While there are infinite and varying possibilities as to why your business could fail, there are just three that will all but guarantee it.
1. Your business doesn’t provide something people want
It seems simple – sell something people want to buy – so why do so many businesses flounder at the first hurdle? It’s all very well wanting to come up with ‘the next big thing’ but if there’s no market for it then what’s the point?
In some ways exactly what you’re offering doesn’t matter at this stage. What does matter however is that it either solves a problem, makes people happier or it takes away something negative. For extra bonus points, it might even be able to hit all three! If you don’t believe me, Facebook is a great example. The social network solve a problem by connecting you with people you don’t see every day, makes you happier by entertaining you and removes the negative of having to actually speak to people in real life (come on, you know it’s true!)
You might think your new product or service is genius, but unless it adheres to at least one of these fundamental needs, it’s going to fail. Why? Because your idea is worthless without customers who actually believe in it and would part with their hard earned cash to get it. Is your idea something people actually want? Have you seen a demand from your target market and spoken to people (other than your mother) and had a positive response? The value in your product can not be determined by you, it has to be determined by your customer. You can’t base a business on what you think people want, a successful business must be based on what a customer actually wants (whether they know it yet or not!)
Think about your own business right now. Are you offering something that solves a problem, makes people happier and/or removes something negative? If you’re answering yes but your business is still failing, it might be time to move onto point number two.
2. Your business isn’t reaching the right people
It’s all well and good having the most amazing new idea or product, but if no one knows it exists then who do you expect to actually buy it?
After a blissful few days in Portland, it was time to hit the road and fly down to Los Angeles for the next stop on The Blogcademy world tour. I’m not gonna lie, I’ve visited LA once before and didn’t really fall in love with it, but I was looking forward to experiencing it with my girls and seeing if my mind could be changed. I mean obviously the weather made it much more bearable, it was a scorching 25 degrees a lot of the time which was rather blissful, especially when hearing that it was snowing heavily at home!
The thing that drives me crazy about LA is all the damn driving. The city is so spread out that if you’re car-less (as we were) and in the wrong neighbourhood you’re a bit screwed. Luckily we discovered an amazing ride sharing service call Lyft and we stayed in a loft just in the heart of Hollywood, right in the middle of the action. Although it was noisy at the weekends, it was the perfect location for us as it was just a short car ride to our workshop space, McCaddenSpace Studio.
Unlike a lot of LA, there were also plenty of things to do in our neighbourhood that were walking distance. Gala & I quickly became obsessed with the juice bar that turned me into a green juice addict and all three of us agreed that Tender Greens needs to move to our respective cities, like, now. There was a Frog frozen yoghurt stop (yes, the same chain as Snog here in the UK!) and an Urban Outfitters where we stocked up on all our rainbow film!
The workshop fell on my birthday weekend and I was excited to spend it with some many inspiring babes. They spoilt me with unicorns, flowers and yummy cakes!