5 Ways to Stand out in the Marketplace
Lack of differentiation is a slow killer of business
If you run a business, one of the major challenges you have to overcome is how to differentiate yourself in a noisy marketplace.
Most times, the lack of differentiation in the marketplace is a slow killer of business. It leads to you competing based on price and this is always a bad idea for any business.
As a traditional Chartered Professional Accounting (CPA) firm, we offer services that are generally commoditized — tax return preparation; bookkeeping services; financial statement reviews and audits; etc.
With the saturation of CPAs in the marketplace, it is harder to differentiate yourself as there is plenty of noise with everyone fighting for the same business. So, it is easy to fall into the temptation to compete based on price. And we did compete based on price for many years.
Recently, we started making small incremental changes in our business to introduce some differentiation in what we do and in how we deliver our services. We started focusing on delivering more value in order to stand out from the crowded marketplace.
We still have a lot of work to do in this area. Part of my current mission is to radically differentiate what I offer compared to other…
