Once upon a time, there was an artist/inventor who wondered about starting a new business. With that new business would come products and services that were familiar, but having higher quality, artistic integrity and be experienced in a way that was not only important but emotionally rewarding. This artist/inventor imagined a product that would solve problems and leave a sense of wonder and appreciation of the experience that people would have when they purchased it. It would be revolutionary!
The artist/inventor worked for years to perfect the product and get it to a level of quality, precision and artistry that would be unique and above everything else that came before. But what the artist/inventor didn’t fully appreciate was that if the price was too high, the customers for that product simply wouldn’t be able to purchase it. It didn’t matter that the product was amazing or solved problems or anything else. If it wasn’t affordable, people wouldn’t be able to buy it.
When the first indications came that the price was too high for the targeted customers, the artist/inventor sought out a new customer demographic. But the same thorough process of identifying the initial targeted customers wasn’t evident in the targeting of the second customer group. Time was wasted. Sales languished. Frustration ensued and things started to fall apart. The focus of trying to find a new customer base that could afford the product/service was like trying to fit a square peg into a round hole. Things simply didn’t line up. The newly targeted customers had a different set of problems. Chasing those problems meant starting over and throwing the baby out with the bath water.
Luckily, the artist/inventor – that’s me by the way – realized that this approach was stupid. And admitting that is not something that comes easily to anyone. Indeed, it can be a source of why a company fails. Who wants to look in the mirror and say: “Hey knucklehead, you are really doing something stupid!”. It was painful at first, but then it was like suddenly finding the right path out of the dark and foreboding forest. The mission wasn’t finding a new customer base. The mission was coming up with a way to make the products and services affordable for the intended customer!
This seems such a simple and logical thing to realize. But in fact, this was extraordinarly difficult to appreciate and realize. It is easy to become distracted and go off course. It can end your dreams, as it nearly did mine! Admit your mistakes and get back on track!
So, how does this story end?
With the next blog post, I will have a MAJOR announcement! Oh, and by the way… Check out the new website! http://amped3d.com