It’s your job to create value, not chase revenue.
For most, starting a business is about making money. I mean, that’s the crux of it, but should it be your main focus?
We’ve seen time and time again, especially on a local scale, how businesses with a money-only focus either fizzle out or end up perceived as corrupt or greedy, and the consumers are the ones who suffer in the long run.
What if you can have your cake AND eat it too? What if you can create a business where people want to work at, and people want to shop from, and you can make a sustainable revenue on a long-term scale? Sounds too good to be true? While some may say it’s idealistic, I call bullshit.
You love when you get great customer service, right? I do, too. I remember those places, and recommend them frequently. So build your business on that touch point of value.
People don’t buy a product for what it is, they buy because of how they value it.
When you create something that’s worth something to someone, not only yourself, you’ll find that your consumers will become brand ambassadors, and those are the people who keep your business alive. Repeat business is the most valuable business in a sustainable long-term revenue model.
As entrepreneurs and business owners, it’s up to us to change the landscape in Trinidad in terms of value and customer service.
We always think that local items are of lower value and customer service is always crap, but what are we doing as business owners to change that? We have to add more value to our product bases and look at our offerings in a new light, putting a consumer first, not money first.
The money will come, it always does, but you have to be patient. You’ve got to run this one like a marathon, not a sprint. One of the issues here is that many small business owners are unaware of the struggles in the first two years, but I’ll get into that in another post.
Start by building something of value, something that people want, something that people will remember, with happy employees, a great company culture and fantastic customer service… You will outsell every single one of your competitors with this strategy.