Strategy Concepts: Increasing your Strengths – Small Business Series

November 18th, 2011 admin Location: Raleigh, NC, Topic: Web Design | Digital Media

You are probably not in the business of confrontation, however there are plenty of occasions in the life of a small business owner where you’ll need the benefits and advantages of the strength position. Every one of the small business owners that I meet with on the regular basis wants to grow their business, every single one of them. In this post, I am going to share with you a common problem that I see with most small business owners. This problem is so prominent that I am sure that you are suffering from it. I give you a quick example of the problem and of course give you one way of solving it and pro pulse your business forward.

This post shouldn’t be free. But it is. So make sure that you check it out.
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Have you heard the expression: “A chain is only as strong as its weakest link?” Well, this also applies to your business too.  You are only as strong as where you are your weakest.Unfortunately when it comes to business, people forget that, they end up doing what they love to do. They end up learning and growing about the things that they have a natural passion for, and forget their weaknesses.

So let’s give an example that happens all the time in small business.

Example

You happen to have a small business as an independent business professional – a lawyer, a real estate agent or a doctor – and it happens that you are not having as many clients as you would like or you have enough clients but your business is not growing. This happens to be a very common situation. Now, you may be a fantastic professional in your field. In fact, you may have graduated with honors, but that doesn’t mean your business is strong everywhere. And that is exactly the most common problem with great professionals. They believe that just by being competent in their field, that they are “entitled” to clients and to profit and to success in business. Unfortunately that is wrong. You must remember the principle that your business is only as strong as its weakest weakness.

It should be evident that a small business needs not only competence to be successful. Otherwise, you could forget about charging your clients for your services and still grow your business. Businesses are in certain ways like little children. They need lots of things to grow strong, for example some of them are:

1. The right product or service, one that sufficient people are willing to pay for.

2. The right price, one that is not too low and therefore makes the business unprofitable and not too high so that you loose most clients in your target audience.

3. You need the right place. You may have an awesome product, and perfect pricing structure, but if your clients can find it or can’t reach you, it doesn’t matter.

4. You need promotion. You need to communicate with your target market so that they know you exist. Of course, you can rely on the power of referral marketing at times, but only if you happen to be very good at what you do.

5. And much more.

These points are so common that they are often referrer to as the marketing mix. So many small business owners have a great product (service) they really know how to deliver value to their customers, they even may have somewhat of a good estimate of prices for those services, but most of them have problems when it comes down to promotion, sales and finding the right place.

This is the biggest problem: They don’t try to get stronger in those areas. They just try to grow their business without paying attention. And of course they continue to fail to reach their goals and their potential but they become like hamsters in a wheel; not convinced that they are not getting anywhere. I hope you are not caught in this problem yourself. But if you are how do you avoid it?

Solution

You have to work on your weaknesses. If you feel like you are pretty good at what you do, then perhaps you are not good at sales: attracting new prospects and converting those prospects into clients. If you are good at what you do, and you are good at sales, but your business is still hurting, then your problem might be that your pricing skills are too weak. Try to research the prices of similar services and understand if you should be more expensive or less expensive than your target market’s alternative.

Finally let’s say that you are good at what you do, at attracting new clients, at pricing and your business still doesn’t grow. Then understand that you have something that is making your business weak and you need to find that weakness ASAP. You may of course need help to identify your weaknesses,  in my experience it is not as easy to find them by yourself. But once you do, setup a plan to work on them and become stronger.

Remember that even when you work on your weakness, now you will expose new areas that become weak and therefore require your attention.

If you want to increase the strength of your business, don’t do what you are comfortable with, do what is painful, and soon you will enjoy renewed strengths.

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About the Author

Alex Centeno MBA., is an international creative director and digital media strategist. Currently residing minutes away from the Research Triangle Park (RTP) - North Carolina, and with over 10 years of interactive marketing training and experience, Alex leads Merkados' international clients to maximizing their online business strategies. One of Alex's biggest strengths is his world-class capacity to effectively combine interactive marketing, digital media design and web development.

You may find further information about Alex Centeno MBA. at: and Twitter.

Sobre el Autor

Alex Centeno MBA., Es un director creativo y estratega de medios digitales reconocido internacionalmente. En la actualidad reside a tan solo minutos del Research Triangle Park (RTP) - Carolina del Norte, y con más de 10 años de entrenamiento y experiencia en marketing interactivo, Alex lidera a los clientes internacionales de Merkados™ para maximizar sus estrategias de negocios en línea. Una de las mayores fortalezas de Alex es su capacidad global de combinar de manera efectiva, mercadeo interactivo, diseño de medios digitales y desarrollo web.

Para más información sobre Alex Centeno MBA. puede visitar: y Twitter.