Last week we talked about writing a business plan and how important it is to your business, but this time let’s look at what we need to do to make that business a reality.
First, you need customers not the market; you need customers because it is from what they but that you will get sales to run your business. To achieve this you have to make sure that customers are directly controlling your business- selling what customers need not what you think the customers need or the market needs in that instance.
So how do you make this happen?
Start by calculating how many potential customers you have, how often they buy from your business, this gives you the right reasons why they buy from you and be relieved of that burden of smiling all the time to entice customers to buy. In doing this, you will be able to give customers the bets they need thus increasing your sales.
What normally drives customers to buying a particular product or service depending on their tastes and preferences is either quality or price. If in your business plan you had thought of providing quality products but high, and you find it is not what the market needs then, its high time you threw that pride and make products that fit their price range.
If in the other case, your customers need good quality and expensive products then don’t stick to making low quality products because you see there is market or no competition, you insist on your plan. You may succeed in reaping money from those customers but remember they determine where your sales will be in the next say five years.
But then don’t ignore either the price driven or the quality driven customers, you all need them, so strike balance of both the price driven and quality driven products.
And in many instances, businesses concentrate on marketing, branding and corporate image, but those are not actually what the customer needs, most customers don’t consume your brand just because you have put that smart looking CEO or you are dressed in a tie.
I agree people may comment on that but is it what really customers are going to consume at the end of the day?
Let’s look at this- Most pork joints in town are in down town, suburbs in low profiled places or even in make shift shops but people have to follow them up there, why? The answer is simple- that business engages its customers you are served according to how you want not how the market demands or business owner thinks to run the business.
So engaging your customers building your business to what they need not what you feel you want to serve them with would increase your sales, and remember you do this basing on your business plan, let the customer be a king but be served with what is right for a king.