One Stop Shop

Before Jeff Bezos & Co. blew up traditional distribution channels, there was some value in being the local guy or gal. Being the local product retailer was a good business and being a regional distributor of a popular line could make you a mint. Those days are almost over.

In a world where anything is available at the click of a mouse, the fact that you’re local means very little. To build a valuable company, you need to go beyond your physical location as a point of differentiation and cultivate a new value proposition. We refer to this process as improving your “Monopoly  Control.” The name is inspired by Warren Buffett, who likes to invest in companies with a wide “competitive moat” — essentially a defendable point of differentiation.

While being a local provider may have gotten you into business, it’s not going to be enough to get you out for a decent multiple. To build a valuable company someone may want to buy one day, you need a fresh sales angle.

If you find yourself clinging to the “one-stop shop” sales message, consider evolving to something that truly differentiates you in a world. Example: Amazon (and its various e-tailing competitors) will ship you just about anything, anywhere, overnight.

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Franne McNeal, MBA Significant Business Results, LLC Significant GPS Small Business Growth Services