Identify your Business Strengths in Order to Focus your Business Efforts
by Paul Beauchemin | Aug. 06, 2013
When it comes to a business, there are several different specialties that most can take. As a private investigator, this is also true. Defining your market can help you to focus business efforts in the right direction.
There are probably thousands of people out there within your region who need the help of a private investigator, but what kind? You would probably agree that each case is different and so are the needs of the client.
As a business professional, you would probably also agree that you have expertise in a particular area over another. For instance, if you have been apprenticed and trained to investigate intellectual property cases, a client with a case of infidelity is not using your skill set effectively.
Time is Money
When you are tasked with a job that is not within your particular realm of expertise, it takes longer, much longer, to get results. In fact, your per hour rate goes down with every extra day that you spend on the case. In the end, you might discover that you have taken the case at a loss.
Why did you take the case? Yes, it is an investigation and you are a private investigator, but it is not a case that is tailor made for you.
When you operate a business enterprise, the name of the game is making a profit. In order to do that, maximize the return on your investment. So, if you specialize in intellectual property cases because you know how to handle them efficiently, avoid taking cases that are outside of that scope. It is only costing you money.
The Importance of Identifying Business Strengths
Promoting your business is easier when you can tell people exactly what you do. Telling them that you are an investigator doesn't speak to what you actually do. Your business will be bombarded with requests that you can't take because they don't play to your strengths as an investigator.
Here are some of the advantages of identifying the strengths and niche of your business:
More competitive pricing for your services
Identification as an expert in your field
Here are a few questions to help you identify your business strengths.
1.What type of investigations was I trained to handle?
2.What types of investigations do I like to handle?
3.What types of investigations are popular in my area?
Once you decide on a decisive course of action all of your business efforts can be geared in that direction:
Social media marketing
Marketing plan strategies
Unless you target your business to include your strengths, it will be difficult to find the clients that your business needs to grow and thrive.
About Paul Beauchemin
Paul Beauchemin is the President of PI Profits, a results-oriented marketing, sales and customer service agency dedicated exclusively to the Private Investigation Niche. To sign up for great marketing tips via email visit http://www.PIProfitsAgency.com or call 1- (888) 344-0434 to schedule a complimentary best practice marketing investigation briefing.
About Chia-Li Chien
Chia-Li Chien, CFP®, CRPC, PMP; Chia-Li “like JOLLY,” Succession Strategist of Value Growth Institute, dedicated to helping private business owners increase their company equity value. She is the award-winning author of the books Show Me The Money and Work toward Reward and a faculty of the American Management Association. Her blog and newsletter was named a Top Small Business Resource by the New York Times You’re the Boss blog. Contact her at firstname.lastname@example.org or (704) 268-9378 .