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What Does Your Business Stand For?

March 23, 2019

What Does Your Business Stand For?

When your customers know, like, and trust you and know what you stand for, they will always choose your products and services over the rest. You need to offer good service and reliable products at fair prices, but this is simply part of what your business stands for. Sometimes a business will incorporate what they stand for in a logo, such as “Serving the Community for 30 Years” or “A Brand and Service That You Can Trust.” Other times their patrons over the years have simply internalized the fact that their business stands for honesty, integrity, and fair dealing.

What Does Your Business Stand For?
What Does Your Business Stand For?

Getting the Message Across

The small business that has been operating successfully in a town or neighborhood for decades may simply need to continue doing business in the usual manner to remind people that they stand for fair prices, honest dealing, and the rest. But, when urban sprawl engulfs a small town it is now part of the suburbs and the competition moves in. Then the small business needs to market itself, not only to gain the business of new folks in the area but also to keep the business that it has. Of course, their advantage is that they can simply remind old customers and inform new ones that they have been“Serving the Community for 30 Years.” When promoting your business, your unique service proposition will include the fact that you have been taking good care of people and their parents and grandparents for decades.

But, even when times change, what you do every day tells your clients who you are and what you stand for. Goodwill can be lost as well as gained or held. It is important that when you bring on new employees that you train them not only in the mechanics of the job but in the culture of services and product quality that has made your company successful for so long.

Getting the Message Across
Getting the Message Across

Do You Sell Things or Help People?

The retailing giant, Wal-Mart has a slogan that says, “SaveMoney, Live Better.” They do sell lots and lots of stuff and have made the founders rich. But, they do help people buy the necessities of life for less and therefore live a little better.

A friend of ours tells us about his father who was a small town, Mid-Western businessman. The father was an independent insurance agent and realtor, most of whose clients were family farmers. On a Saturday night,the office was open until 10 pm as farmers did business, wives and older daughters shopped, and the kids watched a “Western” at the Lyric Theater for ten cents each.

Very commonly the father did not arrive home until past midnight as he stayed late discussing a piece of farmland with a farmer and son who were considering buying more acreage. Was there a crop failure on that land in the driest years of the 1930s? Was the land properly tiled so that in a wet year the corn and soybeans would not be damaged by excessive moisture?

The father never made a cent during those discussions but he took care of his clients and neighbors by sharing his knowledge. And, of course, when the farmer and son decided to make the purchase, the father got the commission ($1 an acre) and insured their crops, equipment, and buildings forever after!

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Small Business

Running a small business can be very rewarding and profitable. And, running a small business can be difficult as you deal with all of the details. In our Small Business section our aim is to help you put things in perspective, learn to do the most important things first, and find the hidden costs that sap your profits and your strength. Small business sales can be strong but your small business profits may not be. Read our articles in this section for help in avoiding small business pitfalls and realizing growing profits.
Profit First helps you experience profit.

Ronald B. Allen
CEO, Profit First Professional, Fix This Next Founding Advisor
Principle of an accounting firm that’s committed to educating business owners on their financial health, providing a trans-formative strategy and helping them experience their profit!