By John Gifford
Publisher and Editor
There are two misconceptions about our businesses which we should guard against. First, is my business really what I think it is? Secondly, do my customers perceive my business as I do?
Am I really able to view my business clearly and articulate its business model? Because our business has grown with us, we may be living in the past with respect to our understanding of our company. Construction companies may have been our most important customers in the past, and we may erroneously overrate them now, because of an emotional sweet spot we have for those businesses crucial to our development.
We have a gut-level feel of our business and our priorities for action. It is necessary to add a systematic checklist to generate a more objective view of our business — customers, competitors, most valued assets, etc. This checklist must enable us to examine each part of our business and its contribution to our profits and its specific ROI. The analysis from such a checklist is less prone to historical bias and contamination from an aura about customers we like best.
The second question — how do customers view your business — relates to potential misperceptions of what your business is. Your goal may be to sell items to the affluent, but the message given off by your product and advertising may be middle tier.
We need to ask our customers what message is given by our company, explicitly or implicitly. A questionnaire to past customers or just a few incisive questions to potential prospects may help us pinpoint the mismatch between what we wish our business to be and how it is in the minds of potential or actual customers.
For information on the Business to Business Marketing Seminar to be held by Indy Smallbiz with major sponsorship by PS Executive Center, Inc. and sponsorship by Redwall Live, will take place February 26, 2009. For more information about the seminar, email johng@indysmallbiz.com
I would like to thank Lou Begnel, of FEBE (Entrepreneur Group) for his help in identifying Blogs for reproduction in Indy Smallbiz.
John Gifford can be reached at johng@indysmallbiz.com.
