What small businesses lack in volume, they can compensate for in agility. Find out why in this episode of #70secondCEO with Carl Gould.
Hi everyone, Carl Gould here with your #70secondCEO. Just a little over a one minute investment every day for a lifetime of results.
You want to go in one of two directions and for most small businesses, one direction is more realistic than the other, but those that are considered to be the expert in the niche or have a bold promise are either priced among the highest or among the lowest. So you know google gives us the world’s library for free, millions of answers to any question we have within one second and they do it all for free, how were they able to do that? Well they have the algorithm, they have a business model that allows for that, so it’s bold so we think wow google must be the expert, right? And but at the same time if–as a small business, it’s hard for us to play that level because it’s such a volume game, it’s not likely a realistic business model. However you can be among the largest–but you know highest price in your niche because you can provide premium services, you can really leverage your features, advantages, benefits and some other ways that you’re much more agile than a larger company can be. You can in other words you can pivot quicker. You can get there, you can drop on the dime, you could turn around. It’s a small business it’s such an advantage we wanna take advantage of it.
Like and follow this podcast so you can learn more. My name is Carl Gould and this has been your #70secondCEO.