The Perfect Business Model Is The Tailored Business Model
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If your bills are pulling you in every direction, being flexible can be a saving grace. Diversifying your services and quotations can help keep your SME’s head above water during financially trying times. After all, when it comes to winning new business, one size does not fit all.
As the owner of SOCIATE, a Dubai-based communications agency that was once a startup, the secret to my success is a tailored business model. As a former student of fashion, I have learned that everything needs to be altered to fit the situation just right. This can be a challenge for bigger agencies that have proposal requests and new clients pouring out of their ears.
Instead of joining the rat race to balloon SOCIATE into a large communications agency overnight, I strive to make a meaningful impact on the industry. While undercutting a competitor’s proposal is a trick that could result in a quick business win, that’s not the route I want to take. Up for anything, SOCIATE’s doors are open to clients with businesses of all sizes.
With flexibility as one of our core values, we tweak and tailor a proposal until it fits our prospective client’s specific needs like a well-worn glove. Nurturing this approach to business has helped us grow a portfolio rich with diverse clients. We have worked on annual conferences for semi-government entities, as well as organized trampoline parties. We don’t believe in restricting ourselves to a niche- there’s simply too much out there to learn from!
As a solopreneur or small business owner, keeping your company ticking over needs to be your primary concern. At a formative stage, keeping yourself open to interesting opportunities is critical. While Chanel is an account that sits at the top of my bucket list, I don’t let my pining for that account distract me from the wealth of business opportunities that surround me.
Creativity is a tool you definitely want to keep in your tool box. At SOCIATE, our conference table is a buzzing beehive of new business ideas. After four years of offering PR, we took this service up a notch by adding guided workshops, brand discovery sessions, PR consultations, and personal PR to the list. We’ve done the same with our marketing and social media offerings.
As for why one should do all this: anticipating your client’s needs, and satisfying them before being asked is definitely a shot in the arm for your business. You want to create a sense of comfort in your client’s heart. Like you, they have invested a significant amount of time and resources into their brand. As tumultuous as being a business owner is, let your client know you have everything under control. Create tangible value in the service you offer them, and be a rung in their brand’s ladder to bigger and better things. Repeat business and customer loyalty will be your client’s way of thanking you.
In a hyper-competitive industry, it’s survival of the most flexible.