Wednesday, May 6, 2015

Don't let your competition run your business


Drew Edwards,
General Manager,
Sunset Funeral Home

I have a bronze plaque in my office that was given to me almost 20 years ago by my friend and boss, Rich Darby. It reads, "There is hardly anything in this world that some man cannot make a little worse and sell a little cheaper, and the people who consider price only are this man’s lawful prey.”

I believe it is as true today as it was two decades ago.

At Sunset Funeral Home, we are decided to invest in some remodeling that we are confident will result in a better experience for the families we serve. Our list includes everything from fresh paint to re-striping our parking lot. Some changes are small and others are more extensive, but they all are chosen with families in mind.

These improvements are taking place at a time that our competition is running advertisements talking about being “cheaper” than us. History has proven that the consumer that enters any arena as the “cheapest” usually will have the shortest lifespan in the marketplace, regardless of the industry. My advice is simple: don’t let your competition run your business.

Whether you own a funeral home, a vault company or even a crematory, you need to ask yourself what you stand for and what you represent. In order to be the best at what you do, you have to believe in your product, your people and your pricing. Set your pricing on products and services at a margin that is competitive, but with the flexibility that allows you to be the best at what you do.

After all, who do you want to be in your market in 20 years? You or your competition?
 
This article originally appeared in Trigard Tuesdays, our weekly electronic newsletter featuring information for the funeral industry. Sign up for your free subscription at http://www.trigard.com/tuesdays.

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