The Under-Valued Business is Caused By its Owners, No One ElseThe service industry is made up of many different professions, many of which fall into the category of creative, artistic, or design. These same companies, often times, are also the most under-valued. How companies are viewed by clients, especially in the service industry is absolutely critical. The perception of the image projected from the company helps or hinders to justify the price for the service provided. Having a low price may get you more clients, but what type of clients are you attracting at that price point? The perception given off may be that the company is only as good as they charge. Companies in a highly competitive field such as design often get stuck trying to win bids for contracts based solely on price. They say that they provide top-quality service, but that is subjective and based on a client-by-client basis. So what really separates each company apart from each other? If they offer similar services and in the bid they offer similar time tables, then the only thing separating company A from company B is price. That is the worse strategy to use!
-Deepak Chopra Why Do Service Companies Under-Value Themselves?The truth is, many do not know they are under-valuing themselves amongst their competition. Many, fail to even assess the competition to see how they could set themselves apart! So for those of you reading this, this will give you an edge and your business an edge, if it applies.The companies that do not stand out amongst their competition are what is known as weakly differentiated. In order to understand why this happens, let's break it down. Let's study the people who make the business. After all, business is people. Your Perception Determines their PerceptionSimply put, as the business owner, if you do not 100% believe you offer the best quality service, how on earth can you market the business as that? Better yet, how can you get people excited to come work for you in order to continue to create the best quality service business in your industry? You can not. It is that simple.It all starts with you. Think about how you perceive yourself. What do you project outwards so that people will want to know more? In other words, what makes you, as an individual, likeable? What qualities attract others to you? Here are some examples. If you project a negative view on the world, people with that same view point will feel a connectedness to you, and you may develop a friendship or more based on the negative-world connection. However, if you are optimistic and proactive you will find yourself among like-minded people. This will only further your optimistic perspective and continue to justify it. Now, apply this to your business or to the business you are creating. What do you want your company to project to the world? A company acts like a person and interacts with people through its offerings. Project an image of likeable qualities that attract people into your niche and you have set yourself up for success. The Service Industry is Relationship BasedThis is to your advantage, if you choose to let it be. What does this mean? It's people. Relationships are key in the service industry because the service industry is about people providing services to other people. The better you understand people, the easier this will become.Think about when you meet an individual for the first time. You are getting a first impression of them. Instantly, within the first 30 seconds, you like them or you don't. If you don't, without them knowing it, you are viewing them based on how they can improve in order for you to then accept them.
|
