Business tip 4: Harness your drive to succeed Motivation or channeling your drive to succeed is the final takeaway here. A lot of people have natural talent, but it takes more than that to be wildly successful. It’s not enough to recognize you have talent – you have to have the motivation and discipline to work toward your goal every single day. As you work on innovation, marketing and differentiation, you gain the power to change your offer, change your business and change your life.
Business tip 3: Set yourself apart from competitors Differentiation means knowing what business you are really in, instead of merely focusing on what product you’re selling, and analyzing the facts to discern what business you should be in. For instance, one of the things that’s made Starbucks so successful is that they recognize they’re not in the business of coffee–they’re in the business of bringing people together. Once you have the right information, respond accordingly and highlight what sets you apart from competitors to your target audience. What business are you really in? How do you enrich the lives of your customers?
Business tip 2: Create an effective marketing plan Marketing can make or break your business, which is why you have to ask yourself the following questions: Where does your product add value and what do your customers really want? Who is your ideal customer, and what’s the best way to reach them? Even more to the point, beyond your ideal customer, who is your customer right now and how can you give them what they want? If you need to, pay to gather the data you need so you can find the people who need your product or service. The best product or service in the world will never be used or appreciated without great marketing. Marketing exposes your business to the masses and makes people aware of your offerings. Without a solid marketing strategy, you could have the greatest business in the world but no one would ever know about it. Marketing is the essential tool you use to amplify your business’ message.
Business tip 1: Always strive for innovation An innovative business meets the needs of its clients in a unique way that no one else can master. Nowadays, the word “Google” is synonymous with using a search engine, but Google wasn’t the first search engine online. Why has the brand been so successful? Because Google was able to provide real value to its customers in a way that other search engines could not. They innovated, improving and expanding the offerings of other search engines, and ultimately became a dominant force in the industry. If you want a sustainable business, you should always ask how you can innovate aspects of your business, offer value to a larger group of customers and reevaluate from there.