Constructing a business model for success
2020 brought challenges for many businesses, in particular the various lockdowns which no one could have predicted. In this article Bruce Casalis, explores how a strong business model can keep a company afloat, and even foster growth, during difficult climates.
Live and breathe your brand
I merit a lot of my business success down the fact that I live and breathe my brand as a lifetime dog owner and lover. As a business owner you need to genuinely be passionate about what your business stands for – whether that be a service or a product.
To be noticed and stand out from the crowd, businesses need to develop an emotive and distinctive brand that consumers can relate to and which sparks emotion. For example, Bruce’s is built on a series of pillars, feeding into the Bruce’s Difference which were carefully chosen to appeal to the modern pet parent who is keen to invest in their dog’s wellbeing and health.
In addition, as the world evolves, as it has done through the Covid-19 outbreak, you must continue to pioneer and sculpt your business model to react to customer needs. This requires learning throughout your business journey to gain experience and refine the model. For example, Bruce’s Doggy Day Care started as a local dog walking service before growing into the business it is today and that was due to listening to the demand in the area and adapting to the customers’ needs.
It might be that a re-brand is necessary to tap into consumer needs because having clear brand messaging is what will help your product or service to be remembered, and chosen, over that of a competitor.
Investment
Often success and taking a business to the next level lies with financial capabilities, which is why investment can help to fast-track growth and is crucial for business expansion into new locations and markets.
For example, seeking investment from consumer specialists Piper, was imperative to building the Bruce’s brand and helped us to open five brand new sites in 12 months. Investment also allowed us to manage waiting lists and demand for services, which is ever-growing with a 40% increase in the UK dog population, bringing the number of homes with a dog in this country to 1 in 3.
Flexibility and future proofing
Covid-19 forced Bruce’s to rapidly flex and adapt to continue to operate and serve our customers. For example, we were able to quickly innovate and introduce virtual tours for new customers during the height of the pandemic alleviating the need for them to visit the centre so that they were still able to enrol their dogs with our service and we could continue to grow our business. This required a growth mindset and a similarly agile management team with the level of flexibility to react to crises and customers’ changing needs.
Customer-centric
Customers and clients are at the heart of a consumer business, making a customer-centric approach imperative to delivering the best experience for their them. This means that reviews and customer feedback are of upmost importance. Positive reviews can be turned into case studies, which in turn help to drive engagement with press, resulting in increased awareness of your product or service amongst your target audience.
One way to improve customer experience is to tailor your service to be personal to them, to help them feel special. Although this will likely take more time then providing a standard or generic service, it will pay off in the long run. For example, 90% of our pre-lockdown customers have returned, along with a surge in new customers due to the lockdown puppy boom and people returning to work.
Look after your team
Whilst customers are the cornerstone of any business, your employees are the ones who keep the plates spinning and nothing would be possible without them. Therefore, engaging with your team and retaining experienced staff is key to building the best team who want to see your business succeed. This involves creating a clear culture and regularly engaging with employees, so they are up to date and feel involved. Employees who have been present from the start and experienced career growth within the business will naturally be more passionate about it and understand what it stands for. At Bruce’s we’re fortunate to have retained several of the original team members who are now huge advocates for the brand and what we stand for, plus a huge hit with the customers!
In conclusion, Covid-19 has made it apparent that a balance of flexibility and agile management is essential to long-term business success. Furthermore, the importance of a personalised service is more important than ever and should be central to the running of your business. And finally, actively supporting your employees will help to build a team that is passionate about the work and representative of your brand message, all of which is excellent for brand reputation.