Why Trying to Do It All Will Hurt Your Business and Make You Less Money
Are you trying to do it all? Don’t miss this advice on the business blog!
When your brand represents many different types of products and services, your potential customer doesn’t know what to expect from you. The misconception is that the more diverse the list of services you offer, the better the perceived value is to the client. You should have a diverse background of experience that roots you in your business, however your core should be clear. Floral and stationery and wedding planning and rentals all at once? That is a lot. How can you truly be the best of all of those at one time let alone productive! When you are promoting your business and someone stumbles across your instagram, Facebook page, or website it needs to be clear what service or products you offer in a few seconds. How do you capture your target market when you do this/this/and this?
4 Take Aways to Remember
1) Make Money: Don’t forget you should be in business to make money. How can you keep up with the many crafts and trades you offer as a small company and still turn a profit? Very few do.
2) Keep it simple: Stop trying to capture a little bit of many markets and capture a lot of one market. This will keep you more sane and help with point #1 ($$$). (And soon you might even be able to raise your rates!)
3) You can do it too, but why?: You may see your peers offering something you think you should offer, and decide to add it on to the list of everything you do… or you can be YOU and be better and be the best at that so you can make money. (referring to point #1 again ($$$)
4) Be Referred: Remember that if you offer too many services it will eliminate the companies and business partners that will be able to refer you business. You will alienate potential business from vendors who offer one of the many services you offer. Why would you want to do that as it relates to point #1 – it can take away from sales ($$$).
Do one thing and do it well. Don’t confuse your potential customer and dilute your brand. If you aren’t good at everything you claim to do, it will hurt your profits and your reputation.
Be memorable by being you and offering your best products and services. If you do too much they may not remember what it is you do do and why they should hire you.
For more tips like these and to learn how to take your business to the next level, reach out about my business consulting program. Can’t wait to connect with you!
“Keep It Simple” Print by Minted