I’m working on narrowing my niche to provide value through an offer. I can do supply chain consulting, but am having trouble getting clients for my first proposals. Through your videos I have realized it’s not them, but rather my value proposition is not there. Which is challenging on an hourly proposal or lump sum proposal. Installing procurement systems is a large number of hours, and I’m still learning how to communicate the benefits of better Purchase Order Management.
Instead, I have a solution to help small businesses improve their purchasing process to make it more efficient and effective. Here is what I wrote on my worksheet:
1. Yes. Wealth. We help put the profit back in the pocket of small business owners through improving effectiveness and efficiency of their purchasing process.
2. Submarket – Small businesses with more than 20 employees that want to improve their business efficiency. (I haven’t chosen an industry niche yet.) I’m leaning towards tourism activity providers right now, as that is the business area that I have the most experience in. I am currently in the process of joining facebook groups to start discussions around what is working/not working in their supply chains.
3. Google terms: purchasing process not working, help with procurement in small business, supplier shipping wrong items.
4. I help facilitate communication and improvements in your business around your purchasing, receiving and invoicing process.
Your outcome looks like this: your team is on the same page around your supply chain; you have created strategies and implemented actions to improve your purchasing process resulting in reduced errors and increased profits; your staff have stepped up and shown leadership and you have a clear action plan in process to strengthen your supplier relationships.
Question 1. Do I need to choose an industry niche? I’m most familiar and comfortable with tourism operations (I’m from BC Canada and there are lots of tourism activity providers here). Would this be a good niche? Can you suggest other niches to consider? Construction/contractors or other options?
Question 2. Can you suggest other google terms? What would you search for if you wanted to make the “planning, quoting, deciding, purchasing, receiving and paying” process more efficient? Or if you wanted to fix a broken purchasing process? This process is commonly referred to in the industry as the P2P (procure to pay) process. But I’m having a challenge translating this into regular small business owner language.
Question 3. Does this sound like a compelling solution to their problem? Part of their problem is that they DON’T KNOW just how much profit could be leaking out through an inefficient purchasing process. And the best part is that money saved here is kept as complete profit, not just a portion of profit derived through increased sales. When we do the math it’s very interesting to see how valuable this process is.
Thank you for reading through to the end. I really appreciate your insights Brooke and team. You guys are the best!!!
PS. Your phrase about never “I don’t know” on myself hit home. Just this one insight about how this thought has been stopping me in my tracks is amazing. Been practicing changing it and it’s just blowing my mind!