I had a discussion with an individual that was interested in utilizing my services to assist them with growing their business. Since they were relatively new to the world of entrepreneurism I started with some basic questions to help me get a better feel for what the client was hoping to achieve. The interview went something like this:
- My question: What made you select this industry? Answer: I love the industry. I love everything about it.
- My question: Who is your target market? Answer: Everyone, I'm going to target everyone because I have something for everybody.
- My question: How do you plan to market your products and services? Answer: I'm going to put the word out and my customers are going to spread the word.
- My question: Who is going to help you run and build the business? Answer: I'm going to do it all.
I'm sure that you get the tone of the entire interview and so there is no need to for me to go on. A few things that new business owners often forget is that 1) you cannot do everything, be everywhere, or please everyone and 2) business is not about you, it's about other people - other people known as customers!
If you decided to go into business without the expectation of making any real money, then great, it can be all about you! However, if you are like most people and you want to turn a significant profit, your level of thinking has got to be centered around what your targeted market of customers want and less on what you think, feel and want! It's not about you!
For more on costly mistakes to avoid when starting a business, read my E-Book, "Make Money Not Mistakes."