Neil F. Anderson, Founder & President, The Courage Group, Inc.

Now days, it’s tough for any business, regardless of size, to successfully compete and win new business.

The days of signing up new clients or customers with ease are long gone. The past recession, the anemic economy, the fierce competition and impact of the internet have all made it very difficult to close the sale. Now you have to fight “tooth and nail” to get more new customers.

Breaking News: The reasons really don’t matter. What matters most is generating revenue, continuing to pay the bills, grow the business and stay out of the business failure graveyard.

What will help? Three words-offer more value. Try this strategy on for size, always give people more value for their hard earned money.

Eight Offering More Value Tips

1. Do Your Homework-To win new business, by adding more value, you first need to know what the other guy is doing. That means updating or writing your business plan.

A business plan is simply a written description of what you are going to do and how you are going to do it. It is your roadmap to success.

One of the best reasons for writing a business plan is that it will force you to examine your competition. You can’t add value to your products or services until you have a strong understanding of what your competitors are offering.

Note-Check out the below entrepreneurs, who recognized the value of writing a business plan. Recognized the opportunity to add more value, based on their knowledge of the competition, then delivered it in order to win business and successfully grow the company.

* Phil Knight/Founder of Nike/Annual Revenue-$24 BB/44,000 employees

* Fred Smith/Founder of FedEx/Annual Revenue-$46BB/300,000 employees

* Jim Koch/Co-Founder/Sam Adams/Annual Revenue/$794MM/840 employees

* Jeff Bezos/Founder of Amazon.com/Annual Revenue-$74MM/132,000 employees


Continue Reading Show More Value, or Lose The Sale

 —David Mitchel, Vice President of Norton Mitchel Marketing

Successful brands often find holes in markets that need to be filled. There are numerous examples to illustrate this point. Microsoft found a great niche in the computer software market and their success made Bill Gates one of the richest individuals on the planet. Apple’s iPod was a product innovation that really enhanced the company’s bottom line. In the 1980’s, Porsche expanded their line of sports cars into a new niche with the 944 and it helped save the company from bankruptcy. However, sometimes holes exist for a reason and they can’t be filled despite the best branding efforts.

The latest example to illustrate this is Devotion Vodka. Devotion Vodka is a protein based vodka. The protein used in Devotion is casein, the same type of protein found in dairy products. According to its website, Devotion is "the world’s first and only 80 proof, triple-distilled casein infused vodka made in the USA". Recently, Devotion announced that they signed Mike "The Situation" Sorrentino of "Jersey Shore" fame to be their spokesperson. Additionally, The Situation will have an equity stake in the company. I believe The Situation is a reasonably qualified spokesperson for this brand. The Situation likes to drink and party as evidenced by his actions on "Jersey Shore" and he is also a fitness enthusiast.

Despite the alignment between The Situation and Devotion Vodka, it is unlikely that this will be a successful brand. This is because the product concept is flawed. The vodka is aimed at a fitness oriented individual. However, vodka is not perceived as a fitness oriented beverage. Additionally, I believe that people will have a hard time understanding how casein protein fits into a hard alcohol product. If the product concept flaw wasn’t a convincing enough argument, consider Devotion’s pricing strategy. Devotion will enter the market similarly priced to Grey Goose. Grey Goose is a vodka brand that is well perceived and associated with quality. It also holds cachet with those who live a Jersey Shore style lifestyle, a target market for the Devotion brand. In a consumer purchase decision between Devotion and Grey Goose, the vast majority of consumers should choose Grey Goose because of its brand equity and stronger price-value proposition.

Continue Reading When Holes in Markets Can’t Be Filled