When undertaking a business diagnostic with clients, one aspect of our discussion centres around the products and / or services being offered. Quite often I find that the decision about what products and services to offer was originally based solely on what the client wanted to sell into the market. The problem here is that making such a decision in the absence of hard data can present some very real risks to the business in that the offering may not align with what prospective customers actually want.
My suggestion is always that my clients undertake regular research into the market, not just when they start the business but periodically thereafter because what a customer wants today is not necessarily the same product or service that the customer will want in the future. When making decisions about the business offering, having access to accurate customer information is one of your best assets so;
DO the research
ANALYSE the data
ACT on the information
DEVELOP products and / or services that remain aligned with customer needs
Do yourself a favour. Don’t try to sell what you want to sell. Make it easy on your business by selling what your customers want to buy!
I would welcome your questions and / or comments,