The 3 Biggest Business Secrets

3 Biggest Business Secrets | SA Men

It is a truth that should be acknowledged universally that an entrepreneur in possession of a good business must be in want of a fortune. Working with hundreds of entrepreneurs on a daily basis, it becomes clearer and clearer to me that there are a mere three principles to be adhered to for a business to be successful. This is the holy grail, but if by chance it doesn’t work out for you like that, let me say that there are always exceptions to the rule. But the rule is there to indicate a certain likelihood. Differentiate your business Call it the X-factor, the USP, the differentiator or the secret sauce, but you have to stand out from the rest. If you are vying for the same transport contract with ten other companies that all claim to have good service, the best prices and the most awe-inspiring staff, it is crucial to stand out somehow. You will have to tell the client why they have no choice but to choose you. You should start your sentence with “Johnny’s Transport is the only transport company that …” And here you need to make it count. For instance, “…that has a 12-hour guaranteed service”, “…with not one truck older than two years old”, “… that gives your client a bunch of roses with the delivery note.” And the more differentiators you can stack up, the better. You can fish for differentiators in the experience pond, the repeat blue-chip-client pond, the special-equipment pond or even the qualifications pond. But you have to fish. The longer your list of USPs, the stronger your case. Specialise Ensure that your service, product and/or business specialise. Businesses that specialise do better. They can also charge a higher price. Be the one your competition comes to when something is too difficult for them. In the same way a medical specialists can charge double the amount your GP charges is because they have specialised in a certain field. Be the only company with 12 cubes tipper trucks and concentrate to do that well. Once you’ve secured your business as a specialist in that field, you can move to the next field. Sell Why, oh why, do some entrepreneurs not sell? Your shoes have to hit the tarmac daily. The phrase “I don’t like selling” is not acceptable in entrepreneurship. Know what you are selling and be able to get this message across quickly and simply. That is, without jargon or trying to sound clever. And know who you are selling to. If you know your target market is 45 to 55-year-old coloured women who live in Gauteng at heights between 1650 and 1680 meters above sea level, you know how to put your sales message together. Refine your target market diligently. Learn to sell. The more you try, the better you will become. If you suck in the beginning, so what? Continue trying till you get it right – you will. Even a broken watch is right twice a day. Fight in the trenches like a bulldog. Don’t give up. Some clients only see your value after the 22nd visit. Honestly, solid small businesses concentrate on the three secrets above. You don’t have to be Jane Austin to make a fortune, just follow these simple rules.