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And the purpose of your business is...?

Article by Wayne Moloney is a Business Growth Specialist

Published: Tuesday, July 22, 2014   /   Categories: Membership

People often stumble over the question of their ‘purpose’ in life, but in business there can be no question. There is absolutely no room for confusion on this issue. The purpose of any business is precisely this: to serve a well-satisfied customer.

Sure, you want to make a profit. But the bottom line is always the same — to serve a customer.

So the first and primary question for any business is: what exactly do you do FOR your customers?

Some restaurants provide meals that are fast or inexpensive, that have particular ethnic or nutritional styles, or that are conveniently located. No restaurant can be all things to all people, but every restaurant has one main purpose.

McDonald’s provides predictability and speed. Hungry Jacks provides “better burgers”
Dominoes delivers pizza in 30 minutes or less. Pizza Hut provides variety (now it’s pizza and pasta).

Telstra sell “more coverage and less drop-outs”. They have the most extensive mobile network and that is what they are marketing.

On the other hand, other service providers try to differentiate on their applications and service as they lack the coverage of Telstra.

Your business has only one primary purpose.

When you are clear about that, communicate it in every message. It’s all about knowing your value proposition, identifying the market that needs this most and planning how to get to your ideal client.

--- Wayne Moloney is a Business Growth Specialist, Partner at Inform Consulting Group and co-author of the FREE eBook Lean Business, Fat Profits.

 

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Kearney Area Chamber of Commerce
Kearney Area Chamber of Commerce

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