8 Tips For Determining What You Don't Know
1. Find Out How Your Competition Is Doing. Ask yourself if your competitors are doing better than you are. What do they know that you don’t? Are they asking questions and responding to the answers? Did you see your competitor try something new and tell everyone you thought of it years ago? Thinking about it is
one thing but doing something about it is what separates successful businesses from mediocre ones. Thinking about it doesn’t make the cash register ring.
2. Ask Your Customers. Your customers know their own needs, likes, and dislikes. It’s up to you to draw that information from them. One customer may have a specific need that is shared by many other customers. If you satisfy that one customer, you may have found a product or service desired by many others.
This opportunity is right in front of you, waiting to be recognized.
3. Question Suppliers. Talk to your suppliers about new ideas. They know what your competition is doing on a regular basis and might have a greater awareness of newly-developed, proven opportunities within your industry.
4. Spot Unhappy Customers. Turn a negative situation around. Have you learned to spot an unhappy customer? Do you try to find out what is wrong or do you just assume that he or she is grumpy? Is your first reaction a short-term one — to solve the immediate problem— or do you invest the time to discover the root of his or her concern?
5. Find Out How Big The Problem Is. Is the problem bigger than the one customer who voiced it? 80% of unhappy customers will never tell you they are dissatisfied. They may tell their friends about your inability to satisfy them, but they won’t tell you. Sometimes, a problem can be turned around and become a
huge opportunity. If you realize that you do not have all the answers, you will be more inclined to take that unhappy customer aside, buy him or her a cup of coffee, and ask for help. People are flattered that someone values their opinion and they will usually give you the time needed to explore the problem and help you turn it into an opportunity.
6. Go Outside Your Industry. Don’t restrict yourself to your own industry. Expose yourself to other businesses in different industries, and learn how they promote themselves, deal with customer service, and gather information. Review magazine ads, visit websites, read brochures, and visit their stores. What are they doing right and what are they doing wrong? What turns you on as their customer and what turns you off?
7. Attend Trade Shows. They are a gold mine of new ideas and great places to ask questions and get instant answers. Investigate ideas that are new to your industry and to you. Pick the shows carefully and use your time wisely. Identify specific questions and seek specific answers.
8. Use Comment Cards or Online Surveys. Comments from past customers are filled with ideas, directions, and opportunities. Some ideas will be good, some bad, and some great. Being open is important. Accepting the fact that someone else may have the answer is the first big step.
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