Chapter 21

All she could hear was just his words, there was no other noise coming from there except people breathing. She was enjoying every minute of his presentation, she has heard some of these things before, but now she felt as if she was hearing it for the first time and it made her think more and pay more attention to him. He took a break and reached for his water and continued. She envied him at the same time appreciated him for his art of presentation.

Next look at your competitors. What you want is to add things to your products and services that your potential customers value, that don't cost you very much but that cost your competitors more. If you can find something like that, you have a competitive advantage. You'll be able to set your prices lower than your competitor and you'll get the customers that value what you've added. If everyone selling into that market acted that way, then each competitor would add those things which he did the best and at the lowest cost. Each competitor would have the best price for what he did best. The customers would win all around and everyone would make a fair profit.

That's the theory. It doesn't always work out that way but it's still the best strategy for a small business and, if you stick to it consistently, you will be able to compete effectively in most markets. Now, let's look at the details of how to apply this strategy. In order to apply this strategy you have to guarantee quality. How to make sure your customer gets the quality of products and services you intended to deliver and he has paid for. Let us discuss this in detail tomorrow and have good evening gentlemen.