The most successful business owners always ask
"How can I make this work in my industry?"
when they see a great idea, while the less successful always declare
"This stuff doesn't work in my industry." (Usually with a pompous, all-knowing attitude.)
Here's a real life example from a business owner we recently encountered...
We usually see membership cards with bonus points accumulation & gift redemption in consumer businesses.
This owner of a hardware business, a distributor of products to the construction and contracting industry, decided to adopt it for his business.
Remember, this is a hardware distribution business selling to construction and contracting companies, a business-to-business environment. His sales team objected and told him why it "won't work":
"We're selling hardware to other business owners."
"We're dealing with low level education."
"Our clients prefer discounts."
"Why would our customers be interested in redeeming stuff they can easily afford to buy themselves?"
He decided to launch it anyway, but he took in one of the objections his sales staff raised, by giving suggestions on how his customers can utilize the items they redeem. In his membership material, he made the following suggestion to his customers: keep the items redeemed for own use, give to staff as performance incentive without spending a single cent or donate to a charity. If his customer chooses to donate, he will send the items to the charity directly, in his clients' name.
His business experienced a 30% increase in sales in the first month of launching and has sustained the increase ever since.
Lesson
Keep doing what everyone else is doing in your industry, attempting to "do the same but better", keep getting the same results but slightly better.
Keep testing and adopting successful strategies from other industries, keep reaping the rewards for being a pioneer.
Keep dismissing anything you don't know or are not familiar with by saying "but this stuff don't work in my industry", keep getting the same results doing the same old thing over and over again.
Reflect on this - what are the strategies you are holding back on testing because you are not familiar with them, instead of doing what is necessary to get familiar with them?
Are you the "all-knowing" type or are you the "let's see how I can make this work" type of business owner?
If you are the latter, Register NOW for our FREE Business Optimization Clinic, valued at RM699. We guarantee you will get at least 1-2 ideas you can implement immediately, even if you do not engage our services.Have a profitable week ahead!
ps: Only 10 sessions every month for qualified business owners. Claim yours today!