Hey! Statistics say that most new businesses don’t make it past the 1st year and if they do they don’t generate a profit before year three! As harsh as it may sound unfortunately that was true for me once.
Yup, back in 2007 my first business, a hair and beauty shop only lasted 7 months. This month marks 4 years since I launched my current business so it had me in a reflective and celebratory kind of mood.
As somebody who has been on both sides of the story. I hope you don’t mind me sharing some honest examples of what’s worked and what didn’t with you.
Four years is a lot to fit into one blog post so I’ve split into a 3 part series. This is Part 1
Be very clear on who you work with and what you do for them. It’s a myth to think that if you cater to different needs you’ll make more sales.
What didn’t work: My 1st shop was (in my head) aimed at the Afro-Caribbean market. I didn’t spell it out enough in my marketing so guess what, the clients I wanted to attract thought I was just another cosmetics shop that didn’t sell make up for dark skin.
What worked this time: When I 1st launched my wedding planning business, I catered exclusively to mixed couples we were called Fusion Company London after all. Clear marketing meant I wasn’t competing with all of the other Wedding Planners out there.
Clients came to me because they knew straightway that I would understand AND meet their needs.
The best thing about this was I asked for premium fees from Day 1! J Ker-ching!
How to make this work for you?
Take a look at your current Marketing. Will someone know at a glance if you can help them or not?
Finish this sentence
You can choose a occupation label like: Therapist, Women, Teenagers
OR you can describe a niched group like: People with adult acne, Widowed men with young children, Female CEOs
The key is to make it very easy for your ideal clients to say “Yes that’s me”
Right, that’s it for now. Let me know how you get on and of course feel free to ask me any questions.
Be Rich~Stay Sassy