Fire Your Market Or Your Bank Fires You!
I am not your regular 8 to 5 person. In actual fact, I hate it. The last time I worked for salary was when we had like 7 months strike when I was in the higher institution.
So, I had always been working on my businesses, creating and packaging values. That’s the way I am wired.
Several years ago, I was asked to consult for a soap manufacturing business. This business is losing cash like blood! The monthly revenue cannot even pay for the salary of half the staffs.
I came in and spent a few days, not with the CEO, not even with the Finance or Admin team.
I spent the whole day with the sales department, looking at their records viz a viz the production.
I spoke with the sales team.
I went out with them to visit their best customers. Then I realized that this statement is true: Any fool can make soap; It Takes A Wise Man To Sell It.
The first thing I did was to fire – not the marketing staffs – but their entire MARKET!
Result? I was able to raise the revenue of the company by 1,000% in just 4 months.
Choosing a “market” that you want to build your business around is one of the most important decision to take. Miss this area and your business might drag for decades.
The story was told of two companies selling roses during valentine. The first company targeted middle age men of 36 – 50 years, while the second company focused on elderly men of 51 – 65 years.
While company A sells for $25, company B sells for $75! The same product, targeting different markets. It wasn’t the product that determines the price or the income, it is the MARKET!
What I get from working professionals in a month, I might not be able to get from undergraduates in 1 year.
Your MARKET is everything!
I am Pope Bukola Odedeyi
NB: In my new product, From Zero To 350k, I outlined step by step on how to target a highly profitable market with your offer. That was one of the core 12 things that moved my account balance from red to green.
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