A few days ago I ran across a newspaper article that was supposed to be useful for readers looking to buy a laptop. It seemed to me it was either written by someone who knows nothing about computers and technology in general, or that they had found a very old article and translated it poorly. Either way, any reader trying to get advice from that article would have failed miserably. The paper obviously had no one tech savvy enough to write such an article. They still wanted it written and published it as it was, regardless of consequences.
Thinking of it, I realized there are actually quite a lot of businesses out there who claim to be able to do things they have no idea of. They are clueless about their real knowledge, talen and capabilities.
A great business strategy requires to give the same importance to what you can and can’t do for your customers. Each company has limited resources, be it time, number of employees or knowledge. While they might be brilliant in one field, they may not know enough or be completely unfamiliar with others. Knowing your limitations is important when designing a list of services or products to then be promoted and sold.
Once a potential client sees a product or service you are promoting, they will take it as something you are able to do. You know how to do it, have the time and personnel to do it, so contracting it would obviously lead to them getting that product or service delivered in proper conditions. Failing to do so would entail multi-level losses for a company. First off, they lose the client in queston and all his repeat purchases. Secondly, they lose all potential recommendations that person would have made. And if you’re unlucky enough, you might be facing quite a wave of negative comments and reviews from such customers.
While even the best companies might have unsatisfied customers, continuing to misleadingly claim you can fulfill tasks you are unable to would definitely lead to an increased number of negativity from customers which will help position your company as unprofessional and unreliable.
The best way is to think carefully when launching an initial list of available products and services. Make sure they all come with high standards of quality and that you do not take on more clients than you can handle without reducing that level of quality. For each new customer or newly added product or service, you must consider your resources and knowledge and decide if you can offer at least the same quality, as you should strive to be better at what you do. This simple, common sense strategy will help you expand in a manner that keeps old and new customers happy and boosts your credibility and overall brand potential instead of shattering your good name.