[Think Like An Entrepreneur Thursday] Ep. 11 Why Knowing Your Customer is Crucial

So many times I see entrepreneurs jumping in and getting excited because their product could be used
by ‘everyone’.  When they begin to market, they’re so afraid of losing a sale that they exhaust
themselves.  Not only time wise but financially, because they are trying so hard to get in front of
everyone.
 
I know it seems counter intuitive because getting in front of only a select few would mean more
sales, right?
 
When you’re starting out, this is going to be the best approach to take because it’s going to end
up saving you a ton of time and a ton of money.
 
It’s important that you’re very clear about what problem your product or service solves and who
specifically it solves it for.  It’s going to help your business grow in several areas.
 
First, it’s going to be a lot fewer resources because you’ll be able to cast a much smaller net.  You’ll know
exactly who that net is going to get in front of.
 
Second, it's going to allow you to get really clear on your messaging.  Think about the products
that you maybe didn’t necessarily need, but you felt like they knew you and absolutely had
to get this product.
 
Third, drill down and start figuring out their likes, their interests, who they are.  Think of every
specific demographic you can think of them.So many times I see entrepreneurs jumping in and getting excited because their product could be used by ‘everyone’.  When they begin to market, they’re so afraid of losing a sale that they exhaust themselves.  Not only time wise but financially, because they are trying so hard to get in front of
everyone.
 
I know it seems counter intuitive because getting in front of only a select few would mean more
sales, right?
 
When you’re starting out, this is going to be the best approach to take because it’s going to end up saving you a ton of time and a ton of money.
 
It’s important that you’re very clear about what problem your product or service solves and who specifically it solves it for.  It’s going to help your business grow in several areas.
 
First, it’s going to be a lot fewer resources because you’ll be able to cast a much smaller net.  You’ll know exactly who that net is going to get in front of.
 
Second, it's going to allow you to get really clear on your messaging.  Think about the products that you maybe didn’t necessarily need, but you felt like they knew you and absolutely had to get this product.
 
Third, drill down and start figuring out their likes, their interests, who they are.  Think of every specific demographic you can think of them.