As a small business owner, I understand the difficulty of accepting there’s someone better than me. I think I have the best team. I think we have more dedication and passion than most. I even think that my team comes up with ideas before anyone else. Crazy, right? I know.
It is my right as a small business owner to think this way. I am allowed to think the world of my business and my team. What I am responsible for though is keeping my feelings and thoughts in check. For the good of not just me but my team and my business.
The “head in the cloud” mentality interests me. I have worked with many business owners who have unrealistic goals for their business. The truth of the matter is that you have to be unrealistic to achieve big goals, but there is a fine line you walk between what is attainable and what is far gone. To succeed you must understand that fine line.
Let’s talk about a harsh truth. You may have the best product out there, but who cares? If the market is already oversaturated with 10,000 similar products, how do you convince other brands’ customers to become your loyal customers? This is not an easy task, but I will give you some tips.
Research, Research, Research: Who are your competitors, What’s their strategy? What has worked for them? What hasn’t?
Identify the gaps in your industry: Find what is missing in your industry and fill it!
Find opportunities: What does your business have to offer that your competitors don’t? Or, put plainly - what does your company do better than everyone else? Look for those opportunities and maximize your strength.
Position your brand: Identify what makes your brand different from the others.
Develop a strategy: Set goals. Create a plan. And stick to it.
A core value for my company is “FIG first.” This means that my team and I put our personal feelings to the side to think about what is in the best interest of the company. This keeps us realistic - plain and simple.
Every so often we need a reality check. Nobody said running a business was easy. You must keep your head in the clouds while also keeping your feet on the ground. If you ever find yourself floating too far, my team and I are here to help. Remember your core values and put your business first.