"Using Customer Knowledge To Boost Small Business Profits."

Small Business Market Identity

“Could you please make me a Xerox?” asked a man to a store clerk. It was the 80’s. The reply was a photocopy of paper the man gave the clerk.

People used the term “Xerox” to mean the same as “photocopy”. Xerox Company had a strong market identity. 

So strong it changed the English vocabulary. Vaseline is another brand that replaced “anti-dryness” in the dictionary. 

A Houston small business I saw struggled with their identity. Let’s call it XYZ here.

I asked the business owner what his business did. And he replied: “We solve technology problems in the electrical market.” 

He had a clear answer. It looked like it had a niche in the market.

But when I dug deeper, I found more about his customers. I asked one of them about XYZ. He termed it a “Systems Integrator”. 

A “Systems Integrator” is a commodity. That’s why that small business struggled to make profits. 


Business Coaching Houston To Develop Small Business Market Identity

The small business owner did not invest time to develop a market identity.

So how do you really develop your identity?

First, find out where you are in your small business. Next, find out where you’d want to be in 2 years, 5 years and longer. 

Ask yourself: “Is this a unique market space?” Then craft a unique message for the market. Support it with values, culture and group your small business team.

Follow up. Act.

Because if you don’t define who you are, someone else will.

Be clear. Are you going after value? Or is it cost?

Make it clear to customers. Make it appeal to your employees. 

Make it transparent to them so they decide how to spend their time. And do it quickly.

If you do, your small business customers will see your business as responsive. Customers will see your ability to deliver exactly the services and goods they need.

Align customers to your actions long-term. Preserve your profits.

Lead your small business so the entire team moves it forward. You’ll gain from crafting your identity.

Written by Suresh Iyengar, P.E., President, Business Unit Execution LLC––“Explosive Business Coaching Houston Results For Small Business”. Want even faster results? Are you ready to learn? Call 281.410.5375 and speak to your Profitability Coach Houston today!

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