The #2 Mistake Of Business Owners

To match competitors or not to?

“Hey Linda. I give great value to my clients and customers because I meet or beat my customers. But when someone in my industry runs a sale I lose that customer. What’s up with that??

I’m Linda Feinholz. I work with business owners who don’t want to get stuck in their business.

Today I want to talk about the huge mistake I see people make – focusing solely on their competitors.

Maybe you’ve already experienced it in your business? You’ve cultivated great customers. You add a ton of value. They give great feedback on your customer services. And at the end, you cannot depend on them sticking with you and your products and services. They say “thanks for the great service” and they shift to the least price seller.

AND if you try to compete on price, you feel weird inside but do it and THEN it becomes a race to the bottom. Straight OUT of profitability.

There’s got to be a different option. AND that’s what we need to talk about today.

Surely there’s got to be a way to get customers and get them to stick? Good thing there IS.

There is a framework we use with our clients to create what we call “monopoly control” in their market place.

Let me tell you about Dan and Diane. They’ve run a duct cleaning business for decades. It cleans the particles that settle into the air conditioning and heating ducts in homes and office buildings.

Now if you went out and googled ‘duct cleaning’ you’ll find all kinds of cheap service providers. Kind of what I call the “mow, blow, and go” folks, just like with gardeners.

But Dan and Diane figured out how to position their services so that they can charge 400% more than those low end folks, AND GET IT!

They did it by using the Monopoly Control framework to do 2 things:

The first things is you find a way of positioning your services around critical value created for your customers, a specific differentiation, but specifically in a way that their CUSTOMERS Care about.

What is important here is that you are providing a solution, and outcome, that makes a measurable difference to your customer and they VALUE it.

The second thing is you charge a premium price for it which lets you take the larger profits and spend them on marketing that reinforces your differentiation, over and over again.

Again, it’s not the easiest thing in the world to come up with that unique competitive advantage. But when you do, it measurably increases both the profitability AND the value of your business.

The more you create a unique identity and differentiation, the more valuable your business in the eyes of bankers, brokers and potential buyers.

I’d love to share more about how to avoid the mistakes other business owners are making in their businesses. You’ll find it at OnDay91.com/advantage

And if you know another business owner that would like to get more control, freedom and value in their business copy them on this. Let’s help as many people as we can have more choices you have about running it, transitioning it, selling it. Creating freedom for yourself.

To match competitors or not to?

“Hey Linda. I give great value to my clients and customers because I meet or beat my customers. But when someone in my industry runs a sale I lose that customer. What’s up with that??

I’m Linda Feinholz. I work with business owners who don’t want to get stuck in their business.

Today I want to talk about the huge mistake I see people make – focusing solely on their competitors.

Maybe you’ve already experienced it in your business? You’ve cultivated great customers. You add a ton of value. They give great feedback on your customer services. And at the end, you cannot depend on them sticking with you and your products and services. They say “thanks for the great service” and they shift to the least price seller.

AND if you try to compete on price, you feel weird inside but do it and THEN it becomes a race to the bottom. Straight OUT of profitability.

There’s got to be a different option. AND that’s what we need to talk about today.

Surely there’s got to be a way to get customers and get them to stick? Good thing there IS.

There is a framework we use with our clients to create what we call “monopoly control” in their market place.

Let me tell you about Dan and Diane. They’ve run a duct cleaning business for decades. It cleans the particles that settle into the air conditioning and heating ducts in homes and office buildings.

Now if you went out and googled ‘duct cleaning’ you’ll find all kinds of cheap service providers. Kind of what I call the “mow, blow, and go” folks, just like with gardeners.

But Dan and Diane figured out how to position their services so that they can charge 400% more than those low end folks, AND GET IT!

They did it by using the Monopoly Control framework to do 2 things:

The first things is you find a way of positioning your services around critical value created for your customers, a specific differentiation, but specifically in a way that their CUSTOMERS Care about.

What is important here is that you are providing a solution, and outcome, that makes a measurable difference to your customer and they VALUE it.

