Wait a minute—didn’t we just do that? Kind of. But the real cost you need to count isn’t an arithmetic exercise. You must consider the cost to your nonfinancial priorities— school, family, church, friends, and future. The time and attention you pour into your work can damage things that can’t be replaced with cash. If the true cost is too much, set your plans aside. On the other hand, if you can start this new venture without sacrificing more important things, give it a go.
SELL, SELL, SELL
Launching a business is tough, but keeping it going is tougher. To survive, you must attract customers. Who are the people you’ll be serving? How do you land them as customers? Basically, there are three circles of customers: 1) people you know, 2) people who know the people you know, and 3) strangers. Let’s look at each circle.
The easiest way to find a job is to ask people you know. The same is true in finding customers. People buy goods and services from those they know and trust. That means your best prospects are family members, friends, and neighbors who already know you and trust you. That’s your first circle of customers.
Circle 2: People who know the People you know
Chances are good that you won’t muster enough customers from your circle of acquaintances—you’ll need a larger circle. The best way to reach new customers is through word of mouth. That’s how to reach the second circle—the people who know the people you know. If your current customers are thrilled with your work, they’ll tell their friends. If they’re not impressed with your work, they won’t spread the word. (Or worse, they’ll spread a badword.)
That means that the quality of your service is your best advertising. Today’s job well done is tomorrow’s best advertisement. You’ll keep hold of your current customers longer, and they’ll help you find new ones. This is important in every business, but especially so in your
business. The truth is, some folks are a bit skittish about hiring teenagers. Too many unreliable and mediocre young workers have preceded you on this planet, and you must overcome the unflattering stereotype they produced. When you consistently deliver good work at a fair price, adults are more than willing to discard that stereotype and tell their friends to hire you too.
Circle 3: Strangers
It would be great if your business could survive in the first two circles, but most can’t. You’ll need to tap into that third customer circle: strangers. That’s a big circle! There are several billion people on this planet who don’t know you or your customers. That’s OK—you probably don’t want that many customers anyway. To find the customers you do want, you’ve got to narrow them down. Figure out who your most likely customers are (remember, the ones who really need what you’re offering). Then figure out where you’re most likely to reach these people. Now go there.
In that dog-walking business idea, your customers are dog owners who don’t have the time or ability to walk their own dogs: they work long hours, or travel out of town, or can’t get out of the house a lot because of a health problem or old age.
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