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Friday, 31 August 2018

The Product

One of the biggest disappointments in young entrepreneurs today is the lack of understanding in the way they see business. Most of the young people I observe or come across think that business is the easiest way to make lots of money. They think that all you have to do is have a product, any product and find a place to sell them and you will make lots and lots of money.
However, the truth is far from it. This article will make you realize, why no one will buy from you even if you have a product, why you will fail to sell to anyone and how changing one simple thing can make all the difference between struggling and thriving business.
The Product
Lets start with products or services. No matter what products or services you are selling, you will not make a lot of money from it. Yes, its true, it doesn't matter what kind of products or services it is, no matter how much effort you took to manufacture it, no matter how much money it takes for you to deliver it here, you won't maximize the financial potential of it. Why? Because people simply don't buy products or services.
Yes, you see right, they don't buy products or services. What they do buy are the results these products or services gave. For example, if you go to hardware store and buy a drill. Do you really want or drill? Yes? or do you really want a hole?
See? It's the hole (results) that you are looking for and if you have a product or service, what are the results can they give? Too often too long most young entrepreneurs are stuck with a trader mindset. They think that all they do is sell clothes, sell bicycles, sell commodities.
So the first thing you need to do in order to improve your business is to ask yourself, 'What results can my product or service give?'