Many businesses have valuable products and services that solve unique needs in our world. However, even with these valuable offerings, they do not reach their full potential because they lack an integrated system that supports their core product or service. As a result, not only do they lose out on opportunities to expand their services, but also the markets they serve. Luckily, both new and existing entrepreneurs can avoid this barrier by developing a system suited to their expertise. And to show you why this matters and how you can implement the same, we will use engine stands as our inspiration.
The Link between Engine Stands and Business Environments
What comes to your mind when you think of an engine stand? From the outside looking in, the engine stand is a stable wheeled platform that allows technicians to work on engines. But when you pull the layers apart and visit sites like Magnetic Enginestands to see this equipment in use, you realise that the engine stand is responsible for providing a stable and controlled environment, which plays a critical role in operations. And without it, not only would working on engines pose a high risk, but it would also be time-consuming. In the same way, businesses that operate without a sound environment run the risk of losing money and wasting time on non-essential tasks, all of which undermine the primary business goal: making a profit.
With this understanding, let us see how we can model sound business environments using the engine stand as our guide, as follows:
1. The Product or Service
For the engine stand, the engine is a valuable product that it supports. In a business, this product or service is the unique offering that the business offers to its market. For example, a bakery may offer cookies as its product.
2. The Platform
As we have said, the engine stand serves as the platform on which the engine rests during operations, thus offering stability and control. In the business context, this should be the system that supports the business’s core offering. It can be an app, a website, a CRM system, a store, etc. Using the bakery as our example, we can assume it has a website that showcases its cookies and provides customer support.
3. The Support
The engine stand comprises bolts and mounts, all of which add to its reliability and security. So, how can a business ensure the same? – By investing in technologies and relationships that enable it to streamline its offering. These can include website hosting services, hiring a legal team, working with a reliable payment processor, and so on.
4. The Distribution
Given the heft of engine stands, technicians conduct operations on shop floors. Here, they have good visibility and access to all the tools needed to work on the engines. Accordingly, every business needs visibility. And what better way than to advertise your products in the marketplace? For many businesses, the best options are social media and e-commerce sites, as these allow you to generate traffic that you can then direct to your main platform. For example, the bakery can use Instagram to market its cookies and add links to its website for ordering.
Doesn’t that sound practical and simple? To implement this engine-stand-inspired winning strategy, identify the value you offer the market, build your own platform (e.g., a website) to interact with your customers directly, establish legal and financial frameworks to protect your business and its clients, and start advertising your business.
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