Here’s a great question for business owners to ask themselves: “Would people miss my business if I stopped trading?”
One of the best investments you can make in your business, is to constantly look for ways to be irreplaceable. Think of it like this:
- If people want carrot flavour ice cream and you’re the only person who makes it, carrot ice cream lovers would miss you like crazy if you stopped trading.
- However, if people want a predictable, good quality training provider, designer or consultant, etc., it’s relatively simple for them to find another good quality provider.
Not easy, but required
As a small business owner, there is enormous value in finding your equivalent of carrot flavour ice cream.
By being hard to replace, you give your existing clients no reason to look for another provider. Additionally, it is a great deal easier to successfully market a service, which offers unique value.
No, it’s not easy to develop a product or service that is irreplaceable. That’s why your competitors are not doing it and why the opportunity exists for you.
However, if you want to retain more of your clients, to generate more word of mouth recommendations and also earn the fees you deserve, it is required.