Update Your Elevator Speech

As we say in Making Money Is Not Illegal, Immoral or Fattening, retailer profitability comes from being distinctive. Keep in mind that what makes your store distinctive may need to change and expand as the marketplace changes and as your potential target market expands. Regularly update a brief description for your customers, your staff, and yourself about what you are world-class at doing.
Here are some words about this from page 45 of the book:
"What specifically do you do in your business that’s going to boost your success and maximize the chances your business will still be operating three years from now? You’ve got to be absolutely world-class at something. Otherwise, some competitor will come in to rip market share away from you. Before you know it, your business is gone from the face of the earth.
"Think of it in terms of what’s called an elevator speech. Let’s say that as you’re waiting for an elevator, the person you’re standing with asks, 'Why should I shop at your store?' And then the elevator doors open, you and the other person get in, and you’ve got about thirty seconds, while the elevator is moving, to answer the question.
"What do you say? Keep it focused because you don’t have much time.
"Okay, now I’ll give you more time than thirty seconds, but in exchange, I’ll make the question a little more complicated: What are the top ten reasons for somebody to shop at your store? See, you really need to have multiple differentiators. It will start with your staff being better, your customer service dazzling the customer, but don’t let your people be your only differentiator. The more competition that comes into your market area and the tougher the competition gets, the better it is to have multiple differentiators."