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Getting customers is what entrepreneurs say they struggle with most.

When we talk about entrepreneurship success, we still talk about very low success rates (The last formal numbers are still between 5%-10%. Of course, it depends on how success is defined).

The first reason (42%) entrepreneurs say what they fail for is \\u201cNo market need\\u201d. There are usually two reasons for not finding the market need:

Either you didn\\u2019t focus on the right customers, Or your product definition wasn\\u2019t correct.

The What

A product or service definition contains 3-5 words; 

your answer to the question, \\u201cWhat do you offer?\\u201d Based on the answer to the question \\u201cWhat problem do you solve\\u201d

Why is defining your product or service critical?

• \\u2318 That\\u2019s how customers will find you
• \\u2318 It differentiates you from your competitors
• \\u2318 It attracts clients
• \\u2318 It\\u2019s the basis for leading your market category

The one rule of defining your product: In defining your product, you should focus on your customers\\u2019 point of view:

You need to learn what your customers are looking for; How customers, people who are seeking solutions, and providers talk about the problem and solutions within your space

We look for what they need or want: What words do they use to look for the solution?

Remember, it\\u2019s always about them! The customer always looks to find \\u2018WIIFM\\u2019 - What\\u2019s In It For Me?!

There is one story I like most as an example for the \\u201cwhat\\u201d part, finding what solution and product (or service) you should provide.

The story of Mike Allton who provided one product and found out his customers want something else\\u2026

Mike Allton - The award-winning social media blogger and author turned his successful website business into a social media blog and guidance source. Mike Allton is a Content Marketing Practitioner, award-winning Blogger and Author in St. Louis, and the Chief Marketing Officer at SiteSell. He has been working with websites and the Internet since the early \\u201990\\u2019s, and is active on all of the major social networks.

Mike teaches a holistic approach to content marketing that leverages blog content, social media and SEO to drive traffic, generate leads, and convert those leads into sales.

Mike\\u2019s story

• I started the Social Media Hat back in 2012. At that time, I had been building websites, and as part of that website business, I was blogging about social media marketing in order to give my prospects and customers helpful information. It didn\\u2019t attract people who needed websites, it attracted people that already had website and wanted to learn about their social media opportunity.
• So, as a result, I wasn\\u2019t growing my online business, but I discovered that I like to write and I like to teach people how to use social media blogging.
• I realized that the content doesn\\u2019t help to sell websites, however I decided to create a site about social media blogging and that what I did.
• I\\u2019ve used my site as a testing ground for anything related to online marketing. I execute the test and write about it and I found out my audience really appreciates those kinds of insights.
• And in the meantime, I was experiencing making money through the website and I tested that as well. Affiliate relationships, Google AdWords, Display ads, and many other monetization techniques. The most successful way to make money is to have a product that can you sell a lot of, so it can scale.

What is your one key success factor?

• One thing that comes to mind: to have specific online relationships with people that can help you and show you the way to achieve your goals.

The Who

Most entrepreneurs have a very clear...'