When you start your business, you obviously want to make money. If you’re focusing on chasing money, instead of focusing on creating value, you’ll work a lot harder for your money.
Instead of focusing on your revenue, focus on meeting your customers’ needs and solving their problems. To discover what your customers need and what problems they want solved, you’ll have to talk to them. You can add polls to your website, respond to your customers on social media, or poll them in your store. Spend time getting to know your customers, and they’ll tell you what they want out of your products or services.
When you start putting your customers’ needs before your business’s need to create revenue, your customers will become repeat customers and brand ambassadors. They’ll start selling your products or services for you because they’ll recommend you to their friends, family, and coworkers. Make sure you continue to offer fantastic customer service so that more and more customers start recommending your products or services.
When you start chasing value instead of revenue, you’ll want to make sure that your pricing structure matches the value you’re creating. You don’t want to over-value your products or services because potential customers will be scared away. On the other hand, you don’t want to under-value your products or services because you won’t make enough revenue. Test out different pricing levels to determine what works best for the value you’ve created for the revenue you want.
When you start creating value, revenue will follow.