Life changing thoughts

If you understand some basics of business, then you will not make the mistakes that people often make.

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LifeChangingThoughts ByReema Srivastava
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  • Once you find a solid reason to set up a business, then you feel like starting your venture immediately. But before that you should understand some basic principles of a good business. When you are starting out, it can be a good idea to attract people towards your work. Because when people like your product and service, you will automatically have a lot of customers, right? No, this is a mistake that people often make. Despite your desire to appeal to people, you shouldn’t try to sell everyone. Because not everyone likes anything.

  • Take your shopping test only for the example, you prefer only certain particular stores and brands. And whenever you need something, you come to them, you do not even like to look at someone else. Your friends, parents around you, everyone has their own different test. You won’t be able to find any product that everyone likes. And if you also want to create such a product, then in the end you will create something that no one will like. So don’t be afraid to tailor your product to a specific group of people, as this is the only way to attract certain customers.

  • Another common mistake is that people think that the customer will buy whatever they need. It seems like a foolish thing to not offer your customer what he needs or market his product according to the customer’s need. But it is true that in the real world people do not buy what they need, but buy what they like. In fact, sometimes we do not buy the things that we need because they do not seem exciting to us. Now think about those things that you have bought recently. Did you need them or did you buy them out of preference? So as a business owner, you not only have to make your product necessary but also make it one that people like and want to buy.

  • And lastly, don’t ever think that you can depend on your loyal customers to keep your business alive, no matter how good service you have provided. This is because not every business is a repeat business. If you are running a business that people buy on a regular basis, such as food, clothing or beauty products, then they will continue to visit your store. But if you are selling something that is not used so frequently, such as wedding planning etc., then you will have to be constantly on the lookout for new customers.

  • Find your ideal customer and find out what they think about your business. Now that you know which common mistakes not to make, let’s talk about the ideal customer. Your ideal customers are the people with whom you have built your business keeping in mind. When you are trying to identify your ideal customer, you need to find your niche which is very specific and very deep. For example, take mother. Mother is a noble, but to find out how many gods are there in the world, it will be a matter of very big level. But if we talk about that business whose purpose is to solve the problem of mothers with children up to 3 months? Keeping your niche specific means that you can build the language of your business according to your target customer. You can advertise where your target customer is located, whether online or offline. For example, a local cafe where parents come or an online parenting forum.

  • Making mothers with babies up to 3 months old is not only specific but also deep, with 700,000 women giving birth to babies every year in the United Kingdom alone. Being a deep nerd is beneficial because if you appeal to people, you will have frequent customers. Before you consider any particular group as your ideal customer, there is one more thing to be done – do research in your local area. For example, you notice that there is a dearth of premium women’s clothing shops in your local area. Before taking a room in a storebuilding to set up a shop, think about how many women live nearby and who among them can become your ideal customer? Although there is a shortage of that particular thing in the market, but it is not necessary that because of this you will get your ideal customer.

  • There are ways to know about the population of any area. For example, if there is a housing development somewhere nearby, the developer must have done research about the social and economic condition of the area before work. You can access the data created by them. Once you have created the specific and deep need of the ideal customer, then further you have to know whether he is ready to buy your product at a price which is beneficial for you. You can take a cheap and risk-free way to check this. Rent a space for yourself in the weekend market of that area or you can also rent it in an area where your ideal customers visit.

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