Minimum Viable Audience (#14)

It’s not a new concept, but it’s an incredibly important one in a world where brand loyalty is low and a slew of options are at your fingertips. Not only do consumers not care about you (until you give them a reason to) but employees feel the same way. Linking the successes of employees to the expectations of the clients is what will cause you to be truly profitable in the long-run. Now how do you get there?

Think hard about how many people you need to “Jaw-drop” to sustain the lowest level of operations. Consider that impressed/wowed clients will make larger purchases, more frequent purchases and spread the word talking about how great your business/service/product is. The amount of clients you need isn’t the problem – it’s the relationship you build with clients that needs to change.

Figuring out how to create actual value with your client base is incredibly exciting too – one of the best parts of my job. Thinking about ways to delight people that I want to build decade-long relationships with.

If you don’t enjoy this part of the process then you should seriously re-evaluate why you’re doing what you’re doing (and you definitely don’t need to read this blog). If you’re in business only to make money, then I don’t want you taking my advice.Don’t try to scale garbage just to sell it. Don’t try to acquire hundreds/thousands/millions of clients if you don’t care about them. I have no respect for businesses that try to do this.

Start by creating value. Start with the clients in front of you. Delight them, then see what happens.

Here’s another tip for when you’re just starting out – don’t value your time so highly until you’re actually making something. If you’re not willing to do this, maybe your aren’t confident enough in your idea – to being a successful entrepreneur you need this confidence and you need the willingness to execute for yourself. Once you’ve proved something is there, then you start valuing your time appropriately to scale.

Future posts coming on how to link this value back to your employee performance/morale…

Personal Criticism V. Professional Criticism

“Don’t take criticism in life from anyone you wouldn’t take advice from”

This might make sense in your personal life, but it’s nonsense for your business. Businesses need to accept criticism from anyone and everyone. The customers you most upset in the last email blast hold the key to not losing the next batch. By accepting criticism and addressing the problems the business has room to grow and even win back previously unhappy clients.

If you had a chance to get rid of a negative review and change that individual into a brand promoter wouldn’t you try?

The same goes for internal criticism. If you don’t take into consideration the concerns of your talent, you will soon find yourself talent-less (regardless of titles you may bestow on replacements). And we all know talent drives businesses.

Listen to everyone, then act.