the introduction or earlier steps in this series of blog posts, please click here to read it.
For years, my big brother Tom and I were intrigued by businesses whose leadership was convinced their company was unique in certain ways — and then, upon further research, we found the contrary to be true.
That is not meant to be harsh. It is actually very common.
Many companies describe themselves with phrases like:
“We provide great service.”
“Our people make us different.”
“We really care about our customers.”
“We do quality work.”
Those things may be true. But they may not be unique. And if your competitors are saying the same thing, your potential customers may not understand why they should choose you.
Successfully attracting new customers or clients requires a clear understanding of what you do, how you do it, and what truly sets you apart.
That seems simple enough, right?
But is your mission or purpose in writing? Does your team understand it well enough to explain it? Even more importantly, do they embrace it?
Some call this process strategic planning. Others call it SWOT analysis:
Strengths: aspects of your business that provide an advantage over others.
Weaknesses: aspects of your business that put you at a disadvantage.
Opportunities: aspects of your business that could be leveraged for further advantage.
Threats: outside factors that could cause difficulty.
Regardless of what you call it, it is a necessary process. I would strongly encourage you to engage your team in the effort.
Be careful, however. This kind of process can take on a not-so-helpful life of its own and backfire unless you have given it plenty of thought and preparation.
A few considerations:
Include the appropriate people — the approvers and those who will be responsible for implementing the plans.
Do not include so many people that you stifle input and candor.
Plan the timing for the entire process, from beginning to end. Include lock-down dates and get a firm commitment from participants.
Consider an offsite meeting location to avoid daily distractions. Perhaps one of your company advisers can provide a conference room.
An outside facilitator can sometimes be useful, especially if your team needs help asking hard questions or challenging assumptions.
Warn participants that homework before or between sessions may be necessary.
Commitment by all, backed up by accountability, is key to getting this task accomplished.
Ultimately, you are trying to come out of this process with action plans — practical to-do lists that focus your team’s efforts on bringing in more new customers and clients.
Some useful outcomes might include:
Can potential customers clearly understand who you are and what you do?
Can your team explain how the features of what you do create real benefits for customers?
Do you have relatable success stories that demonstrate your value?
Can you clearly describe how you serve customers, including roles, communication lines, and where “the buck stops”?
Can you demonstrate any synergies within your company that will benefit customers?
Once you have engaged in this process, you should be encouraged by increased confidence and a recommitment to leveraging your strengths. You should also be more aware of areas to shore up, or perhaps avoid altogether.
You will also be more informed about your competition and the related implications, which we will talk about next time.
A final thought: before you go to market, make sure you have done the internal work.
Know what you do. Know how you do it. Know what truly sets you apart. Know whether your team can explain it clearly.
For many owner-operated businesses, this kind of clarity can make the difference between chasing any new customer and attracting the right new customers.
