It’s easy to operate an ice cream stand by the beach, especially if you’re the only franchise on the sand. You have every advantage, right? It’s hot. Visitors are feeling carefree and uninhibited. Your ice cream cones are a ready symbol of living the good life.
But what happens when the beach is full of ice cream stands? And what if the ice cream stands from other beaches are hand-delivering better ice cream cones to your location?
You could drive your prices down, but every wise entrepreneur knows to offer a premium experience with the best customer service on the boardwalk. The right touches will allow you to offer your ice cream at a profitable price.
This is the approach that you should take in a world where your products and services are in competition with people on a global scale.
Invest in Your People
A premium offering depends, first, on the people you hire to embody your business.
People are attracted to faces, names, and personal stories. Global competition can scarcely deliver on better promises unless they are able to deliver with hands that people like, know, and trust.
We recently declined an offer from a company operating out of central Europe. It wasn’t easy because they were likable. But we prioritized the customer service that another company could provide to our team because they were in the same time zone, with workers operating in the same rhythm as us. Both companies had a great service with friendly and trustworthy employees, but we went with the one that could work with us naturally.
If you want to overcome the advantages that exist in places where it takes less to compensate an employee, you’ll have to bring more to the table, and that means prioritizing the wellness you cultivate in your people.
Fight Hard for Visibility
Information is abundant in a global economy, but so is information overload. Your fight for visibility will be harder than it was for businesses in the past. You must leverage every communication channel to stay visible to your customers.
That can be overwhelming, but you can fight brand decay in all the noise by leaning into the fight for visibility intelligently.
We do this by actively searching for other businesses and brands that are aligned with our goals, but not in direct competition with us. We promote others so that we can reach their networks with our vision.
That requires attentiveness that only comes when our team has time to research what others are doing.
But where are you going to find the time to fight brand decay? Where are you going to find the time to develop messaging that will get people talking?
Lean Into Automation and Business Optimization
Our company is a tech firm committed to transforming the nature of work. That’s why we preach loud and clear about the advantages of business automation and optimization.
Retooling always has its detractors. People desperately wish to hold on to what they have. They will doubt the benefits of the new way of doing business. But when has stagnation ever justified itself with results?
We have the tools and the resources to make businesses more agile and competitive in a global marketplace. Our own team has worked tirelessly to present this message in a way that persuades people to embrace the future.
And what has embracing this technology done for us?
Well, we were able to automate some of our internal processes so that our leadership could take a step back and plan, prioritize, and precipitate the changes that needed to be implemented to help our clients succeed. We were also able to convince some of our current clients to trust us with automating their work so that they could let go of departing staff without losing their business.
What kind of business are you? Are you going to let a global marketplace keep you from excellence, or will you make every effort to make an impact on your market?
Tell us in the comments!