According
to data from the U.S. Census Bureau and trends from the U.S. Dept of
Labor, there were 27.5 million firms operating within the United States
in 2009. Of those firms, about 99% are small businesses (firms having
fewer than 500 employees and nonemployers).
The
recession has created an unprecedented number of startups and small
business owners. Millions of people who were kicked out of the shelter
and safety of an established entity, were forced to figure out how to
make it on their own. Fortunately, many of those who were laid off or
downsized have been finding ways to make lemonade out of the lemons
they’ve been given. How? Entrepreneurship.
With
the recent explosion of small businesses; many that likely offer
similar products or services, how does one business compete against
another? One word - differentiation.
To
a potential customer there may be no obvious difference between your
products/services and those of another business. That’s to be expected;
don’t panic. At the same time, don’t leave it up to potential
customers to identify what makes your products or services different.
Tell them.
Use
clear and concise messaging that creates differentiation. Profits keep
businesses alive and effective messaging helps them grow.
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