Figuring out your purpose requires actual reflection on both your own desires and the audience you want to serve. After all, doing business boils down to serving others in a mutually beneficial way. Customers give you money, gratitude, and a shared passion, and you address their problems by applying your unique skills and knowledge to what you sell them.
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If youâre a company of one, your mind-set is to build your business around your life, not the other way around. For me, being a company of one means not having to bother with infinite growth, since that was never the purpose of my working. Instead, I just focus on maximizing work in a way that works for me, which can sometimes mean doing less.
But what most business owners or even team leaders often fail to consider is their customersâ success. After all, your successful customer has the financial means to continue to support your business, which in turn increases your profit. So your customersâ success leads to your business succeeding as well.
Customer educationâproviding an audience with the knowledge, skills, and abilities to become an informed buyerâis one of the most important parts of a sales cycle. Too often weâre so close to what weâre selling that we assume others are also experts on it, or know what we know, but most of the time thatâs not the case. Customers donât always know what they donât know, or donât know enough about something to realize how useful or beneficial that information could be to them or their own business.
By making customer happiness your top priority over new customer acquisition and then incentivizing customers to share the word about your business, less of your money needs to be spent on promotion. With a company of one, which can be profitable at any size, such slow but sustainable growth makes sense. You start with the idea of creating a trust-centric business, build products that customers love, make sure theyâre educated and happy with what theyâve purchased from you, and then give them systematic ways to share their success with others.
Here's a common pattern: You're new. You're scrappy. You'll do whatever it takes to meet the needs of your clients, which means growth by any means necessary. If a customer wants to give your standard offering a slightly different spin, sure, you'll give it a try. Your effort is also known as customizing your product or service. At this point, there's such a premium on developing customer relationships that you're not thinking about how to pull this off in a profitable way. Instead, you're thinking about survival. If you can keep a growing number of customers happy, then good things are more likely to happen.