Depending on your industry, I’m sure there are plenty of other businesses offering your particular products or services. Before you pull the trigger on your small business plan, ask yourself what sets your wares apart from those already flooding the market.
With a few professional tips from Daymond John’s Success Formula, you’ll understand just why unique products make for top sellers.
SERVING A SPECIFIC INTEREST
While nearly everyone needs a phone, not everyone needs (or wants) a smartphone. No matter what it is you sell, chances are good that there’s a niche audience you have yet to tap. A unique product that pinpoints a specific need rather than a general need has a better chance of grabbing the attention of interested individuals and having them give your business a chance to tell them why they should support your small business rather than a big name company that’s found all over the nation or the world.
INNOVATION AND FOCUS ON QUALITY
Because the owners of unique products are fully aware of how stiff their competition can be, they’re often more innovative and make their wares with more high quality materials. Heavy competition makes for a powerful motivator, which I find really makes me tap into my inner Einstein (crazy hair and all) when it comes to ingenuity and really pinpointing what it is my target audience wants and needs. As you’re designing your product, pretend there are already several other businesses out there offering the exact same thing, even if you feel your item is a novel one. This forward-thinking can help you save time and resources in the future should you discover there truly are hundreds of other companies that sell your wares. Remember, when you stay ready, you never have to get ready.
While you’ll still need good employees to help you sell your product, you, may need individuals with unique skillsets to help you in your mission. As a small business owner, it’s already essential that you find the right team, but that’s even more essential if you’re selling something special. Once you’ve found someone who either knows about or is willing learn about products that can change your industry, you’re likely to do what it takes to keep that person around. When that happens, employees are likely to feel more loyal to your company and like indispensable members of the team. This enthusiasm and sense of pride is easy for customers to see and feel, which conveys into solid customer service and a better chance of your team making a sale as well as making an advocate out of your customers.
OPTIONS FOR GROWTH
Something else to think about with niche products is there’s a good chance consumers around the globe have a need for your business. In addition to expanding your small business in the U.S., you could also have the chance to establish a location overseas. This potential for international growth can be quite beneficial should the domestic market become oversaturated.
No matter what you might think, I’m here to tell you there’s a unique angle you likely haven’t uncovered that can further improve your sales. Spend a little time thinking of ways you can exceed your audience’s needs rather than just meet them.