Seth Godin explains why you need to choose your customers before you choose your product or service:
It seems obvious, doesn’t it? Each cohort of customers has a particular worldview, a set of problems, a small possible set of solutions available. Each cohort has a price they’re willing to pay, a story they’re willing to hear, a period of time they’re willing to invest.
And yet too often, we pick the product or service first, deciding that it’s perfect and then rushing to market, sure that the audience will sort itself out. Too often, though, we end up with nothing.
I talked with George Gaumer, outgoing vice president and general manager of commerical landscape services at Davey Tree Expert Co. about this just last week, and he drew this handy chart for me. (This is a facsimilie; George has much better handwriting.)
The idea is that you can offer new services to your current customers, and offer your current services to new customers, but offering new services to new customers gets you skiing out past your tips.
We covered these topics extensively in our February Grow the Market report. Read it here.