Value proposition: Does Your Company Stand Out Like a Lighthouse?

The market has changed – there are far fewer opportunities for growth. Yet customers still find it so hard to tell one supplier from the rest. It is as if they are in a fog.

Is your company part of the fog?

Most companies have taken to copying each other – even how they claim to stand out actually looks the same. In a world where different customers want different things, they find it almost impossible to know which company will meet their specific needs. More than 99% of companies are part of the fog. Are you sure your company is not?

One Percent Companies Shine Brightly

A very small percentage of companies shine like a lighthouse. They deliver a benefit that customers see as very powerful, in a way that is clearly better than anything else.

Which companies can you think of that do this? A favourite pub or restaurant? Amazon? Apple? Not many, but the few examples are impressive:

Splunk. A US based company that extracts and analyses data created by machines, e.g. routers and switches, providing incredibly useful information that was never previously available. As a result they have grown at an incredible speed to earn $66m revenue last year with 2500 customers in 74 countries. They expect to earn $100k this year. Not bad performance in this economy, is it?

Caterpillar. You would expect that expensive industrial-type machinery would be struggling. Yet their stock is performing better than any of the core companies the Dow Jones tracks – even Apple! Why? Caterpillar has understood what makes them shine in the eyes of their customers:

  • A premium brand – yet they last for decades, making them the least expensive over their lifetime
  • For their cash-strapped customers, time is money. So Caterpillar has designed such a good distribution network that machines are often fixed within just 2 hours. How many companies offer that level of service?

3 Steps to Becoming a Lighthouse

Just 3 steps. Not simple. In fact you will need to push your thinking hard … but it is worth it, 100x over:

  1. Work out which type of customers you most enjoy working with and who most appreciate what your company stands for – your niche. Be really specific, for example companies:
    • between £20m and £2bn revenue
    • determined to drive fast business growth or set the standard for their industry
    • within a defined geographical area
  2. Understand what these specific customers need. What keeps them awake at night? What are they struggling to achieve? Again, get really specific. For example:
    • between £20m and £2bn revenue
    • determined to drive fast business growth or set the standard for their industry
    • within a defined geographical area
    • Revenue is flat so how on earth are we going to start winning more of those large deals that work so well for us?
    • Productivity seems far lower than I want it to be – how can we get our people working at a far higher, inspired way?
  3. Decide what benefit you can provide that would make such a powerful difference for your niche that will make you stand out like a lighthouse.For example:
    • We are not a training provider like the others. We are experts at guiding businesses to put their business problems behind them and achieve their objectives. We ensure their people are set up and inspired to drive those changes

You are right – it will take some serious work to find the answers for your business. That is why companies copy each other instead. Do you want to continue being part of the fog though?

Companies that find the answers are the ones achieving incredible business results.

What do you need to do to make your business stand out like a lighthouse? Tell me by Click Here .

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