Build a Business That Works for You Using “Company of One” Concepts
July 26, 2023Part 4: Leverage the Personal Touch
The book Company of One: Why Staying Small Is the Next Big Thing by Paul Jarvis shares how small businesses can stand out from larger companies.
In this issue of The Homestead Post, we’ll share two tips (inspired by chapter 7 of the book) about how contractors can leverage their person-to-person connections and use them to their competitive advantage.
1. Demonstrate Empathy
Some studies indicate many people weigh how they are treated by a company more heavily than product features or price when making buying decisions. While it may be difficult to beat bigger competitors on pricing alone, small contracting companies can win projects by going the extra mile to make customers feel important and that they’re being listened to. Take notes! It shows you’re paying attention as customers talk about their challenges and needs.
2. Follow Through
Fortunately, small companies often have more control over fulfilling what they say they will do for a customer than do large corporations with long chains of command and even longer red tape.
Following through on your promises to customers builds their trust and confidence in you. And that leads to
a stellar reputation and a stream of referrals from happy customers. In his book, Jarvis says to consider this: 83 percent of new business comes from word of mouth!
Next in our series: A deeper dive into trust. If you missed our earlier articles in this series, catch up now!