Coming up with business ideas -2
Coming up with business ideas for merely making money quickly turns into a slippery slope I explored in the first installment. Everyone competing by lowering prices ends up at the bottom of the pack. We can get turned around and climb upward by coming up with ideas for superior products and services. The better our offerings, the more we can charge for them. The customers in this better space believe they get what they pay for and that it pays for them to pay more for something. They feel like winners who succeed by shopping for the best features and benefits on the market. They demand the best and reward the providers who can meet their expectations consistently.
To come up with ideas for superior products and services, we need to get to a better place than thinking about making money. We need to explore how to upgrade the product, improve the design and enhance the features. We want our offering to look better, feel better and function better than every other offering. We can use our competition to fuel those ambitions. We're figuring how we can beat their products and services when they get compared to ours by customers or consumer advocates. To deliver higher quality consistently, our business idea must include a production system. We'll need to set up factory-like procedures, mechanisms and delivery systems. We'll aim to eliminate mistakes and make routines much more efficient as if our business can become a fine tuned machine.
When we're thinking this way, we're in a place where a winner takes all and winning occurs at others' expense. We're a match to customers who think this way and like what they see in us as their mirror. In this space, we assume we're superior to all those losers who shop for bargains in their space of lack and insecurities. We're unaware of our power supply because we've got plenty of power to burn. We like the atmosphere of dealing with powerful customers who know what they want and demand the best above the rest.
It costs a lot more to run a business in this space. Customers don't already know they need what we're offering. They don't realize what we're do is superior to what they're already buying and bragging about. They have a lot to learn and are not exactly ready to listen. Most of the extra money we can charge for the superior goods and services gets spent on sales and advertising expenses to educate potential customers about our superiority. We have to push our products into a market that is preoccupied with seemingly inferior goods and services. We may also spend more on better supplies or on keeping more inventory on hand. It's very possible to make even less profit in the high end of the market with all these added expenses.
When we're in this space of succeeding, we're quick to dismiss any feedback that we're selfish, greedy, pushy or overpowering. It appears our critics are envious losers who want what we've got. We cannot connect the dots between this space of succeeding and our growing dissatisfaction and burnout. We may end up wondering if we're not cut out for succeeding in business or for coming up with a viable idea. We've become ready to find yet another space for coming up with business ideas.