Welcome to the latest series on JosephSangl.com – “Lessons Learned While Starting A Small Business”. Starting a small business can be tremendously exciting and frightening at the same time. One of the most common trends that we see among small business owners is that they are very good at providing their product or service, but they are not so skilled at the “business side” of doing business. This series will focus on some of the key lessons we have learned from meeting with many small business owners as well as truths we have learned as we have built a small business.
Part Two – You have a much greater chance of success if you have a great product/service.
This seems almost too fundamental to even write, but you would be surprised at the number of people who forget this. You can do great construction work, but it is worthless if you fail to show up when you say you will. If you are selling a new computer device (one that calls your cell phone and also sends a text message when your freezer has stopped working), you will not receive repeat orders if it does not send the message when the freezer actually fails. Great products and services generate one key thing that we can not generate on our own – positive word-of-mouth press. When others tell others about their awesome experience with your product, you have a great chance at succeeding.
Here are some good questions to ask about your product/service:
- What makes our product/service better than our competitors?
- How are customers finding out about our product/service?
- How can we leverage positive customer feedback to reach more potential customers?
- What is one thing we can do right away to take our product/service to the next level?
Bottom-Line: Great products/services vastly improve the chances for business success.