In the previous post, Focusing On Sales Dollars Can Hurt You, we learned that businesses get stuck when they fail to focus on profitability. They do this by getting sidetracked by the "bling" of sales dollars. Focusing on profitability enables businesses to discover the customer niche that will allow them to flourish. All customers are not equal to your business. Realizing that some of your customers derive more value from your business than others is a step toward understanding your niche. You discover these niche customers. They were always there! Now, the next step is to concentrate your resources to serve them. Lesson: Some customers derive more value from your business. These are your niche customers. In the fresh foods distribution business, concentrating resources on our niche customers means many things. First, we develop software for their reporting so that the retailer's profitability is foremost. We recruit and train professionals who focus on the retailer's success and profitability. Providing a product assortment for their customized menus helps them delight their shoppers. Specialized training for their staff positions these retailers with the advantage in freshness, quality, and lower cost. All this unleashes the retailer's profitability in these critical departments in their stores. Allocating the needed resources to become the experts in merchandising, profit planning, and accountability systems positions us as the attractive expert to the customer in their businesses. Merchandiser training, food show seminars, and employee selection training helps our customers build a deeper moat or entry barriers to their competitors. Lesson: Becoming the expert at helping your niche customers succeed releases your business profitability and impact. Multiplying your profitability allows you to bless your community and advance your purpose. Harry T. Jones P.S. Connect with me on LinkedIn. Let me know if these messages are helping you. CLICK HERE GET NEW CULTIVATING IMPACT BLOG POSTS IN YOUR EMAIL INBOX: CLICK HERE
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