The Three Ingredients of Business Success

I hope you are ready for a treat today.

I want to give you a very simple equation that just might make a huge difference in how much money you make in your business. It will change how you conceptualize your products or services, your place in the marketplace, and how you connect with your potential customers. Without any further delay, here it is:
Target Audience + Problem + Format = Your Business Prosperity

In a nutshell: Define your target audience as narrowly as possible, define the problem you are trying to solve for them with your services, and choose the best, the most fun, and the most efficient format or formats for delivering your solution. Sounds simple. And it is.

Your target audience is a group of your perfect customers. In order to narrow down your description, or define your “niche”, ask yourself who you would be the most excited to work with and whose energy you would really appreciate in your business. It is easier to create great products for narrowly defined audience segments because these groups have very specific issues that need solutions, and chances are, there are not many solutions available on the market for them.

State what specific problem you would like to solve for this group. Is it painful enough or important enough for them to seek solution to? Are they going to be elated when they find out you can help them with it? The more significant the problem for them, the higher it is on their list, the more money they are willing to pay you for the solution.

The format is the actual form of the product or service, the packaging of it, and the price. Ask yourself what would be the most suitable format to deliver your solution so it captures your potential customers’ attention, so they see a real value and a real good return on investment in it, and so they are happy to spend their money on it.

Every time you are conceptualizing a new product or service, or a new business altogether, I invite you to run it by the formula. It will get you to the success quicker, I promise you.


Be well.

Margaret Moczkowski
Personal Business Coach
Momentum Coaching
www.momentumcoach.net


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