Competitive Edge

Competitive Edge

Competitive Edge in Small Business

Competitive edge in business is not always a matter of your budget. A while back, Iâ€™ve met a distressed small business owner whose beauty salon was about to go under. She was exhausted, sad and about to give up. During the initial consultation she told me that her business was quite successful until sheâ€™s had a baby. Needless to say, she was delighted to be a mother but it never occurred to her that her much wanted baby might cause the demise of her business.
Even though I am an experienced marketing profession, Iâ€™ve never heard of babies ruining business. I asked her for more details. What has changed so dramatically since the baby has arrived? She explained that the main change was to her schedule. She was free from her baby duties only after her husband returned from work. During her regular business hours she was not available for business; most of her time and attention during business hours went to the baby. It meant that her loyal customers were coming to a salon which was either closed or attended by unfamiliar stylists. A crisis was looming. Old customers were moving on to other salons; new customers wouldnâ€™t go back to a salon devoid of personality.
The poor sole proprietor realized that sheâ€™s forced to make a choice between her baby and her salon. She was tired from not sleeping, looked bad, was worried sick and didnâ€™t project the image one would expect from a beauty professional. I knew that the situation called for a creative solution and thatâ€™s when my creative marketing skills came into play. I asked her whether she believes that she is the only woman with a new baby and a strange schedule. Could it be that there are other new mothers out there who live by a similar schedule? Could there be working mothers out there who work, prepare dinners for their families and first then have a little time for themselves? My question took her by surprise. After some back and forth, she came to believe that it is likely that her schedule may be shared by other women. Since women were her primary customers then perhaps they would come to the salon after 7 PM not as a courtesy to her but for outright selfish reasons.
We managed to turn her weakness - and letâ€™s face it: uniqueness! - into her small businessâ€™ competitive edge: we developed a brand to emphasize it and I publicized it to the hilt. The unusual concept was found interesting even by major media outlets that picked up our press releases. Old customers were invited back by phone and direct mail. Prospective customers learned about this one of a kind salon through the media. A series of well-placed articles spread the rest of the news. The publicity campaign alone did the trick; paid advertising didnâ€™t even enter the picture. Was this a way to not only rescue her business but attract customers? You bet!
Long story short, the disillusioned salon owner not only survived the crisis but branched out and yes, she successfully continues on the path weâ€™ve designed. She is no longer frustrated: she is a good mother by day and a successful small business owner by night.
How does this story apply to you? Every business needs to attract customers, still most business owners try to mimic the so called â€œindustry standardâ€. (â€œEverybodyâ€™s always done it that way.â€) Consequently, they often find themselves one of many. Theyâ€™re forced into a tough competition for the same customers, for the same money, in the same area. Think of yourself and your business and look at how you and / or your business are different from the customary and expected. The differences are always there. Find them, instead of hiding publicize them and capitalize on them. If you canâ€™t find any, invent them. If you canâ€™t invent them, think of combining forces with another business or individual from a non-competing field. (There is no law that would prevent coin laundry from featuring a stand-up comedian every Wednesday night!) Instead of trying to be like some faceless corporate example, develop your own uniqueness and let the world know about it. Your originality will attract customers.
Small business owners rarely think about developing a brand. Why should you have one? A brand makes your business distinctive and gives you a competitive edge. (There is no busy woman out there who enjoys wasting her weekend in a crowded beauty salon, but there are many who can appreciate the convenience of after hours beauty care. A brand instantly communicates the businessâ€™ personality.)
Business publicity is another underutilized power. Once you have either an original concept / brand you have to spread the word. (You wonâ€™t get rich by having a brilliant idea; it is by promoting your idea that you get to collect on it.)

A small business owner may not have a large marketing budget, but a competitive edge for a small business is often a matter of developing an original personality for your enterprise. And of course, spreading the word about it, but with the Internet community at your fingertips even promoting your competitive edge can be free, provided youâ€™re willing to invest the time and effort. To your success!