February 7, 2013 2 Comments

When Small Business Fails to Grow – Part 3

Used FurnitureSo here’s the final word on what I think happened to this great little business. We’ve already established that the business owner was capable and knowledgeable, adept in most areas of running his store. The business was capitalizing on multiple marketing pillars and was taking advantage of many of its marketing assets such as owner expertise, location, publicity, unique product, and community relationships.

If so much was going right, what went wrong?

As I mentioned in Part 1, the owner felt that he was squeezed out because he could not compete with “the big boys”, notably Ikea.

Yes, the business could have had a more compelling USP (Unique Selling Proposition) but it was not far off. Most of the messaging about the store in some way captured how this shop was different from its competitors. It had a distinct advantage over competitors like impersonal big box furniture stores. When working with any small business client, our first step is to ensure they have a solid USP in place, because that is the foundation upon which all other aspects of the business can be built. (more…)