As a service/ product provider, your goal should be to become the only viable solution to your markets problem – to be more trusted and respected than any of your competition. This doesn’t happen by luck – you’ve got to intentionally setup your business this way. One of the best ways to do this is to protect your market.
Protecting your clients from the errors of your industry: Every industry abuses it’s market in someway or the other. Industry leaders create business around these industry weaknesses. By speaking up and against bad service and deception in your industry you get on the customers side. And that’s where you should be.
A personal example: As graphic designer years ago, I did this by educating the market about how Ad Agencies and graphic designers cheat them. I showed how big agencies rely on design without marketing or strategy. I showed them how to avoid being overcharged. I show them how to interview an agency to ensure they were the best for the job.
I can tell you now that a good many competitors didn’t like what I was doing. I was giving away industry secrets, and forcing them to work harder for their clients. On the other hand my market loved it. And so did my wallet.
Benefits: I established trust and credibility by helping the market make better decisions. Others were mere designers, I was a trusted advisor. More credibility means you’re more in demand. Your service is valued more highly. You come more highly recommended.
Attacking your industries weaknesses spreads word of mouth about you being different. “Finally someone who understands me”. “Finally someone who cares about more than just the money.”
A word of warning – I don’t recommend attacking specific businesses. You don’t have to trash someone else to get ahead – just speak against consumer abuse.
Here’s how you can use this for yourself. Ask;
- 1) What are the common mistakes and misconceptions the market has that leads them to disadvantage?
- 2) How do your competitors take advantage of the ignorance of your market?
- 3) How can you take advantage of this weakness in your competitors to win the trust of your market?
5 years and many businesses later, I still use this same strategy with success. You can too. By protecting your market, you become a trusted advisor to them. They trust you with their businesses, their dreams and even their money.
Setup your business, structure your marketing and position services around protecting your clients. You’ll make a few enemies, but you’ll also make some profit!
Max Soutter
P.S. Need help setting up your business? The Business Setup Kit is for you. Have a look at our brochure or call the Business Setup Group for more info.
