It is inevitable that a new client will present his or her marketing plan, stating the market size and the percentage of the market they are going to gain. The math may be good but the business plan is not. Whether starting a new business or launching a new product in an existing business, know your first ten customers. They are the key to your success:
- Identifying your first ten customers will help sharpen your focus on who your target market really is.
- Talking to your first ten customers before they buy will give you valuable feedback on your product or service offering.
- Landing the first ten customers will help you refine your pitch and value proposition.
- Delivering the product or service to the first ten customers will help you refine and prove your processes for executing you business plan and point out the weaknesses you must correct to grow.
- Following up with the first ten customers after the sale will provide additional insight on how to improve your offering.
- If you do the above well, the first ten customers will tell others about their experience. In turn your customer base will grow along with your business.
Do not launch your business or your new product until you can identify the first ten customers by name. You may not land all ten but you will learn a great deal about your business plan.