One of the most simple mistakes business owners can make is to think that everyone is their customer.
This belief can be detrimental to their business because:
A) it makes their value proposition weaker for their business – spending time trying to please everyone with their product and marketing and ending up pleasing no one.
B) wastes a huge amount of money for small businesses trying to target the mass market rather than a smaller niche in the market which would be more accessible.
The main aim is to mean something to a smaller group of people rather than meaning nothing to everyone.
Some people will be arguing that of course if you want scale you can go after the whole market, citing huge companies like coca-cola or amazon but what they forget is, these companies started out small and focused on a niche before expanding into product offerings for the whole market.
With Amazon it started with books and then expanded to offer everything from digital products to web hosting and almost anything you can think of in between.
Coke started with one carbonated drink and now offers products for every niche you can imagine.
So with your small business remember that everyone is not your customer (at least not for now) and spend the time figuring out who is and marketing to them.
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