As business owners we hope to identify clients who will use our products and services for a long time. In order for us to do that we need to understand how our client’s needs change as their business matures. We have to ask ourselves do we need to change or do we just focus on them on only one stage of their business.
This post developed as I learned more about the fantastic Black Marlin fishing in Australia. My whole life I have dream of traveling there and fishing outside of the Great Barrier Reef for grander Blacks, but recently a whole new fishery has developed. Shallow water fishing for juvenile blacks on light tackle.
Check it out https://www.youtube.com/watch?v=5GSaZ4xeJ9Y
Black marlin on the flats, unfreaking believable.
This brings us to the post, if you developed your business to fish for these young marlin, should you adapt to fish for them when they are adults? Or vice versa?
Both bring in people from around the world, the skill sets are very similar, but the equipment etc. is way different, is it worth it?
Answering the Tough Questions!
As a business owner this is where you need to decide if you are going to be a specialist and what you are going to specialize in. Is it worth it to invest in different equipment to satisfy your customers’ needs, will they continue to buy from you once they mature?
This is why having a real understanding of your business financials, your industry trends and forecasts come into play.
So who are you going to fish for? And why? This is the question you need to constantly be asking yourself and your team.