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Startup‬ ‪Business‬ ‪‎Tip‬ - KNOW YOUR CUSTOMER

As a startup business, it is safe to say that you probably have few resources and very little time. That is why it is extremely imperative that you know exactly WHO your potential customer is, WHERE they are located, and WHEN they are there. You do not have the money to blanket the entire internet with your product/service. BUT, you do have the resources to figure out what keywords they might type into Google, tailor a Google Ad-words campaign aimed directly at that phrase and pull in leads.

You do not have time and money to blanket your entire community with flyers and mailers hoping to attract .0007% of the market. But you do have the time and money to team up with potential businesses where your customer will shop and offer a service that your customer will see it, need it, and buy it.

You do not have time/money to go to every event, sit at a booth, promote your product/service and hope they buy something from you. But, you do have time and money to go to specific events that your customer will frequent (If you are selling something animal related, go to pet events only/ if you sell something fitness related, go to events that have to do with health and fitness only, if you sell something regarding home remodeling, go to events and shows that are built specifically to attract people for home remodeling.)

You will need to always keep your eye on 2 particular metrics:

How much does it cost you to get a lead? AND How much does it cost you to get a sale?

Once you know these metrics, you can begin to fine tune where and how you spend your resources.

The first step is to know your customer as much as you can. Describe them in detail. Put yourself in their shoes. What do they want? Why do they want it? How much are they will to spend?

If you know your customer, you will know your business. Be smart, don't waste your valuable resources on people that are not your customer. Be efficient and position your business so your customers find you.

To get what you want in life, you must first know what you are looking for.


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