So, how do you know when to make a change in your offerings?
Suppose you want to serve your customers better now and in the future. These days business can be more challenging than ever. The supply chain issues, the difficult news reports, inflation are just a few of the current hurdles. It’s hard to keep our spirits up and even harder to keep our sales going strong.
It can be tempting to add new products or services that have flash or something the competition has started offering. There’s always a new trend on the horizon.
The very first step you should take when you are feeling lost and unsure about your current and future offerings is to study your market. Your market is those you currently serve and those you want to help.
I have found that one thing that always works is to study your current and potential clients. What do they need right now? The next step is to figure out what you can do, change, or expand to meet their needs better.
Once you begin serving their most demanding needs, you can continue to watch and learn. Watching and learning will help you meet the demands as they come along. Because you become customer-focused instead of trend-focused, you will be more creative and innovative.
The beauty of small businesses is the ability to pivot quickly and add more and more value. But, you want to be careful not to rush to market the things that make little difference or, worse, offer nothing more than flash.
You don’t have to follow your competitor. Instead, with some good questions and careful thought, you can be the one to follow. Yeah, even if you are small.
Don’t get stuck in doom and gloom thoughts. Please don’t get overwhelmed with possibilities or lack of them. Instead, take that time to look at your current customers, your current offerings and ask yourself what would make it better for them?
Next, go to work on adjusting. If you ask yourself this regularly, you will find you have a better hold on what your market needs than you even realize. Build your offerings around what’s important and relevant for your market. You will be able to duplicate it over and over with excellence and at a profit.
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