Advice from an LA Business Consultant
Updated: Jan 10, 2020
I have heard a lot of advice (albeit unsolicited) growing up. Most of the time (and because I was a rebel child), I did not welcome it. However, when the advice comes from an expert, a master on the subject, it somehow transforms into a potentially life-saving information. One of the most important advice I got from my mentor is that in business you should be able to answer these two questions:
Consider your target market particularly your market niche and ask yourself, why they would choose you from your competition? What is your edge, your specialty and expertise? What extra(s) do you offer to your clients? What is special about you and your business that would give your company a more favorable opportunity for success? Having the answer to these questions just shows that you truly understand what you are doing and what you are doing in comparison to that of your competition.
And, most importantly, be relevant. You should be able to tell if there is, at present, a need for the product/service that you are offering in the market. Relevance is associated with being timely, useful and of value to the potential consumers.
After going through and knowing the answers to these questions, stay sustainable. It may seem like a wash, rinse and repeat process but what works today may not work tomorrow. Keep abreast of what's going on - the trends and changes in the market, in the industry, in technology, in the environment, in customers preferences and in your competition.