Many aspiring entrepreneurs make this common mistake.
This is the reason why many failed in business big or small. They missed the point of what being a true entrepreneur is.
But I have to admit, I made the same mistake too years ago that made me lost Millions of Pesos in just 12 months.
If you’ll think about it parang common sense lang e.
But as I always say…”Common sense but not common practice.”
What’s that BIG mistake entrepreneurs make?
Their primary focus is on making money instead of providing “value” to serve a market.
They simply ask themselves…”How can I make more money?” instead of “How can I provide more value so I can make more money?”
Let me explain further.
If you’re an employee, you don’t get salary simply because you’re reporting to office. You’re getting paid because of the VALUE you give to your employer.
Whatever your job is, you can be an accountant, nurse, engineer, or whatever, what you do in your job is the value you give to your company. In return they give you money or SAHOD.
If you’re a school teacher, it’s your ability to teach and the time you spent managing your class.
If you’re a call center agent, it’s your ability to answer call and help solve your customer’s problem over the phone or email.
If you’re a computer programmer, it’s your programming skills and an ability to develop new software or debug a code.
How much money you’ll make depends on the value that you provide in our society.
Some skills are more valuable than others and that’s why some people make more money.
How can you apply this in your business?
Think of the VALUE that you give to people. The SERVICE that you provide to your target market.
Do you want to double the revenue of your business?
Do you want to increase your profits almost overnight?
It’s really simple. Start by ask yourself these two questions:
How can I serve more people?
The more people you serve the better.
That’s why many Entrepreneurs have become multi-millionaire quickly with the Internet, because they can serve hundreds of thousands if not millions of people online.
Here’s a tip for you.
You may partner with someone that serves the same customer as you are. Let that person help you promote your product/services and in exchange you give that person a commission.
Doing this, you tap into a larger number of people. Again, the more people you serve the better.
The next question you should ask yourself is this:
How can I provide more value to my customers?
What do I mean by that?
For example, you sell digital cameras. So your market is people who are interested in photography. Instead of just selling your cameras, why don’t you create 1-day workshop that will teach newbies on how to be a better photographer?
Or maybe you can create a series of video tutorials, put it in a CD or YouTube and sell it to them.
Or maybe offer an online coaching program like what I do.
Believe me, if you’ll think hard and long enough, you can think of something that you can offer as added value to your customers.
Your own imagination is the only limitation.