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Small Business Success

It was through Rich Schefren that I first heard of Eli Goldratt and his Theory of Constraints management philosophy that has forever changed how I look at business productivity.

In my tribute to Billy Mays King of The Sales Pitch, I mentioned Rich Schefren’s own tribute, which I consider one of the most important marketing case studies I’ve ever read on a blog.

Well, in his continuing tribute to Billy Mays, Rich Schefren has released a Billy Mays-style video that really falls flat (in my opinion) from a likeability standpoint, but contains one of the most powerful lessons for experiencing small business success.

The lesson is not explicitly stated in the video as I’m going to state it here, but watch the video, and you’ll get the combined benefit of this mini-lesson and the wisdom of a marketing maven.

Lesson #1
The single most important marketing question your business must answer from the prospective customer is:
Why should I do business with you?
In my consulting practice I call the answer to this question your “Differentiating Value Proposition” (D.V.P.) or Unique Selling Proposition (U.S.P.)

Lesson #2
The contribution I’m now attributing to Rich Schefren is the need to consciously expand the concept of a USP to apply not just to prospects and customers, but to every other stake holder in your business success.
Stakeholders such as:
Prospects, Clients, Employees, Freelance workers, Affiliates and JV partners.
In other words, these groups are also asking, “Why should I do business with you?”
Your business must define a “Superior Engagement Value Proposition” in answer to their query.

So check out the video, and comment below to let me know your thoughts.