The service industry is one where competition is high and fierce. Start-ups are fairly low in part because the majority of work is dependent upon the entrepreneur selling his or her skills. One major problem is that companies offering very similar or the exact same services often times are weakly differentiated when it comes to what they offer. They may state that their service is superior over their competition. What does this really mean? Having that as the separation between you and your competition will only make it harder to win the contract.
Companies that are recognized for their innovation, creativity, and passion are ones that have a sense of mission. It is not enough to just have a mission statement where you state your goal of the business. These days, you have to win people’s trust on a global scale. How do you do that? Find something that you and your company want to fight for. Whether it is to improve the environment, help the orangutans, or end starvation, your company must be driven through that sense of mission. By doing this, you set the company apart from the competition immediately. It is also clear why you are in business- and it is not just for the money.
A great example of this is Tesla Motors. They are a new auto-maker started in Silicon Valley. The company’s mission is to make exotic, super cars that have zero impact on the environment. They are out to prove that electric cars can be just as powerful, if not more powerful than their gasoline cousins. Through this sense of mission, people who want an alternative to gasoline vehicles and believe in helping the environment and understand the company’s stance on environmental issues. This creates a connection between the company and customer. As the company further markets their stance on the environment and how their products help it, people will start to believe more in the company and be more willing to purchase their products.