Should You Focus on One Product or Service?
Maximize Your Marketing & Branding
In today’s episode: We discuss you might want to focus on one specific product or service. By doing this, you can maximize your marketing and branding. You can become the “go to” business for a product or service.
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Episode 72: Should You Focus on One Product or Service?
Welcome back to the Local Small Business Coach Podcast. I am your coach, Tammy Adams.
Today we are going to take a look at how you can build your business by focusing on one core product or service
Should You Focus on One Product or Service?
Have you ever wondered if you should focus on one key service or product or continue to expand what you offer? It is easy to fall into the trap of offering everything you can think of so that you can drive more sales. After all, the more you offer the more sales you will get, right?
Well, not necessarily. You see, your customers and clients are much more likely to brag about one great thing you do vs all the various things you do. Think about your business. Is there one thing you are really known for or want to be known for?
You can’t be all things to all people. So, your best bet is to focus on one thing and do it really, really well. The best combination would be to find something that is a need in the community, something you can do very well and something that you can make good money doing.
Let’s say you are in a service business. What is the one service you can shout on all your marketing? That you can build a brand around? Something that you can become the go to person in the community for this one thing?
For example, maybe you can build decks or fences. Instead of focusing on both, what would happen if you focused all your energy into building one or the other? You become the Deck Guy.
What if you could do concrete work? Sure, you could do all types of concrete stuff but maybe you focus on driveways or patios. Now you are Patio Paul.
You get the idea, pick one specialty and focus tons of attention and resources into that one thing to be the main go to person.
By the way, you can do the same thing if you have a brick and mortar business. Think about it, even Jack n the Box was famous for the Jumbo Jack, or McDonalds and the Big Mac. Think of your business and is there one product or service you offer that you can really push?
QUALITY OF QUANTITY
One reason you want to focus on this one item is, too often we try and be everything to everyone. The problem is, when we dabble in everything, we master none. We tend to shoot for quantity over quality.
Now, I’m not saying you don’t do quality work, but what happens is, you chase any and all jobs. Your advertising is all over the place, your brand is all over the place, so you never get to build the momentum in your community that you are really striving for. Think about it, if you put all your energy into promoting that one signature product or service, you can really stand out for it.
All the surveys say that someone has to see something multiple times before it registers. So if you are changing what your message is every month, it never gets to pick up steam, like you do when you focus on one thing.
BUILD A BUSINESS AROUND YOUR FEATURE ITEM
Ok, so what happens after you build this strong business around this one item or service. This is when you come along and fill in other services or products. The key to start by complimenting the main core item. What you don’t’ want to do is add 8 – 10 things. You just confuse your message again.
What are these things those same customers need that are good extensions? That is how you want to proceed. What is the natural progression of your customer once they utilize the core thing? For example, are their complementary items. Things that are natural add ons?
If your service is done once every few years, what is something you could have them reach out to you in a year or two for? These are the types of things you want to look for.
So in conclusion, I want you to think of your business. What is something you do that already is probably a big chunk of your business? You know the saying, 80% of your sales come from 20% of your items. So what is one of those core sales drivers? Can you pull it out and make it he “hero” of your business? Can you use it to dominate the market place? This is the type of thing I want you to really focus on and see how strong you can make it.
Hope this episode has made sense, but trust me, by doing this, you will see some great sales!
And as we wrap up this episode I want you to know, that I realize being a local small business owner can be a lonely gig at times. But you don’t have to do it alone. Just know, I’m always here for you.
By the way, If you like what we are taking about, then make sure to subscribe to the podcast so you don’t miss an episode, if you love the podcast and what we are talking about, then please leave a 5 star review so other local small business owners know this is a podcast that they can’t miss. SPECIAL SHOUT OUT TO: Beboutique Everyday motivation Thank you taking the time to do this podcast!!! Your awesome. Listen to you everyday!❤
And don’t forget to visit the website at LocalSmallBusinessCoach.com to leave your question for me to possibly answer on the podcast in the future. You can leave it via the Speakpipe button or just shoot me an email.
Meanwhile, I wish you the best in your business and remember: Great Customer Service, coupled with Great business practices will set you on the path to Great Profits!
Bye for now…..
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Today's episode, as well as all of our episodes, is brought to you by trainingforlocalsmallbusinessowners.com. Where we provide free tips, tools and resources for your local small business. So whether you are just starting out or you've been in business for a while and want to learn more ways to increase your profit, boost your sales, improve your processes and develop stronger teams then head on over once again to trainingforlocalsmallbusinessowners.com..
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See you on the next episode!
Two Great Books to Help You With Your Small Business:
Highly Recommend all Local Small Business Owners Read the eMyth by Micheal Gerber. You will learn some critical things about running your business.
The second book is one I wrote based off a popular example I always use when folks are trying to understand their role as a leader with their people. Check it out.