Small Business Propel: Getting Clear 1

If you are thinking about starting a business, or if you already have a business, it is of the essence to get clear about a number of things and over the next several articles that I will write about I will share my thoughts on key areas that deserve clarity.

I will start with one that becomes the basis for anything else that you are going to do, and please note that this topic should be revisited frequently even when your business is operational because you may find after a while that things changed or reality turned out to be different than you imagined.

Clarity #1:  Who is going to buy your product or service(s)?

·         Are you selling to consumers, other businesses, or both?

·         Do you expect that more men, more women, or a somewhat mixed genders will be your primary buyers?

·         What age range(s) do you expect to attract?

·         Will your buyers be the type that are attracted to luxurious purchases, average prices, deal hunters, or the cheapest option?

·         Will your buyers be tech savvy or tech adverse?

·         What competitor products or services do these buyers use right now?

·         Where and how do these buyers go about purchasing?

These questions may seem obvious to you but in my experience many small business owners have not taken the time to be clear and focused on the buyers.  Even if you did your homework and started with this clarity, it is time to re-evaluate if the client that you thought would be your buyer ended up being the most profitable and/or the happiest customer type for your business.

If the answer is “yes”, keep doing what you’re doing.  If the answer is “no”, time to go back to the drawing board.

Clarity in the area of buyers or target markets means that all of your efforts are speaking to your audience with a message that is appealing, effective, and targeted.

In the next segment: Small Business Propel:  Getting Clear 2, I will be talking about clarity on your product or service(s) offerings.

I invite you to add to this list, comment, and to pass it along. Also, if you found this “food for thought” useful join my blog to get the rest of the series.

 

By Maria Ryan McElehnny

The Lioness