Today’s Business Essentials
Dr. Jordan Sudberg is the CEO and medical director of the Spine and Sports Rehabilitation Center in Islandia, New York.
As you can imagine, directing a busy Spine and Rehabilitation medical practice takes plenty of business savvy as well as medical expertise, so Dr. Jordan Sudberg has become, by default, an expert in today’s business essentials.
One of the first essentials is exhibited in Dr. Sudbergs medical practice. Dr. Sudberg concentrates his practice on eliminating the pain that his patients feel in their bodies.
He is therefore a specialist and doesn’t offer a ton of services outside of pain management.
Dr. Sudberg feels that in today’s business environment, customers demand specialization rather than general practice businesses. He suggests, therefore, if someone starts a plumbing shop for example, that they narrow their services to just one or two and do that service spectacularly, rather than compete with 20 or 30 other plumbing services that are already established as generalists.
Another thing to consider, says Dr. Sudberg, is offering services online whenever possible.
Shopping malls are closing nationwide, and the days of the brick-and-mortar shops are nearly dead.
If a business is able to concentrate on offering services online, not only are they able to compete everywhere, but their operating costs tend to be quite limited.
The next thing, and these are not necessarily in chronological order, is being able to define why a company is in business.
Customers resonate with a mission statement such as Amazon’s mission which is to focus on selection, price, and convenience.
In today’s business environment, if a company does not have an overall reason for being in existence, generally a company is dead on arrival.
Dr. Jordan Sudberg points out a prime example of having a real reason for being is Tieks, the shoe company that produces high-end ballet flats that fold up in a woman’s purse.
Women everywhere are forced to wear rather uncomfortable shoes at work to keep up appearances, but the minute they are off-duty they pull their foldable Tieks ballet slippers out of their handbag and put on their Tieks.
Tieks has managed to carve out a niche in the shoe market that was underserved, and they make a pretty penny in the process.
In general, today’s consumer is craving for businesses that have a definitive purpose that customers can relate to, and once they find it, they can be quite loyal.
Another important business essential is to have a great social media presence.
Social media accomplishes two things at once. One of them is, of course, for the general promotion of a business. Name recognition is essential for a business to thrive.
The other is to spread the message of the business. Once a business has selected a mission statement, in order to succeed, they need to broadcast that mission statement as widely as possible. And only social media can do that.
Finally, there is a perception of professionalism. A business needs to look as professional as possible online, on social media, and in their physical store if they have one.
Customers demand it, and without an overall look of professionalism, the business will often be dead before it even gets started.