With an economic downturn there comes opportunity.
But, that opportunity comes for those that do the best for the top end or those that do the best for the bottom end (we're talking about businesses).
The problem is what happens if you're somewhere in the middle?
In the middle, there are transactions.
In the middle, there is competion, lots.
In the middle, your renting customers.
In the middle, your retention is limited.
So do you stay in the middle or engineer out and up or out and down.
Or do you stay where you are, waiting for the market to close and gaps appear.
This week I was talking to a business owner, wish company has a turnover of £25m annually, their biggest competitor is wren Kitchens.
What Wren has done is set up camp in the middle market, and is tactically taking market share up and down the value chain.
How do you respond we discussed.
He said "we've been going for over 40 years, but we've never told our story".
I said if you can find people to understand your back story, to see that you are experts, show that you have been listening to your customers for 40 years, and ONLY deliver a high-end the best of service, you'll bring people towards you.
Who you are, what you are, and where you come from is a back story to build, so get building.
#team #people #growth #argybargy
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Phil (Founder and Director of DX3.co.uk)

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