The second thing is you charge a premium price for it which lets you take the larger profits and spend them on marketing that reinforces your differentiation, over and over again.

Again, it’s not the easiest thing in the world to come up with that unique competitive advantage. But when you do, it measurably increases both the profitability AND the value of your business.

The more you create a unique identity and differentiation, the more valuable your business in the eyes of bankers, brokers and potential buyers.

I’d love to share more about how to avoid the mistakes other business owners are making in their businesses. You’ll find it at OnDay91.com/advantage

And if you know another business owner that would like to get more control, freedom and value in their business copy them on this. Let’s help as many people as we can have more choices you have about running it, transitioning it, selling it. Creating freedom for yourself.

To match competitors or not to?

“Hey Linda. I give great value to my clients and customers because I meet or beat my customers. But when someone in my industry runs a sale I lose that customer. What’s up with that??

I’m Linda Feinholz. I work with business owners who don’t want to get stuck in their business.

Today I want to talk about the huge mistake I see people make – focusing solely on their competitors.

Maybe you’ve already experienced it in your business? You’ve cultivated great customers. You add a ton of value. They give great feedback on your customer services. And at the end, you cannot depend on them sticking with you and your products and services. They say “thanks for the great service” and they shift to the least price seller.

AND if you try to compete on price, you feel weird inside but do it and THEN it becomes a race to the bottom. Straight OUT of profitability.

There’s got to be a different option. AND that’s what we need to talk about today.

Surely there’s got to be a way to get customers and get them to stick? Good thing there IS.

There is a framework we use with our clients to create what we call “monopoly control” in their market place.

Let me tell you about Dan and Diane. They’ve run a duct cleaning business for decades. It cleans the particles that settle into the air conditioning and heating ducts in homes and office buildings.

Now if you went out and googled ‘duct cleaning’ you’ll find all kinds of cheap service providers. Kind of what I call the “mow, blow, and go” folks, just like with gardeners.

But Dan and Diane figured out how to position their services so that they can charge 400% more than those low end folks, AND GET IT!

They did it by using the Monopoly Control framework to do 2 things:

The first things is you find a way of positioning your services around critical value created for your customers, a specific differentiation, but specifically in a way that their CUSTOMERS Care about.

What is important here is that you are providing a solution, and outcome, that makes a measurable difference to your customer and they VALUE it.

The second thing is you charge a premium price for it which lets you take the larger profits and spend them on marketing that reinforces your differentiation, over and over again.

Again, it’s not the easiest thing in the world to come up with that unique competitive advantage. But when you do, it measurably increases both the profitability AND the value of your business.

The more you create a unique identity and differentiation, the more valuable your business in the eyes of bankers, brokers and potential buyers.

I’d be sharing more about how to avoid the mistakes other business owners are making in their businesses.

And if you know another business owner that would like to get more control, freedom and value in their business copy them on this. Let’s help as many people as we can have more choices you have about running it, transitioning it, selling it. Creating freedom for yourself.

.

P.S. Whenever you’re ready… here are 4 ways we can help you stabilize and grow your business:

1. Grab a free copy of our Guide and Checklist

It’s the roadmap to creating a stable, scalable, valuable business that is so healthy you could be absent for ninety days and it would continue to thrive. — Click Here

2. Join the On Day 91 group and connect with business owners who are resetting and scaling too

It’s our new Facebook community where smart business owners learn to get more control of their business, value for their company, and freedom in how they use their time. — Click Here

3. Join our Momentum Program and be a Case Study

We’re putting together a new case study group at On Day 91 this month… stay tuned for details. If you’d like to work with Linda on your business-pivoting and growth plans… just send her a message with the words “Case Study”. — Click Here

4. Work with Linda and her team privately

If you’d like to work directly with Linda and the On Day 91 team to take you and your business to it’s next level… just send Linda a message and with the word “Private”… tell her a little about your business and what you’d like to work on together, and we’ll get you all the details! — Click Here

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