Launching ideas at the right time

 

...you need to have built trust to your clients before you launch new ideas.
…you need to have built trust to your clients before you launch new ideas.

As a business owner you have a lot of chores and tasks but your main task is to fulfill the needs of your clients. What frustrates me is when my bank, my supermarket or my other service providers do not seem to “get” what I need. What frustrates me even more is when I give feedback that they are just defending the status quo. When I invite them to have a conversation with me they do not listen…

But ACHTUNG: As entrepreneurs we might fall into the same trap.

We are often convinced that what we do is relevant and helpful for our clients. A few of our clients will not be 100% satisfied because we fail to notice the signs that scream “Hello, you are not giving me what I need.” Sometimes they simply had different expectations.

When is an idea ready to be launched?

When you are planning to launch your business for the first time or you are planning to launch a new service or product you might want to get together a small group of clients to “pilot” the service or product.

What type of relationship do you have to have to your potential clients?

Before you invite your clients to “pay” for anything you need to have built your credibility and a relationship of trust.

Why is it so hard to spend time and money on a course?

I know from my own experience that even though I would like to participate in a lot of courses the decision about spending time and money on learning and growing is often not a priority when we have to pay rent, food, children’s needs. Think of how much you would be willing to pay and under which circumstances. What would you need to go through or suffer from before you spend money on your own learning or a service? (It is a different story when your employer pays for it.)

What is a good price?

Price is a hot potato. You cannot undersell your service because you are running a business but at the same time you need to make it easy for your client to spend the money for what you offer. It needs to be reasonable but a no-brainer.

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Price can be a hot potato.

How well do you know your target market?

In order to judge what price is right you need to know your target market and their spending habits well. One example: I am happy to spend 100 CHF on a good manicure or a good wellness massage but I am not happy to pay 100 CHF for a credit card or to get my car repaired. Some expenses we are very happy to have as they make us “feel good”. Others just seem to be random and a waste of our financial resources. You get the idea?

How is Marketing related to this?

A secret of Marketing seems to be that it makes us “feel good” about the expenses that we do not necessarily want to have. You find tons of videos on youtube where Marketers will explain how they “sell” us a negative and convert it into a positive.

My advice is that you speak a lot to your clients in person and always have a pilot before you launch a product or service. Let me know what your experience is.



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