If you don’t understand your customers, you are hoping that for some unknow reason they will give you money.
What do you do if you’re losing customers?
The first and most important question is: What is happening to the size of your target market? If the market size is shrinking, then you may need to rethink your target market. The second most important question is: What have the customers started spending their money on? In other words, are their needs still the … Continue reading What do you do if you’re losing customers?
Do you understand your customers? V2
The purpose of this article. Help the board of directors and C-Suite establish a common understanding of their cash paying customers and users. If your business model is a two sided market (e.g. Google would not have cash paying customers if there weren’t lots of free users of their search engine) you will need to … Continue reading Do you understand your customers? V2
How do you interview potential customers? V2
The purpose of this article The goal is to help founders as they are launching their startup. The article is structured to help with potential customers interviews starting in the first week of the startup. The information in this article can be modified to help a later stage startup, a scaling company, or an established … Continue reading How do you interview potential customers? V2
What is a value proposition?
Overview A value proposition is the customers perception of value. The value proposition = (All the customer achieved benefits) / (All the customer incurred costs) You need to understand both the customer and the competition. Your growth and survival in the marketplace requires helping your customers achieve a compelling value proposition. A value proposition is … Continue reading What is a value proposition?
