By: Diana Herzan | October 23, 2017

Is there anything proprietary about my business?

Any time you can get five or more wealthy, successful people in one room together, if you’re listening, there is bound to be something of great value to be learned. I watch a lot of Shark Tank and wish that more independent business owners would do the same. It is some of the best free education a business owner can soak up. In particular, one of the questions that gets asked often is, “Is there anything proprietary about your business?” Here's why this question is the focus of the rest of this article.

“Is there anything proprietary about your business” sounds like a great question if you are talking things over with a potential investor. The investor wants to know how unique, special and uncopiable your business is to determine if you are invest-worthy.  There are more reasons than this, though, to ask yourself this question.  In my business, I work with many small service-oriented businesses; electricians, plumbers, handymen, painters, landscapers, etc.  There is nothing proprietary about any of these businesses.  I'm not trying to be blunt, just truthful.  They all compete with many, many other businesses a lot like themselves.  So, if there is nothing proprietary about these businesses, what should they be doing to draw in the merit worthiness of investors or for that matter, customers?

Let’s back up first, for a minute and look more closely at the term "investors."  There are certainly the Shark Tank type of investors out there, but not all small service related businesses will seek or get investments from sharks.  They will, however, “become  invested in” by customers.  Every time a new customer decides to give you their consideration, let alone open up their wallet for you, they are in essence, investing in you.  Investments, that mind you, can provide more mileage for you than you may realize at their first glance!  Business owners that agree with this should be asking next, what they need to be doing to stand out in order to receive these customer investments.  If there is really nothing proprietary about YOUR business, than you've got to have a smart Plan B in play, something that shows others an "exclusively YOU view," something no other business can claim as theirs.

To put things in perspective, let’s use electrical companies as an example.  According to records from the Minnesota Department of Labor and Industry, there are 5495 electrical companies listed in Minnesota.  A lot of competition there.  Imagine if one or even a few of them had something proprietary, something only they provided, something of value no one else could give anyone but them?  Imagine the sales pitches those companies could give!  When we consult with businesses, we are practically jumping up and down over this one.  We think that every one of the 5495 electrical businesses, and your business, and everyone’s business falls into the same category!  All of you have only got your best legs to stand on!

Your best legs fall back onto your company’s reputation, something you always have.  Something you are always (hopefully!) building.  Your reputation is the only thing you’ll always have to get you through to the next “investor!”  After we are through jumping up and down, we try hard to reinforce to all businesses that their reputation is the best, the strongest, the most effective, and the biggest money-making tool they have.  If your business has nothing proprietary about it and neither do your competitors, the only trump card you can play and win with is your reputation.  It is the only thing that is solely YOU, uniquely YOU, and tells all about YOU.  For all intents and purposes, your reputation is the only proprietary thing about YOU.

If you aren’t already thinking of things this way, the best time to start is now.  To ensure you are doing all that you can towards building a rock solid reputation that wins, follow up with questions for yourself like:

  • What should I be doing to gain more trust from potential customers
  • What can I do to gain exposure to the level of trust my past customers have given me
  • How can I nurture trust from potential customers who have indicated they are considering working with my company
  • How can I ensure my employees or team members understand how they impact my company’s trust levels
  • How can I turn my company’s trust into more money for my business
  • Where and how can I measure actual impacts trust has on my business
  • Can I detect areas where I am losing business as a result of customers' uncertainty about trusting my company
  • Can I reverse areas where I am losing business as a result of customer uncertainty
  • Can I tell how my company’s reputation is perceived by current customers who might need my services

Our advice to you if you are a business owner is to consider answers to the above questions as ingredients that will spice up your profits and successes on a daily basis if you take them seriously enough.  If you’ve got nothing proprietary about your business, looking to the power of your reputation is the smartest card you have to play. 

When consumers have repairs to make, projects to get done, challenges to work through, they seek out the best problem solvers to help.  96% of consumers will conduct a due diligence process to find the right problem solvers.  Of those people, 97% will be swayed by how well they perceive a company can help them, how much that company will have their backs, and how well they have proven these things to others in the past.  Yup, that sums up your reputation!

Did you know there are hundreds of things you can be doing to help gain the trust of potential customers?  Some are tiny things that make a big difference.  Most are small things that collaborate and culminate into big time wins for your company.  Check in with us to dig a little deeper.  You’re always invited to book a free consultation time slot with us.  We won’t promise not to jump up and down, but we will promise to answer the questions you may have.  Click here any time you want and schedule some free time with one of our team members.  Minimally, our goal is to send you on your way with a new arsenal full of ideas and steps you can take to  ensure your company is not only earning the highest levels of trust from your potential customers, but that your company is earning higher profits and greater successes as a result of your trust.   Go ahead.  Book some time with us to chat.  We look forward to our conversation.

Have you subscribed yet to our blog?  Please subscribe today above and share this information with others in your universe that might benefit from this content.  Feel free to comment and share your thoughts, as well.  Looking forward to staying connected with you.

