Don’t put the cart before the horse when business planning

As shown by previous blog posts, every now and again I like to visit the business forum pages and see what queries entrepreneurs are posing to the community there.

 

Some of the most interesting ones are about marketing, as they nearly always give excellent advice.

 

This is the case with one story I’ve been following.

 

It’s a software firm offering bespoke accounting software. By the sounds of it, they build the software you need from the ground up based on exactly what you need from it.

 

Apparently this normally costs thousands as a one-off payment, but this firm allow clients to subscribe for a more reasonable fee.

 

The reason they’re posting on the forum is because even though they already have a couple of clients signed up, they have numerous visitors to their website who aren’t translating into customers.

 

All the responses from the community about why this may be so make a lot of sense.

 

  • Work out who needs your product, and who their influencers are.
  • Develop a unique selling point; what makes your software different?
  • As usual, sell the benefits not the features. The seller is very proud of their work and wants to show what it can do, but not seeing things from a customer’s point of view.
  • On the website, say what the product is right away to eliminate confusion.
  • Explain what the different options for a customer needing accounting software would be – and how choosing your option is best.

 

To be fair, this advice could be taken on by almost any entrepreneur or start up.

 

At least three of the points should come under your Business Plan, which you should create right at the beginning of your venture.

 

So even if you have a great product, you shouldn’t put the cart before the horse and hope it finds its target market all by itself.

 

But you will need more information that those five points.

 

Find out what they are here:

 

https://www.madenotborn.com/starting-your-own-business/

 

David

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