Without answering these questions, your business is likely to fail. In this article, we discuss how Your Business Must Answer These 2 Questions To Succeed.
1. What distinct value can you deliver to the market?
To create a successful business, you have to deliver value to a customer in exchange for their money. In a nutshell, this is how businesses operate.
So, what is the value you can deliver to a customer?
Think of the result you want the customer to have after purchasing your product and service. Get as specific as possible by asking yourself questions like this:
- What will the customer get by purchasing your product or service?
- What negative outcome will be removed by purchasing your product or service?
- How will the customer feel by using your product or service?
- How will their life be impacted by using your product or service?
Once you answer these questions you will know what value your product or service brings to the marketplace. If you can’t come up with any answers, then you need to spend time reflecting on these questions.
The answers to these questions can also be used in your marketing. It’s not only what separates you from your competitors, but also a great way to connect emotionally with your future customers.
2. Who is your customer?
You must know exactly who your ideal customer is. If you do not know, you can waste money on advertising to the wrong people.
Before creating any product or service, do your research on your target market. You need to understand everything about your ideal customer to create a product or service that solves a problem for them.
Put yourself in your ideal customer shoes. What are there likes and dislikes? What are pain points they face on a regular basis? Where do they congregate?
By doing this customer research, you’ll know exactly who your ideal customer is. It makes marketing and selling to them much easier.
Also, you can create multiple products and services that serve their needs and wants because you know a ton about your customers.
Thanks for reading Your Business Must Answer These 2 Questions To Succeed. For business ideas, download our free guide here: 25 Six Figure Businesses You Can Start Today.
