The other day I was watching TV and saw a Midas commercial with the famous tagline, “That’s the Midas Touch!” Midas has built a brand based on the idea that their car maintenance service is more exacting, more precise, more careful and more customer-oriented – the “Midas Touch.”
The idea of the “Midas touch” originates in Greek mythology with the original story of King Midas, who had the ability to turn everything he touched into gold. In the same way, if you can provide “the Midas touch” in your business, your customers will repay you with the “gold” of repeat business, referrals and positive word of mouth.
CorpNet recently had a “Midas touch” moment of our own when we got secret shopped by the NextAdvisor site. Our top notch customer service and sharp focus on delivering solutions for a specific niche of the market got a lot of praise, and this experience gave me some ideas for how other entrepreneurs can provide “the Midas touch” in their businesses.
- Know what you do best: CorpNet is a highly focused business – we help entrepreneurs start a business, incorporate a company and manage their business filings. We don’t try to be all things to all people; instead, we deliver a very specific service for a certain type of customer that prefers a higher degree of service. In the same way, your business can often thrive by trying to do less. Instead of having too many items on the menu, focus on the products or services that your business delivers better than anyone else. Instead of being unremarkable at a lot of different offerings, hone down your list of products or services until you’re only selling the things that really have a “wow” factor.
- Keep your promises: Most business transactions are based on something simple, old and enduring – trust. If you can build trust with your customers by keeping your promises, by “underpromising and overdelivering,” they will want to keep buying from you. People trust CorpNet to manage their business filings on time, with efficiency and accuracy. People trust Midas to take care of their cars in a smart and effective manner. What are people entrusting to you and your business? How can you reassure people that your company can deliver what they need?
- Build customer relationships: CorpNet is an online incorporation service, competing with “800 pound gorilla” companies that have bigger budgets and bigger staffs than we have – so why do customers keep coming back to us year after year? Because we’re small enough and focused enough that we can provide really helpful, valuable, personable service that the bigger companies cannot. It’s our customer relationships that keep people coming back to us. In the same way, if your business makes your customers feel like family, like they belong to part of something larger than themselves, then they will keep buying from you again and again. As we wrote on our blog article about “lessons from a bankrupt bakery,” it’s often the personal touch that keeps customers coming back – and if your business loses that sense of personal relationships with your customers, you might find that people no longer have a compelling reason to keep giving you their money.
Ready to start a business and create a “Midas touch” all your own? Talk to CorpNet for a free business consultation on how to incorporate a business. CorpNet’s free tools, advice and guidance can help you choose a business structure, form an LLC, set up an S-Corporation or other corporate entity to protect your assets and attain the corporate tax benefits and financial advantages of doing business as a corporation.