I discovered today that a local business is about to close down. The owner told me it was due to a lack of trade. This is happening, even though their service is provably better than many of their competitors.
So, why does it happen? Why does an above average business fail, when their lower quality competitors in the same town are thriving?
It happens because there’s an important difference between being the best quality service and the best selling service. This holds true in every industry.
In order for a business to thrive, we need to get strategic. The build it and they will come mantra is a lie. We need to build it, then market it correctly. That’s because being great at what we do, doesn’t mean people will magically notice us, trust us or want to spend their money with us.
We need to capture their attention, earn their trust and motivate them to hire us.
Because the business owner’s balance was wrong, they carried on working hard, wondering why things were not improving.
Once a business is delivering a great service, there’s no reason for it not to thrive. Just be sure to get the balance right: Do great work. But remember to capture attention. Earn trust. And motivate people to hire you or buy from you.