The 9 Challenges Every Successful Business Overcomes – Challenge #3

Posted: December 23, 2009 in 9 Challenges Every Successful Business Overcomes

In this series of posts I am focusing on 9 challenges that every business faces.

I will post one of these challenges every week.  These are challenges that I’ve seen as I’ve begun consulting various businesses over this last year.

The more I’ve thought about it the more I’ve come to believe that these are the same challenges that any/every business faces – no matter what product or service they sell.

I also believe that successful businesses in any arena are successful BECAUSE they have overcome each of these 9 challenges.

Each post in this series will give a brief description of one of the 9 challenges that you face as a business owner.

Let’s look at the third challenge every successful business overcomes.

3. Your prospects must know how your business (and what you offer) benefits them.

In the last challenge, we talked about the need for your business to be known.  If they don’t know you exist, then can’t purchase from you.

But once they know you exist, they now have to know HOW your business being in existence is a benefit to them!

Let me show you what I mean by this.

Let’s say they find out your business exists and that you sell ___ widgets.

They’re not going to start cheering just because they found you.  Their response in probably going to be…

“Yeah, so what do I care!?!”

You need to be very clear in how you describe what you do and offer so that you are describing it in terms of benefits to your customer.

And don’t just think of benefits.  Focus on END RESULTS.  What end result do you offer?

What end result has your customer been searching for that you offer through purchasing your product or service?

You are not selling your product or service.
You are selling benefits and end results.

Don’t assume that the benefit you offer them is clear in their minds.  It might be, but there’s a good chance it’s not.

Also don’t assume they realize the true end result that they will receive from your business being in existence.  This is even less clear to your customers.

And guess what?

Even if they have a general idea of the benefit and end result they get from your business, it doesn’t hurt you to make it very clear and “fleshed out”.

When you do that it will only clarify and enhance their understanding of why it matters to them that your business exists.

And that can only lead to a greater chance of them becoming your customer.

Successful businesses make it very CLEAR that it matters to their prospects that they exist.  They make the benefits and end results that they offer obvious.

If you want your business to have a chance of succeeding whether the recession is over or not, then prospects must know how the existence of your business is a benefit to them!

In the meantime, I’d love to hear your thoughts about this third challenge.

  • What do you think?
  • Do you agree?
  • What has your experience been with this first challenge?

Post your comments, thoughts and even questions – if you have any!

Click here to post this on Facebook!
Click here to tweet about this on Twitter!
(*Here’s the shorter version of the link -if you need it http://wp.me/pfeEX-9b)

*I’ll continue this series in the new year.  I’m taking a break for Christmas and New Years.

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