More on After-Pandemic Success – What is the Purpose of Your Business?
Surviving the pandemic through a strategic marketing plan is all well and good but, to prosper in the aftermath of a crisis, you will need to answer the age-old question: "What is the purpose of your business?"
(Uh, oh. Get out the wetsuit; we're getting deep today!)
You would do well to consider the purpose of any business that is successful as a model for your own, whether interior design or a luxury furnishings dealer. After all, the line "to make money" isn't going to get you very far as an after-the-crisis Mission Statement, is it?
Besides, thinking like that is superficial and, ultimately, a cop-out. Why? Because counting pennies like Scrooge just ain't going to cut it when it feels like the world is going to hell in a handbasket.
Why Go Through the Struggle Again?
Stated simply, "The purpose of a business is to offer value to customers, who pay for the value with cash or equivalents. Minimally, the money received should fund the costs of operating the business as well as provide for the life needs of the proprietor." (Alan Weiss, PhD)
The value offered, he explains, is through products or services that provide value in exchange for compensation (usually those pennies you were counting).
The beauty of this type of thinking is that you can stop worrying so much about profitability and focus on the value you have to offer. When you focus on providing value as the purpose of your business, profits pretty much take care of themselves!
Yes, it's true. When you offer real value, all that other stuff (like overhead, expenses, and the additional "costs of doing business") seems to get taken care of without much conscious thought or effort – or loss of sleep.
Now, when it comes to defining value, we have a whole new concept to consider. At a fundamental level, a client perceives value as receiving something worth more than they paid. If you can deliver that regularly, and do so honestly, you won't have to "struggle" through tough times again because they likely won't be tough for you – a recognized value giver!
While there's a bunch more that can be said about offering value and the purpose of your business in the aftermath of the pandemic, this seems like a good start. If it gets you thinking and optimistic about your future, we've done our job for now.
Business Coaching with Ted Can Help
If you're struggling with developing the purpose of your business in the face of the pandemic, Ted continues to offer business consulting support to interior designers and furnishing store owners. With more than 25 years' experience in the luxury furnishings industry and through all sorts of economic crises and natural disasters, he should be able to help you cope with all the craziness.
To get in touch with Ted, or for more design business tips, trends, and marketing ideas… Get in touch with TD Fall today.