So much work goes into the planning and start up of your small business. From the beginning ideas to the implementing of them. You can go from point A to point B without asking yourself one of the most important questions that can make or break your business. That question revolves around your customers. Without customers your business will fall through the cracks and will not only have a negative effect on the business itself but also you personally as an owner. The risks you take in your business need to be thought out and worked through to decrease the chance of failure and increase the chance of success. This ideally starts with your customers.
It’s important to do your research on your customer base. The last thing you want to do is open your business in a densely populated area of businesses alike. The competition might be to high, so it is very important to investigate what is being offered in your area and if there is a need for your business. If there are low customer numbers your business is not going to succeed. For example, if you live in a small community that has two hardware stores, you may need to rethink opening another one.
Then you want to look at your customers. Do you know who your customers are? Why should they choose you over someone else? You need to set the bar high and challenge what others are offering. This does not mean attack other businesses that are like yours but offer something that is greater that will attract your customers. This could be as simple as giving off the family like atmosphere or taking it up a notch and being a pet friendly business. Again, it is important to learn about your customers. What are their likes and dislikes? This goes hand in hand with open communication and giving your customers the opportunity to speak and give insight into your business. Because who is going to know better then the customers themselves.