A lot of businesses fail after it’s first few years, that’s no more a news.
Now that you probably own a business or you intend starting up one, what’s your fate ?
Would your business actually succeed or otherwise ?
If you want answers to that, you don’t need to visit a fortune teller, the answer is not far fetched.
Have you ever considered why it seems like some online brands are forever struggling ?
Have you reasoned why it seems like there is a limit where almost every young and growing brand gets to and they get stuck ?
A kind of scenario where the social media like shoots up, the trend starts buzzing and then things later start to go down ?
Have you reasoned that regardless of this, others are just taking over the digital space as the years go by ?
There seem to be a system that chooses which business eventually succeed and which business will remain small.
Truly, there is a system that does that. A system that carefully examines your brand’s operation and eventually decide if your business would work out or not.
What and Who actually determines who GOES BIG(succeed) and who GOES HOME (fail).
Well, the person making this decision is THE MARKET and the criteria the market uses to estimate you is VALUE ADDED.
So, our two factors are MARKET and VALUE ADDED.
So how do these factors play out ?
The MARKET is a major decision maker in the sphere of marketing, once the market decides, everyone goes to rest.
For instance, immediately the mobile phone market started embracing Android powered phones, the previous giants in the markets started dieing.
It was almost like a spell, the market decided that they are getting more value from Android powered phones and boom! Sales skyrocketted.
Who is the MARKET ? They are the customers for which you are putting out goods and services.
They are the people who are benefitting from the value you are providing.
Now that we know that the market is a major player in this game, how do we please the market ?
That leads us to examine what exactly matters to the market ?
What really determines the market’s decision ?
The market accepts or rejects you to the extent of value you have added, Period !
If you are not providing value or you are not providing ENOUGH VALUE then get ready to go home broke.
You may be providing value but if it’s not enough, then the MARKET does not want you. Why ? Because they have better options.
Nobody would buy patronise your brand or order for your service if they can perceive a better offer somewhere else, SIMPLE !
As far as Google remains the most valuable search engine and their search results are not trumped by another search engine, then Google remains the most used search
The principle by which the MARKET decides who wins seems so simple that we find it hard to believe.
The MARKET favors whoever can provide BETTER VALUE.
If there are two photographers that do exactly the same thing with exact same processes, if one of them starts offering a higher quality photo output, that same photographer wins.
The fact that you are basically offering VALUE does not mean you will succeed.
Yea, I know you have probably been told that offering value alone is what matters.
For instance, if you make fruit salad deliveries in Lagos, your business is not just to make good looking packages and well packaged fruit salad recipes.
Your job is to provide more value than the conventional expectation. You can’t survive in the digital business world by just meeting expectations. You need to exceed
Your strategy should not just be to look around and copy what your seeming competitors are doing and stop there. NO! You have capped your marketing results already
if you proceed that way.
The subject of VALUE and its PERCEPTION is quite important in keeping you in business or sending you home.
The MARKET is not emotional, it’s not sentimental. 2000 followers on Instagram cannot guarantee that your brand will remain relevant in a few weeks to come.
Even though I currently get my fruit salad deliveries from your brand, there is a possibility of coming in contact with a brand that does exactly what you do and then
also sends me a weekly Fruit maagazine.
Once I find such a brand that delivers more value or that could present themselves more VALUABLE, then I’ll gradually make a switch over to that new brand.
It’s quite a simple principle, but its quite difficult to operate by.
If you want to know whether your business will succeed or not, its simple.
Do you have a system or structure in place that ensures that you are providing VALUE that exceeds the conventional expectations of your customers or clients.
If your answer is YES you are bound to SUCCEED, if it’s NO, then your business is on the way for a crash; LIKE A FAILED AIRCRAFT ENGINE.
You job is not to MEET EXPECTATIONS, your job is to EXCEED EXPECTATIONS, EXCEED THEM AND SET NEW ONES.
Everybody expects a car to have an engine, a seat, a truck, wind shields and the likes. But once a brand releases a car that can do more than that, then something
Every one’s expectation starts to rise as the adoption of the better model of cars begins to spread. Nobody wants the old model.
The market’s expectation have been exceeded and a new standard have been set. As a result of that, a lot of brands are on their way to dieing
Once the MARKET passes a judgement, nothing changes it. And the book of the LAW in marketing is how much VALUE you are providing.
Once the market weighs you on a scale of VALUE and you fall below or among the conventional, then you remain grounded. That’s how businesses, keep going home after
many years of operation.
It’s quite easy to know which business will survive the test of time and the ones that would terribly fail. Its not a game of chance.
Are you currently exceeding expectations or you are just striving to meet up your taregt market’s expectation.
You need a plan and a strategy to create VALUE that’s more than the CONVENTIONAL.
That’s the way to survive and build lasting and thriving businesses.
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