Ep 56: You have to kiss a lot of frogs - to find your business prince.Nov 12, 2020
On today's episode, I share how your business is all about trial and error. Yes, you have to "date" so many pieces of your business until you find that perfect one. Don't ever think you are a failure or this is not working...realize that you simply need to adjust and try another way of offering your products/services. Your business is a continual testing process - don't ever forget that!
I give you 5 scenarios where it's important you realize that you are testing things.
1. Your business model. Sometimes you know right off the bat and it's easy. Other times you have to keep playing around with how you offer your services. For example, you may start with pop-up shops, then move to online sales. You have to be testing what works best for you.
2. Your product development. You need to what is the easiest and most simple offering you can create to start making money. Keep it simple, then you can always jazz things up and add other ways of offering your products and services. Developing your product requires constant testing, customers' opinions, pricing testing, etc. so you can keep improving it and making it as desirable as possible.
3. How you attract customers. Some things work - some things don't. For example, my podcast is a great way for me to attract customers. It truly feels in alignment with "me." But social media for example, it's not my big way of bringing in new clients. So, I don't do much of it. For you, it may be that you find so many clients through social media - then awesome! Keep testing how you are sharing your business with the world and seeing what type of return you are getting on your efforts.
4. Your pricing. Pricing is a big deal for serivce-based business owners. It is part of your branding - but also has to meet the clients where they are. Test pricing. See what works and what doesn't. Try raising the price - and maybe lowering it. If you have a product-based business, try bundling things together so you can make it easy on your customers to decide on products. Sometimes you'll find they like the bundles better - and it ends up bringing in more revenue for you.
5. The types of customers. Many don't think about this, but you must figure out your best type of customer - then try to market to those people to draw them in. You don't want to keep attracting ones that are high maintenance or slow to make decisions...you want to bring in the ones that are the easiest - and that appreciate your products/services the most because they get the most value from it.
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