Lesson 1: Research the competition
· Pay a visit to them
· Get a feel of the competitor
· Know your competitors to better able effectively compete with them.
Lesson 2: Know your customer’s values
· Recognize other concerns besides prices
· Don’t be caught in the mentality that customers will buy from you only if you have the lowest cost.
· Think/make your product as a bundle of attributes having a unique value.
Lesson 3: Identify opportunities
· Look into developing new products/services or improving existing ones.
Lesson 4: Develop a positioning based on opportunity
· Provide different benefits.
Lesson 5: Create a Catchy tag line.
· Help in building brand equity, communicating benefit and feature.
Lesson 6: Spread the word
· Business name card
· Print and distribute flyers.
- Word of mouth
- Advertising (online and offline)
- Philanthropy (donate money, services and/or time to non-profit organizations, or conduct own event).
Lesson 7: Be ethical and above-board
· Concentrate on improving rather than dodging regulations
Lesson 7A: Subterfuge is a poor long term strategy
Lesson 8: Implement until you are blue in the face
· Keep trying until you got it right
· Don’t give up
· Strive to continually improve.
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