Reman U
- Author: Ben Stern
- Subject Matter: Business model
- Issue: Specialization
Growing up, did Mom tell you that you were special? Do you have special skills? Yum, special sauce! Like paying special assessments? Part of a special interest group? Would you like to place a special order?
Well, isn’t that special. And is being special a good thing?
What about your business? Is it a specialty shop, perhaps one that specializes in a certain “T” word we all know and love in the automotive industry – or perhaps not?
Take the medical profession. With a specific problem, would you rather be evaluated by a general practitioner or someone at the top of their field? If you can see a specialist, you probably do.
No matter what business you’re in, being specialized is a definite advantage.
“But Ben, aren’t I limiting my potential business by turning away the simple work?” Nope. Perhaps in the short term you are losing a couple of bucks, but think about your business’s long-term health and value. Your would-be competitors refer work to you (whether they are trying to or not). And once you start generalizing, this hard-earned reputation of expertise and specialization goes away in a hurry. It’s brand equity, and it’s the reason you don’t have to spend as much on marketing and advertising.
You work hard to do it right, and you’ve come to be known by customers, competitors and the community as an expert.
When you’re a specialist:
- Word-of-mouth leads and referrals cost less and are the most successful ways to grow your business.
- When your business is built on that specialization, you ensure you pop up on a specific Google search for prospective customers.
- “The good old days are gone; it’s not like it used to be.” Times aren’t tough and business isn’t down for the best of the best.
- You always work to be better, celebrate your expertise and stay cutting edge.
- You, your employees, coworkers and customers should all know the value of what you do. Authentic expertise sells itself in any field.
Being special is a good thing. I want to do business with specialists, and your customers do, too. Don’t take the bait when you see a shiny coin of non-specialty work; it is a mere morsel and may have a big hook attached. Embrace what your business is great at and charge a premium for it.
Does your business do what it does best?
