Important Question!

[baileyuph]

What makes very successful business owners the most money?

The one trait that is essential to stand out in the crowd?  How can that ability be executed?

Think about the most important ability to make a business person wealthy.

Interested in what business owners think about this.

Doyle

[SteveA]

Quality work - good communication - organization - and most important - Luck


SA

[kodydog]

The one trait that is essential to stand out in the crowd? 

Doyle

Name recognition. you get that by advertising, location location location and word of mouth. The more you get people talking about you the more your name gets out there.

Success can be both philosophical or it can be physical. If you love what your doing and can't think of anything else you would rather do, some would call this success. On the other hand some would call success by how busy they are. And I have seen shops that are very busy but barely eek out a living.

Still others determine success but how much money they have in the bank. physical success. Nice car, nice house, nice cloths, you get the idea.

You don't have to come up with some fantastic idea, something nobody has ever tried before. Chances are that won't happen. Instead figure out what successful people are doing and do what they do. Talk to successful people. Most would love to tell their story. Most will say it isn't easy. Takes a lot of hard work. But almost anyone can do it.

Is there another shop in town that is what you would call successful? Figure out what they are doing that you are not and copy them.

If you never try something new and if you have never failed you will never be successful.

As for me, I'm right around the corner from my next great adventure.

[sofadoc]

The one trait that is essential to stand out in the crowd? 

If by "crowd", you mean the competition, there isn't much of a crowd left anymore.

I don't know if I ever stood out among my local competitors, but I've certainly outlasted nearly all of them.

There used to be about 8 full-time store front upholstery shops in my local phone book. And another dozen or so "shade tree" upholsterers. 

Some failed because they didn't do good work. Some because they didn't charge enough, others charged too much.

Some really "top notch" upholsterers have moved to this area before, and declared their intentions to become the #1 shop in town. For whatever reason, they didn't last very long. Their work was impeccable, and they had plenty of customers. But those 2 factors alone don't always equate to turning the kind of profit that makes one happy. I suspect that greed played a big role in their decision to move on.

A lot of local shops have came and went over the last 30 years. I'm still here. So I guess my secret to standing out in the crowd is by watching the crowd get smaller.

[Mojo]

Offering a great product or service that is of very high quality while also delivering that with outstanding customer service in addition to customer / technical support.

We have found that we can offer our products at premium prices ( above our competition ) because we deliver the highest quality awning products made with the very best materials on the market an then provide an amazing purchase experience ( ongoing support and service ).

We also offer the longest warranty in our industry. In other words we believe in our quality and back it up with a no questions asked replacement warranty.

Chris

[bobbin]

"Knowin' your onions".  You either know how to do the work or you don't.

Be on time.  I work by app't. only.  I work "in the field" and I'm punctual!  I show up, do my thing, go home, and do my thing again.  I schedule installation and show up on time.  Only one person gets to waste my time.... and that's me!

Do what you said you would.  Make it right whatever it takes; when your work isn't fully up to snuff fix it without complaint.  When there is a complaint skip "defensive", be polite; review the requisites of the work in question, and be patient when explaining why things are the way they are and why they are/must be that way.  Be gracious and accommodating when things are not quite right (or maybe not to your satisfaction).  It goes a long way to build customer satisfaction!

[baileyuph]

Great input!  Chris and Bobbin.  Both are worth reading again and again so we don't forget them.  It not only takes a good craftsperson/business owner to take this advice, there is an additional dimension to include the character values encouraged.

Truly, this type of advice with add to the wealth of the business.

Thanks to both of you,

Doyle