Why New Businesses Fail, or The 2 Questions You Better Ask Yourself Before Starting: Part 2 “Choose Me!!!”

| September 13, 2014

The second question soon to be entrepreneur’s need to ask is, “Why are customers going to choose my company over the competition?”  Question one established there must be a need for what you are offering–and we did this through testing and research–but now we need to go further.  Just because there is a need for a bike store or commercial spring water delivery business does not mean that your company will be the company customers choose. Why my company? can be answered with an in-depth study of your competition before opening your businesses. I recommend experiencing their company first hand. Have them give you an estimate, perform a small level service, or buy their product. Study everything they communicate to the marketplace (their advertising) so you can prepare a response that meets the needs not addressed in their message. Again, just because you found a need in the marketplace does not mean your going to be the one to fill it.  Follow my advice, and lets hope you do.

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