In many cases, a major difference between successful businesses and unsuccessful businesses is the motive for starting the business. When a business is started with the right motives, the difference is always there compared to when it is started for the wrong reasons. Even though making money is always one of the reasons why people start businesses, it shouldn’t be the major reason.
When making money is the major reason, a person would want to look for how to make the most money out of their business within the shortest possible time. The implication is that they might decide to compromise and reduce quality. Reducing quality will help them reduce the cost of production and they would be able to get more profit on each product. With time, the few customers they would have gathered would leave and they would be forced to close down. In other cases, the money might not start coming as soon as they expect. This is considering it takes years for some businesses to get even and start making a profit. They might end up closing the business in the long run.
However, when the major motive is to solve a problem before the money starts coming, they will be content with the fact that they are solving problems. With this, they would continue to maintain their quality and pursue their objective of solving problems till the business breaks even and the monetary benefits starts to come in. Here are some of the ways good products will lead to the success of your business.
Good products attract customers
The first thing people notice about your products is the way it is packaged. They would also be influenced by what they have heard about your products. Hence, when you have great adverts to promote your products and you have great packaging for your products, they will be attracted to the product. Some people go to the store to buy a particular product, only to see another product that the packaging attracts their attention. They could pause and read the ingredients on the product and what it does, if it is similar to the product they intended to buy, they would want to try it out to see if the results will be like the packaging. It is worthy of note that a new customer is not always a new single customer. A new satisfied customer could bring as much as 10 people who would further bring an average of 5 to 10 people each within a year or 2. Hence, a new satisfied customer will have a great multiplier effect on your business. This will significantly enhance how quickly your business will achieve success.
Good products retain customers
With good products, anybody that buy your products is likely to remain. Even when they are tempted to get other products like the example of those that intended to get a product then get attracted to another, when your products are of better quality, they would come back to your product. Your aim in creating your products should be that it should have the best quality for its price that even if the customer is provided with another alternative at a slightly cheaper price, your quality will have them running back to your product. With this, you will be able to retain your customers.
Good products attract good reviews
When your products are good, you will get many positive reviews from those that have used your products. This will also contribute to attracting new customers. People who have never used your products before are likely to first read reviews about your company and products before patronizing you. If they check and are convinced with the positive reviews about your good products, then you would have earned yourself a new customer. If you are wondering how a good review can change a company’s future, then you should relax and imagine if you would ever patronize a store you have heard from many people have a bad reputation, poor products or rude customer service department. Good reviews can easily make a company more successful. Bad reviews are even worst as the few people that will want to patronize you will change their mind after reading reviews about your business.