Good, better, best.
Never let it rest.
‘Til your good is better and your better is best.
Written by a Catholic Scholar around 345 A.D., this statement has the cadence of a jump-rope chant, but it could also be a mantra for how to run a business. It’s a philosophy that says you will never rest until each, and every customer receives the best you have to offer.
But is that smart business?
What if your customer only wants good and can only afford to pay for good? Is it wise to invest the time and resources required to make it the best?
Every business has a niche whether they know it or not. Our niche at Raven Machine was machining low-quantity, large, complex, close tolerance, cast iron parts. This kind of work demands expensive equipment and highly skilled people. It wasn’t cheap. We looked for customers who wanted—and were willing to pay for—better or best.
When you look at your niche, be brutally honest with yourself. You want to provide the best product or service money can buy, but do you have the resources to do it? Do your customers demand the best? Does what you offer match the needs of your customers?
If they don’t match, is it time to:
- Identify new markets?
- Find new ways to add value?
- Find customers that more closely match the products or services you offer?
Identify the market you want to serve and who you consider your ideal customer. If you need help, bring in a professional. You are crafting the future of your organization. It needs to be done right.
When you’ve identified your forte, find potential customers, and grab their attention.
- Plan a promotional campaign.
- Develop a message that resonates with your target market.
- Design a marketing strategy that succinctly states who you are and what you provide.
The more what you offer meshes with what your customers expect, the more profitable and enduring your relationship will be.
The road is easier together,