Credit image to:

Subscribe to our blog!  Looking forward to staying connected with you!
Diana Herzan

Category: Reputation 



Rakesh sharma

Posted on : July 17, 2019

Shark Tank combines reality show drama with one of my favorite topics, venture capital investing. It’s been a hit since launching in 2009 but is much more than just good entertainment -


Posted on : November 23, 2018

I really enjoyed reading your article. I found this as an informative
and interesting post. So, I would like to thank for a very useful and
knowledgeable blog. <a
href="">Microneedling pen</a>
<br />

bill save

Posted on : October 29, 2018

Nicely page i like it : <a href=""></a>


Posted on : October 25, 2018

It&#39;s really great to work from the author to share their useful
thoughts and ideas to people. <a
href="">Car Service Boston</a>
<br />


Posted on : October 25, 2018

I just read this article and it was quite good. This is a great article.
Thanks for sharing this informative data. I will visit your blog
regularly for some latest posts. <a
Cod Limo Service</a>
<br />


Posted on : October 25, 2018

Good Blog! I truly love how it is easy on my eyes and the data are well
written. <a href="">Livery Service</a>
<br />


Posted on : October 25, 2018

It&#39;s actually a great and helpful piece of information. I am glad
that you shared this helpful information to us. <a
href="">Buy Instagram Followers UK</a>
<br />


Posted on : October 25, 2018

Thanks for sharing such a great article. Looking forward to seeing more.
<a href="">Non
Surgical Eye Lift</a>
<br />


Posted on : October 25, 2018

I really enjoyed reading your article. I found this as an informative
and interesting post. So, I would like to thank for a very useful and
knowledgeable blog. <a href="">Buy
Instagram Likes UK</a>
<br />


Posted on : September 28, 2018

I needed to thank you for this great study!!! I definitely enjoying each
little bit of it I have you bookmarked to verify out new stuff you post..<br />
href="">graphic tshirts</a>


Posted on : August 01, 2018

It is good to have the ability to read a good quality article with
useful information on topics that plenty are interested in. The point
that the data are written is all first hand on actual experiences even
assist more. Go on doing what you do as we like reading your work.<br />
<a href="">casual shirts</a>


Posted on : July 03, 2018

This is a very good article, I discovered your blog checking aol for a
related subject matter and came to this. I couldn&#39;t find to much
other information on this article, so it was nice to discover this one.
I will be back to look at some other posts that you have another time.<br />
<a href="">best school in haryana</a>


Posted on : June 18, 2018

Great write-up. I have certainly enjoyed browsing your blog posts.<br />
<br />
<a href="">Paramedical College North india</a>


Posted on : June 01, 2018

To promote business marketing is the good thing. The products should be
ideal and fresh. Good products should be sold. They should have proper
idea about the business and the product. They should be well firm in
selling the product.<a
companies near me</a>

Sophie Miller

Posted on : May 02, 2018

I thank you for the information! I was looking for and could not find.
You helped me!<br />
<a href="">moe
gotta know</a>

Cheating girlfriend

Posted on : April 12, 2018

I liked your article and I hope you will have many entries or more <a
href="">Cheating girlfriend</a>

Remedies for Asthma

Posted on : April 02, 2018

I will be interested in more similar topics. i see you got really very
useful topics , i will be always checking your blog thanks <a
for Asthma</a>

Remedies For Insomnia

Posted on : April 02, 2018

You re in point of fact a just right webmaster. The website loading
speed is amazing. It kind of feels that you&#39;re doing any distinctive
trick. Moreover, The contents are masterpiece. you have done a fantastic
activity on this subject! <a
For Insomnia</a>


Posted on : April 01, 2018

Such a very useful article. Very interesting to read this article.I
would like to thank you for the efforts you had made for writing this
awesome article. <a href="">Broccoli</a>

Red Cabbage

Posted on : March 31, 2018

I wanted to leave a little comment to support you and wish you a good
continuation. Wishing you the best of luck for all your blogging
efforts. <a
href="">Red Cabbage</a>

Remedies For Snoring

Posted on : March 31, 2018

First You got a great blog .I will be interested in more similar topics.
i see you got really very useful topics, i will be always checking your
blog thanks. <a
For Snoring</a>

Benefits of Chicken

Posted on : March 31, 2018

Very interesting blog. Alot of blogs I see these days don&#39;t really
provide anything that I&#39;m interested in, but I&#39;m most definately
interested in this one. Just thought that I would post and let you know.
of Chicken</a>

Spruce Essential Oil

Posted on : March 31, 2018

I can set up my new idea from this post. It gives in depth information.
Thanks for this valuable information for all,.. <a
Essential Oil</a>

Spruce Essential Oil

Posted on : March 31, 2018

After reading your article I was amazed. I know that you explain it very
well. And I hope that other readers will also experience how I feel
after reading your article. <a href="">Cloves</a>


Posted on : March 31, 2018

I just got to this amazing site not long ago. I was actually captured
with the piece of resources you have got here. Big thumbs up for making
such wonderful blog page! <a href="">Cloves</a>


Posted on : March 09, 2018

<br />
The watch features a one-way rotating bezel with <a
title="replica uk watches">replica uk watches</a>
a 60-minute progressive scale that allows divers to accurately
calculate the <a href=""
title="rolex replica watches">rolex replica watches</a>
time. The watch is equipped with a Rolex <a
href="" title="omega watches">omega watches</a>
Model 3130 self-winding movement that provides about <a
href="" title="uk replica watches">uk
replica watches</a>
48 hours of power storage.<br />


Posted on : February 17, 2018

Great Post... Nice share for me, maybe nice for all reader of your
post.. thanks<br />
<a href="">Mac pro dealers in Kolkata</a>
<br />
<a href="">System Integration service providers</a>

Alicia Gill

Posted on : January 26, 2018

The speculators on Shark Tank, and financial specialists for the most
part, ordinarily make a few particular inquiries to find the solutions
they require <a
my Assignment</a>
some are direct and somewhere in the range of somewhat trickier, yet
hopefuls would be astute to have superb answers arranged or tailor their
pitches to answer each immediately.

jessica alex

Posted on : December 28, 2017

Some extremely thoughtful details have been shared in the post. It is
quite true that hard times in life can make us strong and survive in the
<a href="">write my
college paper for me</a>
most difficult situations in the future. Good to read about the
experiences you had during the period of disease and the way you have
managed those times.

Post a Comment