What is the process of running a successful business in Michigan?
Running a local business is not easy when you are dealing with 10 other competitors in the area that all want to dominate over you and eat you for breakfast if they had the option.
Local business such as limousines, carpet cleaning, Janitorial services, and others can be a really cut throat type of business with many obstacles if you are not prepared. For example, take a look at the carpet cleaning niche in business it is being dominating by two companies the Modernistic and Dave’s #1 Carpet cleaning.
The top search rankings are being dominated by these guys so it is quite difficult to get any foot print for new businesses starting in the carpet cleaning business.
I know another blogger that writes about business in Michigan and he has found the same thing in some of the niches, there is just long standing powerful companies that has a strong grip in the market.
So how can the little guy come out on top?
Well like I tell all my clients, if you have a great product or service the market place will reward you with value in return comparable to money or anything valuable to human life.
This is why when making investment options I always look to invest my money in a company that I believe in, knowing that if they have great product or service, no matter what the stocks is stating in that particular moment, I know that they will do very well in the long term.
Warren Buffet, the greatest financial mongol of our time has stated that he much prefers to invest in something that generates income instead of something like gold or silver that counts on the fear level of the market place to determine its value.
I think this is a brilliant statement, because it is true, the value of gold will only increase when people become afraid of the dollar crashing, and this is counting or relying on external circumstances to line up before one makes any money.
Whereas if you invest in a great business that is producing real valuable product or service then even if the economy collapses, that business still has value. Because their quality of service or product is not dependent on the market place, it is created by human creativity.
That is the true value out there, so when I get clients like Rochester Limousine that wants inevitably talk about how they can get ahead or how they can beat the surrounding limo companies in Troy and Rochester Hills. I have to remind them that to truly lead to victory for the long term is to truly beat everybody else in quality of product, service & price.
The 3 core principle that makes any business rise to the top. So many of us get caught up in the latest gadgets and techno wiz out there that they miss the #1 important thing business should work on day in and day out, and that is consistent delivery of superb service.
In my humble opinion, there should be less focus on technology and more focus on refinement of your product and service.
Of course once that is sorted and everything can be dialed into a finely tuned system, then one can begin to explore how to market that system into the marketplace so that the business experiences great growth without the decline of quality.