Small Business Minute #1 – Your Ideal Customer
Building a business is hard work and not for the faint of heart. It’s where Survival of the Fittest rules the day. In an effort to be one of the survivors, many small business owners make the strategic error of trying to make everyone their customer. In other words, trying to be everything to everyone.
Although the idea is forged on their belief that having everyone as their customer, will allow them to maximize their revenue when in fact it actually works against them. You see the more specialized you become, the more intimate knowledge you gain on your subject matter. This in turn, allows you to solve customer’s problems quicker and innovatively. Over time, you will be sought out for your expertize thereby allowing you to charge more for your product or service.
Becoming a specialist may take you a little longer to build your revenue stream but you’ll be far more profitable in the long run. Think about it for a minute, who gets paid more the heart surgeon or the general practitioner? The choice is yours?
Copyright © Greg Weatherdon 2014
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