Stop Trying to Do the Most “Original” Thing In Business…
Summary
- Everyone thinks they need to create something completely new or revolutionary, like a vacuum that hooks up to a cell phone. But that's not necessary.
- I prefer taking sure bets. People always need basics like cleaning services, which aren't going away.
- Success comes not from wild innovation but from doing common things slightly better than others.
- Many competitors are bad at what they do; simply outperforming them can make you money.
- Consistently doing a good job over a long period can set you up to potentially sell your business for a profit.
Video
How To Take Action
I would suggest implementing strategies that focus on improving basic services that people always need. Start by identifying common needs in your community, like cleaning services, lawn care, or basic maintenance. These services aren’t going anywhere and have a steady demand.
A good way of doing this is to look at what your competitors are doing. Are they reliable? Do they show up on time? Do they provide good customer service? Many businesses are bad at the basics, so by outperforming them in these areas, you can easily gain an edge. Make sure your service is dependable, friendly, and consistent.
To make it happen, implement simple, low-cost improvements:
- Punctuality: Always be on time. People value their time.
- Communication: Keep customers informed. Confirm appointments, send reminders, and follow up after the service.
- Quality: Do the job right the first time. Attention to detail can make a big difference.
As you build a reputation for reliability and quality, you'll get more word-of-mouth referrals, which is the cheapest and most effective form of marketing.
Consistency is key. Keep doing these things well over a long period. This creates a solid track record that could make your business attractive to potential buyers in the future, allowing you to sell it for a profit.
These little changes, done consistently, can set you up for long-term success without costing a lot.
Full Transcript
everyone thinks they need to do something really like novel like no one's ever made a vacuum that hooks up to a cell phone you know what I mean or whatever I like taking like really sure bets it's like well people need stuff cleaned and that's not going to go anywhere and so all I got to do is beat these other guys who probably shouldn't be in business anyways because they're so bad and just do it a little better than them and if I do that I'll probably make some money and if I do it for a very long time I'll have something that I could potentially sell to somebody who wants to give me even more money for it
