If you ever bought a diamond for yourself or someone you love, you probably spent a fair amount of time researching the 4 Cs: Color, Clarity, Cut and Carat weight. These four attributes became the standard for assessing the value of a diamond nearly half a century ago when the Gemological Institute of America (GIA) introduced them.
What do fine gems have to do with your business?
Sparkly stones catch our attention the same way compelling businesses do. Buyers of consumer goods, professional services and even B2B products flock to shiny objects like new technologies, emerging brands and buzz-worthy customer experiences.
Think of your business like a ring in a jewelry store. If you’re one among many, how do you stand out from all the precious gemstones you’re competing against?
I translated the 4 Cs of diamonds into essentials of business success. Let’s look at them as a way to express the fundamental elements of a thriving business, then see how you can apply them in your own company:
For diamonds, color grades go from D to Z, ranging from prized, crystal clear specimens to stones with a variety of hues and cloudiness. In business, color equates to strategy, from the corporate vision and mission to the strategic direction that guides your everyday decisions.
Is your strategy “a diamond in the rough” that needs to be refined? Or do you have a crystal clear vision of where you need to go and how you’re going to get there? While the color of a diamond can’t be altered, thankfully strategy can be improved as you take away non-essential colors and focus on purity in passion and purpose.
Most people think of cut as the shape of the stone (round, cushion, princess), but it actually applies to how well the facets of a stone reflect light. With expert artistry, an average stone yields unexpected brilliance. For business, cut is your customer experience.
Do buyers see working with you as a luminous or lackluster experience? Creating a memorable and positive customer experience requires artistry at all levels of your organization, not just the front line or the boardroom. It is all about flawless execution. When buyers choose their favorite partners, does your company make the cut?
Flaws on diamonds can be superficial blemishes or internal inclusions. The more of either one, the worse the clarity of the stone. Clarity is like your company brand. A natural glow can shine from within, only to be obscured by scratches on the surface that reduce the value. In contrast, some companies present a polished brand, but don’t live up to the promise beneath the surface.
Brand clarity frames both the internal and external qualities that make your company shine. If you don’t want to be a “hidden gem,” build a brand that radiates with a strong value proposition and articulate messaging, attracting customers from the inside out, even when you’re surrounded by beautiful competitors.
Carat weight measures the size of a stone. A friend once told me his finance insisted, “there won’t be any fractions on my finger,” but bigger isn’t always better. For business and diamonds, size is only one measure of success.
Some massive firms are a mess from top to bottom, winning new business in spite of themselves. Often they have a perceived monopoly and buyers feel they have no choice. If there was only one diamond to buy, it might look pretty good, but most customers prefer quality over quantity. Quality, refinement and focus are hallmarks of small but exceptional businesses.
Start there and grow strategically if you want your business to be timeless.
Image by grcat via FreeImages.com
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