any people new to business often make the classic mistake of creating a product or service out of their personal passion (or talent) then try to sell their product or service into the marketplace without fully understanding the intended customers needs and desires.
In other words – they make ‘guesstimate’ assumptions and then jump into business. Their belief being (more often than not) ‘I like it so you will like it as well’. This then leaves them confused when the business they are running is just not working at all after repeated different attempts to get it to fly (or there simply isn’t enough business coming through the door to support their dream).
The danger then is to fall into the trap of working harder and harder (longer and longer hours) whilst also finding fault with everything that doesn’t work. This ultimately leads to a serious work / life imbalance, and ultimately stress and illness.
So what’s a solution?
Focus your thoughts on becoming a hyper-critical thinker. Allow time out every day to ask yourself what you are doing, how you are doing it, who you are doing it for and also (probably most importantly), why they will care.
Many people think of the ‘How’ before they think ‘Who’, ‘Why’, ‘Where’ and ‘What’…
If you are not seeing consistent growth within your business, then take a look at the level of attention you are paying to one (or all) of the following:
- Gaining increased sales from your existing clients and database
- Maximising the profitability from your existing sales (upselling)
- Getting new clients through the door
- Understanding precisely who your customers are is critical to building any business.
Try asking yourself the following questions…
If you don’t know the answers yet, make a commitment with yourself to find the resources to get them – maybe via a library, through other business owners (even researching what your competition does well – you may be surprised what you’ll learn), or just employ the services of a specialist to help you accelerate your business growth.
Who are my clients? What’s their age? Where do they shop?
Learn as much as you can about them
- Why do they need my product / service?
- How will they know when they need it?
- How will they find out where to obtain it?
- What experience will they have when they discover it?
- What will the experience be like when they purchase?