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Guest Post from Rich Sloan, StartupNation

Aug 6, 2008 7:57pm

There are lots of ways to describe the US economy. I’ve heard someone go so far as to call it an ‘economic tsunami’.


Rich Sloan, Co-Founder, StartupNation

Economic outlook aside, it is always a good idea to use uncertain times to evaluate your competitive strength and position yourself for success.

Here are four ideas to consider:

Enhance your offering. Help ensure you have the best chance of earning new business by augmenting your expertise with new skills. On Elance, you can even certify your skills so potential employers get a better picture of the depth of your expertise. With new and certified skills, you can add additional value for clients and stand out the next time you submit a proposal.

Truly understand customer needs. It sounds simple, but the best way to win business is to ask thoughtful questions. It’ll show that you’re responsive and committed to delivering a great result. Chances are, you’ll discover that a project is the beginning of a longer term, more meaningful customer relationship.

Stay up on trends. Read and comment on blogs (like this one!), subscribe to newsletters (and take the time to read them), and take note of important industry trends. This type of trend-watching will help you stay in-the-know and become more relevant as you present yourself for future business opportunities.

Speaking of commenting on blogs, get in some practice by commenting on this blog with your tip on how to stay competitive.

Get recognized. Win an award and augment your list of credentials. After all, someone has to win awards, and why not have it be you?

Speaking of awards, the 2008 StartupNation Home-Based 100 is now getting underway. By end of the week the annual ranking of outstanding home-based businesses will be fully functional. For now, any of you interested in registering for the competition can do so at the sign-up page at StartupNation. And you can see last year’s winners as well.

About Rich
Rich Sloan is Co-Founder of StartupNation, a leading online business advice and networking website for entrepreneurs. He also hosts the nationally syndicated talk show, StartupNation Radio, airing on over 70 stations across the country. He is co-author of the acclaimed how-to book, StartupNation: America's Leading Entrepreneurial Experts Reveal the Secrets to Building a Blockbuster Business (Doubleday, 2006).

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9 Replies
Aug 8, 2008 2:00pm
Tim Diorio

Rich,
A very thoughtful and articulate piece. Its shows how important selling yourself and your skills can be in todays economy.
Aug 11, 2008 7:02pm
Andres Riofrio

Very nice article. I think a very important part of being successful in any business is to be a charismatic, nice person. The more you connect with your customers the more likely they are to want to hire you again.
Aug 11, 2008 8:56pm
BCreativeNow

Hi Rich,

Thanks for the article! I completely agree about understanding your clients needs and enhancing your skills. In today's market it seems that customer service has become completely non-existant or has morphed into an automated phone system. I go out of my way to provide the best service possible to my customers...it keeps them coming back time and again.

All the best...
Rebecca Wiester
Aug 12, 2008 1:47am
Marlene Ward

In times of Economic Turbulence organisations cut spending on training.You are correct to emphasise the need to ascertain customers' needs with "Smart Questions". This process will allow the customers to think through their current position, show that you are committed to meeting their needs, and you should close some business.
Aug 12, 2008 8:16am
vapourlock

I second your Opinon, Rich.

I especially concur with that point on " Enhance your offering"

Businesses aren't rocket science and it is all about " what's in it for me?".

Writing, which is what I do for a living, is so much more than just punding away on the keyboard. It demands focus; an ability to grasp things quickly and put them on paper ( screen) expertly; constantly updating skills -- I've had to go back to punctuation, spellings and general writing advice from time to time. As if constant upgradation of the core expertise skills weren't enough, we have to constantly be on lookout out for new business which calls for marketing skills and good PR.

VALUE is key to business profits and if a business or a provider cannot provide that, there isn't any business, is there?
Aug 12, 2008 9:08am
Coby Neill

Here's tips on staying competitive.

1. If it's to be, it's up to me.
2. Over deliver.
3. Be honest with yourself and honest with your clients.
4. Pour passion into each and every project you work on.
5. Always make a client happy.
6. Don't neglect a loyal client ever.
7. Be worth more than your paid.
8. Make warm and cold calls.
9. Meet prospects often.
10. Do stunning work.
11. Ask for referrals. Ask for referrals. Ask for referrals.
Aug 12, 2008 1:14pm
Lisa Christie

Rich,
I agree completely with your recommendations. As an executive and career coach, I recommend to my clients that they discover their strengths and areas of greatest interest, and investigate the current needs of the market to find the best fit.

Then, by building on and communicating our relevant strengths and enthusiasm, you can uniquely differentiate yourself from other candidates/companies.

It's also particularly valuable now to take a proactive approach to keeping in touch with current and prospective customers/clients, to maintain and develop the relationship, keep you top of mind, and to stay current on the trends affecting your clients. There are a variety of strategies for accomplishing this, depending on who your ideal customers are and where they might be found... Online forums, teleseminars, membership sites, and audio and video postcards are some interesting developments.

I'd love to hear what is coming to mind for others...

Lisa Christie
Creative Leadership Coaching
Aug 18, 2008 7:23am
Tiffanie Z. Lyon, MBA

Rich,

Nice post! I totally agree! Another thing to keep in mind when you ask questions to truly understand customer/prospect needs is to use open-ended questions. Questions that begin with "What, How, Why?" will get them to open up more since rarely can they be answered with one or two words. Additionally, you can use the statements, "Tell me..." and "Explain how.." Using these techniques will help you delve deeper into their problem to determine if/how you can help them.

Regarding how one can be competitive: Differentiate. Try to present yourself and your business a little different than the rest of the pack. Have a different angle, approach things from different perspective, be a contrarian, find something unique about yourself that you can capitalize and incorporate into your branding and your offerings. Don't rely on your own abilities to do this. Invest in a coach or consultant to help you look at yourself and your business with fresh eyes. Happy Selling!
--- Tiffanie Z. Lyon, MBA, Author of "Sales is NOT a Dirty Word: THE Inspirational Selling Guide for Non-traditional Salespeople.
Aug 18, 2008 9:58am
Moffat Welsh

I very mcuh enjoyed this article. I was leader of my old company's Green Marketing Task Force and avoiding the label of greenwasher is not as easy as it seems as this is such a rapidly evolving field. I have had the opportunity to work closely with the office of a congressman in Maryland who is extremely knowledgeable and it was very eye opening.

Thank you Rich for bringning this important topic to the forefront.