WHAT SHOULD ME MY STRATEGY?
Being in my line of work allows me to talk to business owners and hear their stories on how their business started.
And over the recent months, a particular story which I’ve heard a number of times from multiple people kept on repeating and I found it very much interesting.
It would be that they start of by working for their family’s established business with the expectation of them running it eventually.
But they would also have the sense of independence and wanting to create something they can call their own.
Before, I would have thought that these are 2 conflicting ideas, but as I heard their stories and thought out reasoning, I found out that it doesn’t have to be conflicting.
What these entrepreneurs did was to establish a completely NEW business with a product or service different from what their family business had.
BUT they would create products or services that would serve the EXISTING CUSTOMERS and customer profiles thet their family business is serving.
I found this strategic planning to be very smart.
A lot of times, we focus on finding that one smart idea or that one winning product rather than really focusing on a market, honing in on their problem and finding ways to help them solve that problem.
I find that this idea could work whether you’re looking for a new business idea or you’re looking to grow your business.
With the idea of growth, it’s really the idea of “How can i continue to serve those whom I already served?”
And the best way really to find this out is to ask them.
So don’t be shy
Send that message or invite them to a call
Whatever works for you
Have a great week ahead