I was thinking while I was walking the dog about my business and how I could grow the brand in the next few years.
I then remembered a podcast where they posed 3 questions that all business owners should know and be able to answer easily.
These three questions are:
Do you know what your Business is?
Do you know what your Product is?
Do you know who your Customer is?
Let’s look into these a little deeper!
1. Do you know what your Business is?
It sounds simple but do you actually know your business? Can you explain to a 4 year old? Do you know what your USP is? Do you know what your competitors are doing? Are you doing the same as your competitors or are you being a purple cow?
2. Do you know what your Product is?
What are your products that you sell? Do you know how they are different to your competitors? How can your products help your customers? Do you have a product hierarchy? Do you have a loss leader? Have you got a high value product?
3. Do you know who your Customer is?
Who is your ideal customer? Do you know what your current customers have in common? Do you keep in contact with your previous customers? Have you got a plan to get more customers based on your ideal customer? How can you add value to your existing customers so they can refer you?
All of these ideas are not new and they shouldn’t come as a surprise. If they are then think about them and look into them more deeply. I reckon if you can do this for your business and build a plan around this then you will be more successful than you currently are.
If you want to talk about each of the topics more then please let me know. I did this with my business and it helped with creating a strategy to help me develop my brand.
All the best and take care!