Clarify Your Vision:
Clarifying your vision is crucial for the success of your business. Business is about solving people’s problems and enhancing lives so whose lives are you trying to improve or impact on?
Every business serves different types of attracting customers, and these segments require different value propositions (your products and services), different channels of delivery and a variety of customer relationships to fulfil the promise of your business. These will greatly vary in profitability, so you have to make sure that you are firstly aware of those differences, and secondly design your business to cater for the profitable segments properly.
In order to solve the problems faced by your potential customers, you will have to “get under their skin” to know:
- Who they are
- Their internal challenges and issues
- Their external pressure
- How they feel
- What triggers their fascination
- What drives their buying decisions
Can you find an enjoyable and authentic way to solve people’s problems and make a positive change in their lives, whether economic, educational, healthcare or spiritual, and bring about a radical transformation in their lives? Can you cultivate love, relationships and communication? Can you heal people? Can you empower people? Can you raise people’s consciousness? Find ways of getting needs met that are sustainable as well as socially and economically acceptable.
So What Is Your Value Proposition:
How would you help your potential customers? Your value proposition is your range of products and services that solve people’s problems or satisfies their needs, and to be successful in any marketplace and have any chance of your business being a long term asset, you must offer a unique value proposition to your prospects.
By creating products and services that serve a combination of value propositions will quickly create uniqueness and will allow your business escape competition where you will only be compared on prices.
What would your key activities be:
These are the actual tasks and actions required to create and deliver the promise to your customers. A key question you should ask yourself is “what do I actually do to achieve the transformation for my customers”?
What would Your Framework Be:
Your framework is your unique way of achieving results for your customers. It is your multi-part strategy that will lead your customers from point A to point B. We live in an age where everybody is looking for transformation, and your framework should describe how your products and services help people achieve such transformation whether spiritually, emotionally, physically, monetary or mentally.
Questions You Should Ask Before Determining Your Target Customer:
The better you understand your customer the faster your business will grow, but new start-ups often struggle to define their target market and set their sights too broadly.
They often overestimate the market size and in many instances there may not be a market at all. Here are some questions that might help you determine whether you have a target market, and what it is.
“Who would pay for my products and services”? Try and understand the problems your products and services can solve, then use that information to help you determine who would be willing to pay for a solution. Not only do your potential customers need to have a problem, they also need to be aware they have the problem. Search on Google to find out how many people are searching for words related to your business idea.
Honesty And Trustworthiness:
People like to do business with those they trust and like. If you are not trustworthy, you will develop very little repeat business, meaning you will always be chasing for new clients and customers. Word about you will very quickly spread, which could spell the death knell of your business.
You can find out about successful business start ups and business growth in our two e-books on Amazon.co.uk:
“The 90 Day Small Business Optimiser”
“Quantum Start Up”
Best of luck with your business.