This is the question – and often one which causes confusion and doubt with many start-ups.
Business owners agree largely that passion is a vital ingredient in making your business a success, but the trick is to steer clear of the latter as this would better describe a hobby and not a business… and therefore is less likely to be a success. And why is that? As a Business Mentor, I am often hearing business owners argue ‘I would buy a product like this’ or when asked about their ideal customer, they describe themselves. These are good indications that the business owner is doing what he or she loves, and this can in many cases take their focus away from selling to customers, which should be the main emphasis of their endeavour.
The hard truth is that if there is no demand, your business will not take off.
Starting and running a business is not only a vast learning curve with all technical details around business management but also an emotional rollercoaster and it is easy to see why people start with ‘what would I want’ but it is a false sense of security. You know what you can deliver – the question is what will the customer want? The best, and most constructive, method is to look at the competition, see what opinions are out there and then launch…making sure you measure your success and possible mishaps along the way.
The same method can be adopted when growing an existing business as it typically involves expanding your offering…once again going back to the question of whether you are fulfilling the needs of your customers.
A Business Mentor is not only for situations where an issue has occurred; they are also valuable in situations where it helps to have a different perspective. The support and guidance help your business grow and you will benefit from the insights.
I invite you for a complimentary mentoring session where we can discuss your business and prospects and together will outline a strategy for getting there.
Director & Business Mentor
Wokingham, Maidenhead, Windsor, Runnymede, Weybridge, Bracknell, Slough
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