The quality of your product or service is what will keep clients returning to you again and again as well as recommending your business to others. An easy online search will reveal the quality of a product as it has been described in reviews, and with this easy access to information, customer’s expectations are getting higher and higher. So, in order to keep your business going, you need to invest serious time in quality and uphold and increase that quality in order to develop a sound reputation.
I went to a supermarket the other day and tried to get a bottle of peppers. I found two bottles. The one was an unknown brand priced at US$0.99 and the other was a well-known branded bottle priced at US$8.00. They were almost the same size, and both contained peppers, so wouldn’t it make sense to pick the cheaper bottle? However, the difference lies in the fact that the one bottle and its contents were manufactured in a Chinese factory, whereas the other came from Italy. Knowing this, I chose the bottle with the higher price tag for two reasons: China has been put in the spotlight for poor health regulations in food factories; and the Italian peppers were certified organic, giving me extra incentive in terms of making a healthier choice. I was willing to pay for better quality and because the manufacturer knows that their quality is better, they charge it at a premium. They have an established reputation and that serves as good leverage as well. This is why companies like to feature the year of their establishment with their branding, showing off their long histories. This shows a track record of delivery which is a very valuable asset to both of your personal branding as well as for the company.
If you are in the luxury goods market, it is all about quality too. When buying a luxury item, you do not want to find out that the manufacturer tried to cut costs on materials and labor – you want them to invest in the best, as you are doing by buying their product. This is why people buy Bentleys, Ferraris, and Aston Martins – they expect the high price tag to come with a high-quality standard as established by the relevant brand’s reputation. An example of this has been the ongoing dispute between Apple and Android. For years Android developers have criticized Apple for limiting software development to the company. Apple responded by saying that their software is tailor-made to work directly with Apple iPhones and it is programmed to do this their best as possible. Sharing the software may compromise on the quality of the new upgrades. Whether you are an Apple fan or not, their products are unarguably some of (if not all) the best in the technology market, and the greatest contributing factor to this is a refusal to compromise on quality.
In terms of quality, there is also another aspect to look at and that is quality of life. This is measured by the quality of your interactions with your family and friends. One of the main reasons that I chose to start my own business was because I could work from home and as a result stay close to my child and family. Having the freedom to do this has changed my life and made it easier for me to make time for spending with my loved ones. It does take a lot of discipline to stay focused when you have so many distractions, but keeping to your obligations pays off in leaps and bounds. We are a lucky generation that can do this! All you need to run your own business is a laptop and an internet connection, making it simpler than ever to improve your quality of life and reducing dead time spent in traffic and getting to and from work.
What is the one product/service from your company that you are most proud of? How do you ensure it’s a good quality that can meet your clients’ needs? Do you able to charge it at a premium, if not, why not?
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