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Transcription:
techniques in identifying customers needs and wants
As an online business owner, you can offer your customers GOOD, FAST, or CHEAP...and your customers can only pick two of these. Here's what I mean:
If your customer wants your product or service GOOD and FAST, then it's not gonna come CHEAP. Why? Because as the business owner, you're not going to turn away other business and work your guts out for a very short timeframe and give your best quality work...and then heavily discount it, right?
Or, if your customer wants it CHEAP and FAST, then the quality isn't going to be very GOOD. That's because there's a very limited time frame, and there isn't much profit to be made.
This means that as the business owner, if someone wants what you do quickly and doesn't want to pay you much...then in order to meet their tight deadline, you'll essentially be forced to cut corners and throw something together very rapidly. There's no incentive (or time) to do top quality work.
The final option is if your customer wants it GOOD and CHEAP...and if that's what they want, then it's not going to come FAST. That's because as the business owner, this kind of work will be given a low priority and set aside until later.
It becomes a sort of, "I'll get to it when I can get to it" task or job. Meanwhile, us business owners will be serving our more immediate, more profitable customers. Why would we turn down better paying customers because someone wants top quality work but doesn't want to pay much for it?
That's why this sort of work gets shelved...often indefinitely. There's little to no incentive to complete this sort of work in a timely fashion. Why turn down other customers because someone wants amazing quality work and isn't willing to pay much for it?
So again, your customers can either have it GOOD, FAST, or CHEAP...and they can only pick two of them. Now in fact, what you can do is decide ahead of time which two of these you'll offer, and which one you'll ignore and not offer.
And this ties into your business's uniqueness. You could offer high quality, fast service that comes at a premium; or fast results at a low cost and low quality; or you could offer high quality, low cost work that doesn't get delivered very quickly.
And in fact, each of these serves a different market segment. So, really think about the sort of work you want to do...the kind of work you DON'T want to do...and the sorts of customers and clients you enjoy working with most.
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