A Problem to Solve - Another Key to Business Success
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By John Newland in Selling Published: Sunday, 08 July 07 - 03:36 PM (GMT) Last Updated: Sunday, 08 July 07 - 03:54 PM (GMT) |
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As I have posted many times, the only time that you will ever get a customer to trade their money for your product/service is if you can solve a problem they need solved, or satisfy a need that is currently unsatisfied. You cannot sell a product/service that does not meet this criteria. Nor can you build a business around something that does not meet this criteria.
Most entrepreneurs are experts in their own backyard (meaning industry, sub-sector, market niche, etc). In general terms, they build their business around a product or service that represents a new approach to a current problem. This generally requires some level of expertise (which will be explored in the next post), which is why most entrepreneurs stay in the area that they know.
If you want to start a business, then take a look around your cube, your stockyard, your retail customer's home, and keep your mind open to novel approaches to the needs of the customers (and vendors) of the business where you currently are.
If your business is struggling, define the needs/wants that you are supposed to satisfy, and the problems that you are supposed to be solving. Then, make sure that you are truly satisfying/solving those things. The world around us is ever-changing, and yesterday's solution may not be today's solution. The thought-leaders in marketing suggest that you should be introducing marginal improvements on an almost constant basis, and making major additions/changes to your offering every 2 years.
If you find that your solution is no longer appropriate, do not mourn its loss! As the world around is ever-changing, new needs and wants have to be satisfied, and new problems require new solutions. For you, this means new products/new services, and new customers.
Be the solution by Serving the Problem.
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