Stick to Your Values, Your Mission, Your Niche

I am in Portland, Oregon at the University of Portland giving talks with my co-author Mike Naughton on our new book, Bringing Your Business to Life.

We are here as part of the Bauccio Lecture in Entrepreneurship series.  The donors behind this series are Fedele and Linda Bauccio.  Fedele Bauccio is the founder of Bon Appétit Management Company, which is an onsite restaurant company that provides café and catering services to corporations, colleges and universities, and specialty venues. They have over 400 locations in 28 states.

At dinner last night Mr. Bauccio talked about the key to his company's success.  He competes with some of the industry giants by a simple, but powerful recipe.  He stressed that he has grown by finding customers in his niche who share his values and believe in his mission: "Bon Appétit Management Company... food services for a sustainable future."

.From their website:

Breaking bread together helps to create a sense of community and comfort. We recognize the important role we fill and take great care to honor our position on a corporate or school campus.

Entrepreneurs can get tempted to take on business for the sake of getting more business.  But Mr. Bauccio warns that this does not help the business build its brand.  Your brand is much more than simple name recognition.  A good brand encompasses your values, your mission and your reputation.  It clearly communicates who you are and what your niche is.

Word of mouth never just happens.  By staking a strong claim on your piece of the market you can develop relationships with customers who understand what you stand for, and who are eager to tell others.