"To have a success business, you need to have a clear understanding on what you're going to sell and who you're selling it to. 99% first-time entrepreneurs don’t put a great deal of thought/ financial into their niche."
Follow-up on my previous article , some asked about how to get started on Stage one. I summarised in the following approach.
Mindmap
Business Case P&L (Spreadsheet) for at least 36 months forecast
A detail Go-To-Market tasks list for coming 3 months
Contingency plan (and agreed) if the result not as expected.
In this section, we go briefly on Go to Market (plan)
Identify the buying center and personas.
Craft a value matrix to help identify messaging.
Test your messaging.
Optimize your ads based on the results of your tests before implementing them on a wide scale.
Understand your buyer’s journey.
Choose one (or more) of the four most common sales strategies.
Build brand awareness and demand generation with inbound and/or outbound methods.
Create content to get inbound leads.
Find ways to optimize your pipeline and increase conversion rates.
Analyze and shorten the sales cycle.
Reduce customer acquisition cost.
Regardless if you are selling products or service, you should define your niche and identify your customer segment, find them, talk/ communicate to them.