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You cannot predict who your customer will be.
This post probably has more value to starting entrepreneurs than seasoned one’s. Being, that people who are already selling their product/service’s instinctively know this. But all in all I think it’s a good reminder for anyone.
I have had dozens of insights on why my old business idea’s failed in the past 6 months, when my current business started to gain some traction. This is in my opinion the most important one yet. MJ talks about it in his book, the forum is filled with real life successes and failures of it. But do you as a starting entrepreneur truly understand it?
The market decides whether you create value or not.
My current plumbing business has exposed me to hundreds of homes and different people. Showing me what kind of products they buy, what they (probably) value, and whether they live frugal or pretty lavish.
And let me tell you, there is no possible way on this planet for you to predict who will buy your product and who won’t. Everyone has their own spending habits, debts, maybe even problems. These all decide whether and most importantly when they will buy your product. It’s possible that 10 people have already decided to buy your product, it might just take a month. (This is where you remind them through marketing)
The hardest thing for me to understand as a starting entrepreneur was “why” would people buy my product? I always filled these gaps with:
Well, it’s organic or the price is good. Fill this with whatever fits your product. None of this actually matters.
At the end of the day what truly matters is, are you solving a problem or not? Are you giving your customer what they’re looking for or are you selling them some marketing trick?
The first might give you a hard start, but once your audience finds you, hold on tight because it’s going to go fast.
This post probably has more value to starting entrepreneurs than seasoned one’s. Being, that people who are already selling their product/service’s instinctively know this. But all in all I think it’s a good reminder for anyone.
I have had dozens of insights on why my old business idea’s failed in the past 6 months, when my current business started to gain some traction. This is in my opinion the most important one yet. MJ talks about it in his book, the forum is filled with real life successes and failures of it. But do you as a starting entrepreneur truly understand it?
The market decides whether you create value or not.
My current plumbing business has exposed me to hundreds of homes and different people. Showing me what kind of products they buy, what they (probably) value, and whether they live frugal or pretty lavish.
And let me tell you, there is no possible way on this planet for you to predict who will buy your product and who won’t. Everyone has their own spending habits, debts, maybe even problems. These all decide whether and most importantly when they will buy your product. It’s possible that 10 people have already decided to buy your product, it might just take a month. (This is where you remind them through marketing)
The hardest thing for me to understand as a starting entrepreneur was “why” would people buy my product? I always filled these gaps with:
Well, it’s organic or the price is good. Fill this with whatever fits your product. None of this actually matters.
At the end of the day what truly matters is, are you solving a problem or not? Are you giving your customer what they’re looking for or are you selling them some marketing trick?
The first might give you a hard start, but once your audience finds you, hold on tight because it’s going to go fast.
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