Owning a business can feel overwhelming at times. You might even feel like your small business is powerless against the big giants, but fear not because we have 8 steps you can follow to beat the big brands. Come back every day to read the next stage in this 8 step blog series.
Step 1: Identification
The first thing you need to do is identify your business. What is your mission statement? Do you have a vision statement as well? What is your brand position? Lastly, don’t forget about your elevator pitch, because you never know when you might run into someone with power who can help your business grow. Have your pitch ready, and know what your business stands for.
Struggling with a mission statement? Here is an example:
“We are a local business that serves manufacturers who use our system to reduce their inventory costs by 50%. We have a patented method that delivers materials the day they’re needed.”
See what we did there? We made sure to state who we are, what we do, and what makes our business unique.
In an elevator pitch, you will also want to add how you do it, and why you do it. It’s always essential to say why you do what you do, so consumers understand the importance of your practices. Here’s another example with the why included:
“We help manufacturers of all shapes and sizes reduce their inventory costs by 50%. Our family business holds a patented method that can deliver materials the day they’re needed because we know time is money.”
If you are having a hard time with creating your statement, always bring it back to consumer benefit. Think about how your business is beneficial to the customer and portray that in your pitch. Hopefully you now have a better hold on your mission statement and what you stand for. I will leave you with a mission statement for JP Marketing:
“We’re a band of passionate experts who craftfully move brands from point A to point B. With proprietary research tools and hardworking attitudes, our goal is to serve and sustain families.”
Now that you have identified your brand, read the rest of the steps: