Using the recent call from a client to view their brand new Premium Real Estate project on the Island, I wanted to highlight the keys to becoming outstanding in your industry and ensuring that all serious clients think about you first in your category, the way our company Fine and Country is sought after by most serious real estate investors/developers (who can afford our service).
3 Keys to Becoming a Sought-After Business
1. Great quality service or products. Ensure that you are developing and offering excellent services/products that will stand up to scrutiny. Benchmark against the very best. Think International standards even if your market is local. As a company, Fine and Country has constantly refused to benchmark against local firms, preferring instead to judge ourselves against international best practice. Tough but doable…and we don’t always match up but are committed to working towards those standards.
The world is a global marketplace, don’t be satisfied with local standards.
2. Consistent story telling. That is, building a story about who you are, what you offer, and how you are different. Don’t underestimate the power of marketing and building a brand. Many growing businesses will never make the big league because of this. I already share a lot about this in several other posts and believe strongly in the power of building a brand especially for growing businesses. It’s not as difficult as you think.
3. Recognise your value and don’t undersell yourself. Top clients want to pay for the best. Don’t undervalue your service and story by underpricing just to get new business. Taking a business out of desperation is the fastest way to lose value, and be in a perpetual state of discounting your services. Think, before you offer any discount. Is this a strategic client? What impact will they make for my brand and business? Will they be profitable at the discounted price offered? If not, think again. Look for other ways of offering value beyond a discount. I offer discounts to very few and only extremely valuable clients who bring serious strategic value to the table.
ONCE AGAIN, I REITERATE: Not everyone can be your client.
3 Key Ingredients Needed for a Client to be Considered Serious
1. They have a serious high level PROBLEM that NEEDS A SOLUTION.
It has to be a serious problem or need, not contrived. Usually something you may have been communicating over time has helped them recognise this gap they now need to fill. Those are the best problems. The ones your business helped the client identify or question. For example, if you are a designer, asking clients whether their clothes fit properly? Or a grocer asking “are your products fresh, organic and delivered to your doorstep?” Or a real estate company asking “are your title documents to be trusted?”
2. They recognise your value. That your service will solve their particular problem. Also, that you are most likely the only ones who can solve it exactly how they would like it solved. You are trusted to deliver at a certain level.
3. They can afford to pay for the service. No sense of 1 and 2, without this point. It is called business for a reason. Bottom line. Profit follows value. All else is commentary! Remember that.
So last week, I get a call from one of the best clients Fine and Country could ever wish for. The story and what unfolded will follow next week where I will share how all these points mentioned above played out. Really interesting story. You can’t miss it.
Meantime, enjoy a few pictures with the sort of views I get to enjoy from my day on some incredible properties right here in Lagos. Today is double-treat Tycoon Tuesday, so please also click here for affirmations that will propel you to massive success.
Yours in Business Success.
P.S: I’m away at Oxford University Business School for an intensive High Performance Leadership programme. I will share some of my learnings in future posts. Ongoing development is critical for business leaders to stay on the cutting edge.