You created the business of your dreams. There is only one thing missing: profits! Here is a four step analysis that will help you get on track to determine why your bottom line is so skinny.
1. Who is your target audience? To what customers do you aim your products or services?
2. What is the biggest problem that your target audience has and how does your product or service help solve it?
3. What advantage do your target audience have in selecting you instead of your competitors for that particular product or service?
4. What is the first point of contact that a member of your target audience typically has with your business or firm?
Follow these four questions, and look for the obvious matches or mismatches within the answers. The results may provide some insight for you.