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Monthly Buzz #20
October 16, 2003

Creating Differences to Create Great Business

If many businesses perform the same tasks, offer the same services at similar prices, how does one become a leader and the other not? They create differences to create the position as the industry leader or the best family-style restaurant in town or the most reliable and convenient dry cleaning business.

Think of Colgate and Crest toothpaste. Essentially they are the same product and they perform the same functions—-preventing cavities and cleaning teeth. Yet Crest is the number one toothpaste. Why? Because it decided to position itself as the choice most dentists recommend.

Have you given thought to what it is your business does? Consider why you started your business. What did you want to do? Were you hoping to create a better product than what was readily available? Were you interested in creating a family business? What is it about your business that current customers keep coming back for?

Answering these questions can help you create the differences that will set your business apart.

FEATURE:
The 4 Ps of Positioning

BUSINESS DEVELOPMENT CORNER:

TAX BRACKET:
Nominee Income and IRS Tax Forms

 

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