There are so many reasons why starting a business is difficult for everyone.
- Lack of capital
- Lack of imagination
- Lack of persistence
- Lack of focus
- Lack of a good idea
- Lack of discipline
- Lack of luck
This list could go on forever.
But in my experience, the hardest part has always been creating a product or service offering that no one else sells, that solves a specific problem or need and one that customers want to tell friends who have a similar need.
You can solve all the problems manufacturing your product but fail because although wonderful, no one wants to buy your product or share your story. A brilliant website and clever name are important – but without a reason or means of sharing, you don’t build a way for others to tell their friends.
Starting a Business is Difficult
So, my first question to clients is often to probe on this point – why will anyone want to share your story?
How will you help your happy customers spread the word?
In thinking about how you will market your product, how does it stand out from all the other products with a similar function?
Listen to Conversations
I like to listen to conversations at coffee shops, grocery stores or restaurants. I’m curious to hear someone sharing information about a product. Are there cues you can pick up on about what people tell their friends? If you work in a B2B environment, what do you consciously do to get your good customers to tell their friends at other companies about you?
- Last week I overheard two older women complaining that restaurants always serve such big portions and they wished they could have a smaller size option. Sounds like an opportunity to me for a restaurant designed for seniors.
- I was at a family gathering a few weeks ago and heard at my brother’s neighbor mentioned that he wished finer wine was made in smaller bottles because he and his wife have such different tastes and neither finishes a big bottle. Is this an opportunity that is underserved in the wine industry? Beer is sold by the individual serving – why isn’t wine more focused on this segment?
- I saw a hot sauce in the supermarket that had a mini-bottle attached to it. The label said, give this sample bottle to someone you think is hot. (It also helps if they like hot sauce). Someone was thinking about sharing.
- At my neighborhood pool, I heard one acquaintance tell his friend, we just switched our trash service to a company that only employs vets. It made me feel good to work with them and the cost was the same as Waste Industries, the big guys.
I like to spend time working with my clients to determine how they can create a business, product or service that happy customers will share with their friends.
How can you charge the story with a memorable difference so it is an easy story to tell and one that has WOW built in?
The ease of sharing a story can make or break a business. All the advertising money in the world isn’t going to get consumers to buy in this disintermediated world.
I recently learned about a small bakery that started in a nearby town. They only employ people with disabilities and a range of challenges. They do make some great products, but everyone wants to share their story with friends to encourage community support.
How do you bake sharing into your marketing?
Need help building sharing into your product or service? I can help. 919 720 0995 or email me at jeffslater@themarketingsage.com
Photo credit: Flickr – https://www.flickr.com/photos/68502717@N08/with/7155138495/ Thanks, Sasquatch 1 for the cool photo.
