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Positioning in the Marketplace

Make sure you plan how customers will perceive your business.

Positioning your company is similar to creating its image. It revolves around how you want customers to perceive your business. Do you want your company to be viewed as having the finest quality (and, therefore, higher prices)? Do you want customers to know that you will go the extra mile for them when other businesses won't? Do you want to be known as the company with the quickest turnaround on projects? Or do you want to have a reputation for the lowest prices in town? It's up to you to decide what you want you company to be.

Put your thoughts in writing. Write a short paragraph describing how you want to position your company in the marketplace.

Excerpted from Starting a Home-based Business