Vancouver Business Coach | Standing Out from the Competition

Vancouver Business Coach | Standing Out from the Competition

It is extremely important for entrepreneurs to stand out from the competition according to Vancouver business coach. Because when they do not send out, they are virtually invisible.

Vancouver Business Coach

And will not be able to find the customers they need to remain viable in business. In fact, many small businesses may find it shocking. The number of entrepreneurs that fail for this very reason.

According to an industry Canada survey. They discovered that 50% of all small businesses in Canada failed. And they failed within five years of business ownership.

The more shocking thing about this survey. Show the number one reason why entrepreneurs failed. Was because they were not able to find enough customers.

Whether entrepreneurs think it is going to be easier to find their target market then it ended up being. Or if they did not have a marketing plan at all. Or did not know who their target market was.

The results are the same, 42% of the failed entrepreneurs. Failed because they could not sell enough products and services. And while there might be many different reasons why.

Chances are extremely high. That it is not because they opened a business that did not have a customer base at all. Finding that customer base, and standing out can be one of the most important things that any business owner does.

This is why all business owners who are starting out, should set up a consultation with Vancouver business coach. Is because they are going to be able to find out exactly how to stand out.

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By identifying their ideal and likely buyers. Figuring out how to find out what is most important to those customers. And then delivering it consistently. And getting that message to them.

And while this sounds very complex. It can be, which is why hiring the experts is an extremely important thing for entrepreneurs to do. Especially if they want to avoid being one of the 50% that fails.

However, no matter how they decide to differentiate themselves from their competition. There is one thing that they must do. And this is provide excellent customer service.

As well as an amazing experience when customers do purchase their products and services. And whether they are a retail business, a professional business. Or a service, such as an electrician for example.

They can always do things that will elevate the customer experience. And help people feel as though they got great value for purchasing the products or services.

And once they know how to create that experience. When they do attract their ideal and likely customers. Not only will they wow them with their product and service.

But also wow them with the experience. That their customers will typically be extremely happy to pay a little bit extra. If they can feel like they are getting taken care of.

To learn how to do this, and other marketing and business help. Contact Vancouver business coach, in order to set up a consultation that can change the course of business today.

Vancouver Business Coach | Standing Out from the Competition

When entrepreneurs first open the doors to their business says Vancouver business coach. If they already do not know what their differentiation factors are. They are behind.

In fact, many small businesses in Canada may be extremely surprised to realize. That the failure rates for entrepreneurs in Canada is extremely large, and it happens much sooner than most people assume.

According to industry Canada, 15% of all small businesses that start up in this country. Fail within the same year of opening. However, 30% fail in their second year of ownership.

And an alarming 50% of entrepreneurs fail within five years. Therefore, there is no time to figure things out later. They need to hit the ground running.

And know how they are different from their competition immediately. They can do that by working with Vancouver business coach. Who will help them understand what their differentiation factors are.

Either by defining who their ideal and likely customers are. And figuring out what is most important to those customers. And then learning how to deliver that to a high degree of excellence.

Or, they might want to study their competition. And see how they stand out from their competition. And then do they are doing, but better, and to a higher degree of excellence. In order to attract those customers.

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One of the first mistakes that entrepreneurs make that Vancouver business coach hopes entrepreneurs can avoid. Is thinking that price is an excellent differentiation factor.

This is terrible for many reasons, including the fact that customers who decide on products and services to buy based on price. Are not loyal, and are not typically repeat customers.

Especially if they can find the same product or service somewhere else, even for a few dollars less. However that is not the most important reason why entrepreneurs should avoid differentiating themselves with the lowest price.

The main reason, is because when entrepreneurs use price as their differentiation factor. Not only will it be very hard to profit. And every mistake that is made, can put their business at risk of failing.

But it is also not scalable. Being unable to grow, such as add a staff member. Because even if they are extremely busy. They do not have the funds to add an extra person. Or upgrade anything.

And the worst-case scenario, when entrepreneurs differentiate on price alone. Is they are not covering their expenses. And they find out the hard way, when they run out of money. And have to close their business.

This is why it is extremely important for business owners to hire Vancouver business coach. Even before they open the doors to their business. So that they know what they need to do, and start doing it.

So that they can be more likely to succeed, because they know who their customers are. They know what is important to them. And they are prepared to deliver their products and services to extremely high degree of excellence.