Are You Building Your Business Backwards? 3 Easy Steps To Fix It
The more I study marketing and business development, I have found something quite interesting, that I would like to share with you today.
Believe it or not, most small business owners I see in Belize are building their businesses backward.
Here is what I see:
A business owner sits down with his family and comes up with a service they want to offer.
They then go looking for clients for the type of service they are offering.
This is insane!
It simply does not work.
You may ask "why?" Because it is putting the cart before the horse (literally).
Here is what I see most successful business owners do.
They focus on figuring out what kind of clients they want to work with. Example: lots of people mock Apple and how they develop their products, how they market it, and how people are die-hard loyal fans. Apple knows exactly what type of customers they want, and they cater to those customers. If you don't like their product, more than likely its because you are not the type of client they are targeting.
Once these types of business owners figure out what type of clients they want to work with, then, and only then, they decide what type of services to offer. As I pointed out about Apple, in this case, its a product, their product is based on the things, which their ideal client persona will value and desire.
Once you figure out the type of clients you want to work with, and then the type of product that will appeal to them, then marketing your product to those specific types of clients, becomes significantly more clear, and you won't waste lots of time and tons of money trying to target clients that simply are not interested in your service (or product).
It is better having 10 clients paying you a premium price for your premium service (or product) instead of having 100s of clients paying you bargain prices, for a mediocre service (product).
If you are having a hard time attracting the right kinds of clients, consider analyzing your strategy.
Focus, focus, focus on the kinds of clients you want to work with.
Then, build your service (product) to cater to them. Once you delight them, they will spread the word, and the new clients coming in will have no problem paying you a premium price for your premium service (product).
I can assure you, it is way more effective than trying to sell people a service that:
Try to cater to everyone, and thus the client feels like it simply wasn't specifically built for their needs.
Simply too generic and not quite what the client is looking for.