Who Is Your Customer?

Customers are individuals, private or public organizations that pays for valuable products and services. This can either be an end user who uses the product or simply the economic buyer who decides to buy the product. Without a paying customer, there is no business.

There's a possibility that the customer can be both the end user and an economic buyer. 

For instance, if a mother wishes to buy a day care service; she will be the economic buyer while the baby is the end user. In the situation where she decides to buy a bottle of water to quench her thirst on her way home; the mother becomes both the economic buyer and the end user. 

You need to know your customer!

So it's easier to find them or help your marketing staff identify more paying customers.

The bitter truth is, you have no business without a paying customer.

Don’t jump on other people’s ideas, create yours or study the lapses in other people’s idea and offer a better option. 

There's no point wasting time creating a product or service that is not needed. Make no assumptions, ask questions from the needy customer so you can understand the best way of offering satisfaction.

Having a good feeling about an idea is not a good reason to launch out. To avoid disappointments of no sale, find out the gaps or pains prior to creating any product or service. 

I often ask entrepreneurs "who is your customer?". 

It's pathetic to get responses like "My customer is anyone willing to pay me". 

This is just a No No. 

It is definitely not the right way to go about starting nor running a sustainable business. 

You need to be crystal clear, creative and extraordinary in thinking. 

Sieve your idea and the possible markets till you discover that which you can dominate earning disproportionate returns in form of money for value created.

FOOD FOR THOUGHT:

Everyone appears to be selling the same product; 

Who will be the buyer?

Dare To be different!