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Simple Success Solutions - Part 4: Differentiate Yourself – Southwest Airlines

Simple Success Solutions - Part 4: Differentiate Yourself – Southwest Airlines

What does it take to be successful? Gulf Coast Business Credit (GCBC)’s "Simple Success Solutions" is a series which examines entrepreneurial and startup success stories. This week’s tip is to differentiate yourself from the competition as Southwest Airlines did.

One of the biggest threats to your business is competition. Southwest Airlines was not always one of America’s top domestic airlines. In fact, this Texas based company began in 1971 with only 3 aircrafts serving Houston, Dallas, and San Antonio. Presently, Southwest Airlines serves a combined 93 destinations in 40 states, the District of Columbia, Puerto Rico, and five international countries.

What happened between 1971 and present day to cause this growth? Through a series of strategic moves, the key to their success was differentiating themselves from their competitors. The following are a few key differentiators that contributed to their success:

  • Low Cost - Southwest Airlines has one of the lowest fares available and does not charge for the 1st or 2nd checked luggage weighing up to 50 pounds each. One reason they are able to do this is because they chose to operate one single plane type which creates lower maintenance and operations costs. 
  • Customer Service - Based on the Department of Transportation (DOT), Southwest Airlines has received the lowest ratio of complaints per passengers boarded of all major U.S. airline carriers since 1987.  Southwest Airlines employees have a “fun-LUVing” attitude that customers look forward to.  In 2014, they were recognized as one the best places to work by Glassdoor.
  • Innovators - Southwest Airlines was the first airline to launch a homepage on the internet. They also created the first online tool to help customers find the lowest fare available across an entire month.

Southwest Airlines has been named FORTUNE Magazine’s World’s Most Admired Companies for 20 consecutive years. To retain this ranking, Southwest Airlines consistently creates new ways to differentiate themselves.

Overall, remember to always differentiate yourself from your competitors as Southwest Airlines does. If you do this, success will hopefully come your way. 

If you are a startup or a company experiencing rapid growth, please contact GCBC today to learn more about financing options to increase your cash flow using your commercial accounts receivable as collateral. Since GCBC is a division of Gulf Coast Bank & Trust Company, we are able to offer lower rates as a direct lender. To learn more about GCBC, please call 866-577-8867 or email us at gcbcinfo@gulfbank.com.

Please like GCBC on Facebook by clicking the following link and we will keep you up to date on current events: Gulf Coast Business Credit Facebook Page. Please connect with GCBC on LinkedIn by clicking the following link: Gulf Coast Business Credit LinkedIn Page.

Facts in this article were supplied from http://swamedia.com/channels/Corporate-Fact-Sheet/pages/corporate-fact-sheet#distinctions.

Article Posted On: November 11, 2014

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