The Price of Business Digital Network has a new series of outstanding commentaries from thought leaders. This is one in that series.
Over the years, I’ve worked with hundreds of entrepreneurs, startup founders and business owners. I’ve heard countless times “I want to become the next Uber or AirBnB”, “I want to beat Amazon within 6 months”, “Everyone is my target audience”, “It’s great, I don’t have any competitors”, etc. Success doesn’t happen overnight. It takes hard work, dedication and resilience.Before thinking about becoming the next unicorn (Billion dollar company), start with the basics: understanding your target market. Not everyone is your target. Companies like Facebook or Amazon started small as well. Facebook was targeting students at Harvard while Amazon was just selling books. Start by making 1 sale or getting 1 user. Then, aim for 10, 50, 100, 500, 1k… This is how you grow your business. I like the quote from Reid Hoffman “You Don’t Start With 100 Million Users. You Start With A Few. So Stop Thinking Big, And Start Thinking Small.” If you still think everyone is your target market, ask yourself this: will a farmer who lives in Peru need your product in the next 6 months? Does a 2 years old baby from Japan need your product? Will a retired grandmother from Nigeria find your product useful for her? If the answer to any of those questions is “no”, then it’s time to build buyer personas.
My name is Jonathan Aufray, I am the co-founder and CEO at Growth Hackers. I am originally from France, I lived and worked in the US, the UK, Ireland, Spain, Australia and I’m now based in Taiwan. During my 15-year career, I worked with entrepreneurs and businesses from 90+ countries helping them with digital marketing, lead generation, conversion rate optimization, data analytics, automation and sales.
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