The reading level for this article is Novice
Last week, as I walked out of the local Borders store, I suddenly understood why they are one of my favourite stores. It’s really simple – Borders has a number of features that is common in all great businesses, big and small. In this article I will share with you some of these features that will make a business great, successful, and ultimately, profitable!
One of the most important aspects that any business must address is the issue of “uniqueness”. This one issue can mean the difference between success and failure. You see, if a business can’t stand out from the crowd, it will find it very difficult to attract customers. And ultimately, a business without customers means no cash-flow, and no cash-flow means that the business will have to fold.
So, how do you go about making your business unique? To me, “unique” simply means “doing something that is different from what other businesses are doing”. It doesn’t have to necessarily be the products (although it helps a lot if the products are unique) or the price. It could be a simple as listening to customers and taking care of their needs. Let me illustrate the point of uniqueness further with my experiences from shopping at a Borders store.
A Borders bookstore is unique in a number of ways. I don’t know if you have noticed this or not, there are actually sofas and tables where you can comfortably sit down and read the books. In fact, you can even have a cup of coffee while you’re at the store! Now, you might think that this is not a deal, and that’s where you are wrong. How many bookstores can you think of that have coffee and beverages, provides seats ad tables, and have a large music, video, and DVD section?
I bet there aren’t many.
In fact, it’s because of their uniqueness that Borders are so successful. Their share price is on the up. Their customers are returning because of the comfortable sofas, coffees, and the large selection choice. It’s no wonder Borders are standing way out from the competitions. All business owners can learn something from Borders – all it takes is to be unique and looking after the customers.
Running a successful business can be so simple… sometimes!