When I work with creative entrepreneurs, this is one of the worst scenarios to come across.
The worst scenario is someone trying to sell stuff that’s low quality when they know it isn’t any good–it gets even worse when they’re trying to sell it at high prices. But, selling to the wrong people is something that really stinks for the entrepreneur who is doing everything else right.
Let’s say you have this amazing product that you know will make people happier or make their lives easier or will save them time–it gives them some really good benefit–but, the people who it will benefit can’t afford to buy it or don’t think they can afford to buy it. That’s not a good place to be as an entrepreneur or as a customer.
Unfortunately, I’ve worked with many businesses in which this is their biggest problem. They aren’t selling to the right people or their target market can’t afford what they are selling. Watch today’s video to figure out if you’re selling to the wrong people and how to fix it if you are.
If you’re selling to a market that can’t afford your products or services, you’ve got a couple options.
You can sell to people who can afford your products or services or you can change your business model in order to serve the market you want to serve.
For instance, if you want to sell coaching to teens who are struggling with self-esteem issues and low confidence, you’ll probably find that they can’t afford one-on-one coaching at a price that gives you a profit. Instead, you could sell the coaching package to the teens’ parents, because they are the ones who could afford it. Or, you could come up with a more budget-friendly option such as group coaching or a membership package that includes monthly videos and downloadable worksheets.
When you’re selling to the wrong people, you have to make a change. You won’t reach success if you keep doing what you’re doing.