As a business owner, the best way to achieve choice and economic freedom for yourself starts with a combination of mindset and strategy. Knowing where you want to go and having a methodology to take you there.
To achieve pre-eminence and be number one choice, you have to take a stand. Be different. Go against the flow. Stand up for what you believe in. Become an outlier in your industry.
You must differentiate yourself in the eyes of your market so your audience knows exactly what you believe in, so that you naturally attract clients who resonate with what you have to sell and are happy to spend their hard earned money in your business.
Which takes guts.
Taking a stand gets you noticed. And getting noticed inevitably leads to the risk of controversy, ridicule and even ostracism from your peers, especially if you call out bad behaviour.
An excellent example of standing out comes from the Australian finance industry which is riddled with hidden costs and commissions.
A very small percentage of advisors and brokers differentiate themselves by being completely transparent in their dealings. These outliers charge a flat fee and rebate any commissions they receive.
Doing so attracts clients who understand they’ll pay for the service one way or another. They know that paying a flat fee means that the broker will always act in their best interest rather than chasing the largest commission.
So how can you differentiate yourself from your competition?
First figure out what the norms are in your industry. Do they really serve your clients in the best way possible?
A great way to find out is to sit on a metaphorical hill looking down at your client facing processes. Put yourself in their position, looking at every step from their eyes.
What would they be thinking and feeling at each point? Is trust being built or destroyed? What could you improve? Innovate so you stand out?
I’m sure there will be areas you can innovate. The only question then is are you willing to take the road less travelled and how could you communicate this?