Thursday, 28 April 2016

Customers The King Of Business.


In today's #SmallBizTalk, lets talk about the king of business. Venturing into a business is good and anybody can do that, but if you fail to negotiate with the decision makers ( customers ) them you are not ready. If you have true customers who are willing to buy your products and services then you are really in business. I do tell my clients on small business consulting that before you launch what ideas you have into the market,you need to first identify those that needs your services or products, what value will you add to their lives that will get them attracted to you and approve your business. Customers as the king of business are the ones to determine your stay in business, so find them and offer them the best and in-return you get extra-value (Money).

In business, customers research takes long time and patience to find enough who are willing to talk. Market research consultancies would charge you high fees to the job for you, but as a new starterup with a clear vision of where you want your business to be with concrete plan, you would be better off doing it yourself, just spend more time and do some market research by yourself, ask questions, visit places, go the the environment and find out what your target audience want and are saying about similar businesses.

Some questions you need to ask yourself are:

* Who are my customers? Do they have that characteristics to fit into the type of customers that your product or services will benefit?

* What are their buying style? What, how much, and how often do they buy?

* Why do they buy? Are the reasons customers say they buy with same reasons why you say they? E.g some customers just buy label names and not prestige. Fined out why?

* How much do they pay based on what the market is offering? Okay, how much will they be willing to pay for my products and services?

* What do they like or dislike about the current products and services? Can i be able to fill this gap and provide them with what they like?

Now, if you can judiciously give answers to these questions, you will be dinning with the kings of the market all the time without problem. Customers will be willing to stay online for numbers of hours just because you offer them the best. If no value is derived from from your products and services, your business will not go far. Your customers are the king of your business, so treat them well and give them good values if you you want extra-value. In business, if you develop an idea the next thing to do is to find out those that needs it.

Dream Big & Achieve It