Recently I ran across an article which struck me with its brilliance. We live in world which rewards global reach, so to see an article in Newsweek entitled Keeping it Local; I was intrigued. The article highlights how budding entrepreneurs, not to mention even large companies, can build profitable businesses by focusing on a few basic tips which play to our human instincts to support folks in our local communities. The entire article is worth a read; yet, here are just a few gems to consider:
- Find a unique market. Be the BEST in that market. If it is selling cherries, as in the case of Cherry Republic one of the companies they interviewed; be the best provider of cherries. Period. Stay focused. They sell about $9 million dollars of cherries annually, coming from about 175 various cherry products. Wow, really?!
- Forget the Walmart Types. There are some companies who will always be able to provide cheaper products and services. So what? Often that is simply not what we want to buy; so why should we cower to that sole approach? We may offer higher quality services or more personalized service. That is what we need to focus on and play up those strengths and differentiators.
- Be patient. This is a hard one – for me, anyway. We have to realize that investments often take time to pay off. That is the simple truth. However, there will always be a market for innovation, quality services, and business conducted with integrity. We just have to keep our plane on the runway – the plane will ultimately take off!
- Show your soul. People love to support others who give back to their community. I know I do. I have also learned that showing heart and compassion in our work-life is contagious. We foster this in others, and it becomes a wonderful cycle of giving.
We don’t have to be the biggest, the most global, or have the broadest offerings to be wildly successful, highly profitable, and provide quality service to our clients and our stakeholders. “Going Local” can become the cornerstone by which our greatest foundations are built.