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How do you know if you’re selling the right thing? Define your customer first

By September 13, 2021 Business Tips
how do you know if you're selling the right thing?

How do you know if you’re selling the right thing? Define your customer first

So many of us go into business to do something we’re good at. We look at our 9-5 and wonder why we’re stuck there slaving away to make someone else rich when we could be doing something we love and actually helping people. We know our life could be better; we know we could help more people, so we take the leap and we start our own business. The problem is 45% of businesses fail within their first 5 years. Nearly half of the businesses that set out to make the world a better place and give their owners a better life crash and burn and the business owner is left feeling burnt out and disillusioned at the end of the crash.

We are starting from the wrong place. 

Business work when they are solving a problem for people. We make profit when we solve problems. People don’t want your product or service just because you do it well. People only spend money when you solve their problems.

So how do you know what to sell? Solve a problem. 

How do you know what problem to solve? Define your customer. 

You will be successful when you corner a market, not a market full of products, a market full of very specific people whose problem you solve. 

In order to effectively serve your customer, you have to know them. The best way to do this is to choose your self or your close friends or family as your target customer. What problems do you have that need solving. How can you solve that problem and then market it to other people like you? What do you do, where do you spend time online, what are your pain points? What do you need?

How do you know if you’re selling the right thing? These are the types of questions you need to be asking. Build your business around people and that is where you will find your success.