- Joined
- Apr 21, 2008
- Messages
- 200
Rep Bank
$280
$280
User Power: 8%
Question: Is it possible to change the basic premise of a pre-existing business? If so, how?
I was re-reading the sticky topic on having a successful business premise and thinking about how my carpet cleaning business provides value for people.
1) My business makes people feel better about having a cleaner home.
2) I help solve the problem of having a dirty carpet, such as an unsightly spot or dust mites.
3) I educate clients on the value of a clean carpet.
4) Clients feel better about having their home showroom perfect for a party.
5) Most clients feel thrilled and relieved when I’ve solved their carpet problems.
The problem is that although I provide incredible value for what I do, it is based on something that people don’t want to buy. People will avoid cleaning their carpets for as long as is physically possible. So in reality, I’m providing something that is of little value. Thus, I would conclude that I need to change my business premise.
So what values do I change my business premise to target? What do people value today? Some people value what I provide, but they are far and few between, though enough to keep me afloat for now. The obvious, generic answer would be “saving moneyâ€, though if you can think of anything else, please let me know.
How does what I do save people money? Very little, really. They have to pay money to get their carpets cleaned by anyone. The only way I would be saving people money is if they were already losing money and calling me would help them lose less. To my knowledge, this means one of two things:
1) They are price shopping and I can offer a lower price than the next guy.
2) They are selling their home and I can clean for less than the cost of replacing the carpet.
The first scenario is a losing battle. Someone will always always always be willing to undercut my price, no matter how low I go, because I actually have ethics. I’m unwilling to use bait-and-switch tactics, because I actually like to be able to sleep at night. Maybe that’s a weakness on my part. I care too much. Not to mention, I don’t currently have the ability to replace 80% of my client base per year, which is the standard for my industry. I currently lose 6% of my client base per year, mostly due to natural attrition.
The second scenario is where I’m currently generating what few new clients I am getting. However, given the slow real estate market, I don’t see how I can count on that being a reliable source of clients.
I think I’m in a business that is based on a bad business premise. It simply does not provide enough value to enough people, even with addon services like oriental rug cleaning or leather furniture cleaning. I think the same goes for my entire industry, really. How can I change that?
Thanks for the discussion.
I was re-reading the sticky topic on having a successful business premise and thinking about how my carpet cleaning business provides value for people.
1) My business makes people feel better about having a cleaner home.
2) I help solve the problem of having a dirty carpet, such as an unsightly spot or dust mites.
3) I educate clients on the value of a clean carpet.
4) Clients feel better about having their home showroom perfect for a party.
5) Most clients feel thrilled and relieved when I’ve solved their carpet problems.
The problem is that although I provide incredible value for what I do, it is based on something that people don’t want to buy. People will avoid cleaning their carpets for as long as is physically possible. So in reality, I’m providing something that is of little value. Thus, I would conclude that I need to change my business premise.
So what values do I change my business premise to target? What do people value today? Some people value what I provide, but they are far and few between, though enough to keep me afloat for now. The obvious, generic answer would be “saving moneyâ€, though if you can think of anything else, please let me know.
How does what I do save people money? Very little, really. They have to pay money to get their carpets cleaned by anyone. The only way I would be saving people money is if they were already losing money and calling me would help them lose less. To my knowledge, this means one of two things:
1) They are price shopping and I can offer a lower price than the next guy.
2) They are selling their home and I can clean for less than the cost of replacing the carpet.
The first scenario is a losing battle. Someone will always always always be willing to undercut my price, no matter how low I go, because I actually have ethics. I’m unwilling to use bait-and-switch tactics, because I actually like to be able to sleep at night. Maybe that’s a weakness on my part. I care too much. Not to mention, I don’t currently have the ability to replace 80% of my client base per year, which is the standard for my industry. I currently lose 6% of my client base per year, mostly due to natural attrition.
The second scenario is where I’m currently generating what few new clients I am getting. However, given the slow real estate market, I don’t see how I can count on that being a reliable source of clients.
I think I’m in a business that is based on a bad business premise. It simply does not provide enough value to enough people, even with addon services like oriental rug cleaning or leather furniture cleaning. I think the same goes for my entire industry, really. How can I change that?
Thanks for the discussion.
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today
