5 strategies to assure effective execution of the How to Hire the BestTM Solution: Part Two of Five, Finding Your Sweet Spot
Many of our clients come to us struggling to be profitable, due to the compound effect of years of undercharging in an attempt to remain competitive. Being the specialist within a clearly defined niche allows you to be competitive and charge what you need to charge to be profitable.
At Tap the Potential, we help our clients become the specialists by zeroing in on the Sweet Spot of the business. The Sweet Spot is the intersection between your top clients’ needs, your company’s strengths (what you do exceptionally well day in and day out) and unique offering, and the systems in place to deliver that service. This process is based on the book, The Pumpkin Plan, by Mike Michalowicz.
This is a process that is even more refined than simply identifying a niche for your business. The process of Pumpkin Planning your business laser focuses on your greatest opportunity to be sustainably profitable within a well-defined niche.
Complexity is the enemy!
Standardized repeatable work makes it much easier to systematize, automate and scale a business. All of this translates into greater profitability for you (along with fewer employee headaches).
Being all things to all people will stretch your business too far. You know what you’re excellent at and whom you want to serve. The real issue is discipline. Learning to say no, setting a clear vision for yourself and your business, and identifying the players (i.e. employees, contractors, strategic partners, and yes—ideal clients) are all part of building an effective strategy.
Think about not only what you do well, but what your ideal client values.
Personify your target audience and think about their perfect reaction to your work or your product. In order to receive this reaction, what’s necessary? Who’s responsible? What systems are in place? What pleased them? Is it time? Cost? Level of service? This is all part of your sweet spot. Your compilation of differentiating characteristics is your competitive advantage.
Sure, it’s important to know what your “competitors” are doing, but you’ll get lost in trying to compete with others. There is enough business out there for us all. Find your perfectly matched clients and customers by knowing what it is that fuels you and what you are confident you do best. Then, figure out how to build the infrastructure to support it.
Fall back in love with your business.
A business with a clear Sweet Spot is much more profitable, is easier to manage, and you get to work with your favorite clients. It also makes hiring much easier. What’s not to love? As the first strategist to become certified in the Pumpkin Plan, I’ve had the privilege of a front row seat to witnessing the impact of well-executed Pumpkin Plans in our clients’ businesses. Want our help Pumpkin Planning your business?
How close are you to having a highly profitable, great place to work?
Could you to take a 4 Week Vacation™?
Take our 10 minute assessment to discover which foundational pieces you have firmly in place, and what to work on next to transform your business into a highly profitable, great place to work that allows to take a 4 Week Vacation™.Apply to work with us today!
How to Hire the Best, Contractor’s Edition is expected
to be available in Fall 2019! Stay tuned!