MBA1184 What Customers Really Want

Let me tell you about Intuit QuickBooks. When I was starting out my business, I remember sitting at my desk late at night not working on my business but cleaning up numbers, tracking and reconciling payments and wondering how this became my life. But once I automated the admin side of things of my finances, those nights had disappeared and I felt a whole lot better. Outdo it with intuit QuickBooks QuickBooks is the trusted end to end solution that businesses rely on for getting paid, managing finances, paying employees, finding new customers, and more. QuickBooks provides a team of AI agents and trusted experts, so doing it yourself no longer means doing it alone. Their payment agent gets you paid faster, their customer agent finds leads, follows up and secures more sales, and the accounting agent automates and categorizes transactions. Get your critical business jobs done with QuickBooks on the Intuit platform.

Ready to save on new tech? It's time for Dell Tech Day's annual sales event celebrating our customers with fantastic deals and benefits. Product perks include Dell Rewards, free shipping, premium Support and more. PCs like the Dell 14 with Intel Core Ultra processors will help you do more faster and with a premium suite of monitors and accessories, you can upgrade your whole setup with amazing savings. Visit Dell.com deals.

Hey O welcome to The Hunter, the $100 RBA show, the business podcast that gives you more than you bargain for every single day with our daily 10 minute business lessons for the real world. I'm your host, your coach, your teacher Omar Zenholm. I'm also the co founder of the Hundred Dollar mba, a complete business training and community online. And in today's lesson you will learn what customers really want. When you're building a business, when you're creating your products or services, you often get lost in the process of trying to build this thing and make it happen and forget to answer an essential question. What do my customers want? Well, I'm going to give you that answer in today's episode. This is going to help guide you and help you stay focused on building something that's going to make money that people are willing to pay for. There's nothing worse than working months on end building something, launching it, than realizing, man, I'm not sure people want this. So in today's episode we're going to define what exactly your customers want and how to deliver so you make sure you increase the likelihood of success for your business. We're nothing without our customers, so let's make sure that we deliver for them. So let's get into it. Let's get down to business. One of the biggest mistakes entrepreneurs make is that they focus too much on building their business, their product, their procedures, and not enough on what your customer wants. At the end of the day, you need people to be happy. You need to serve people, enough people to keep your business alive. This is why some of the oldest businesses around, if you just look around your own neighborhood, are very simple businesses. They're not complicated because they serve needs. There's a little Turkish fast food spot right up the street from me that's been around for ages. Why? Because they know what our customers want. They want fast, easy, convenient, cheap food they can eat late at night when they're out and about with their friends. They don't try to get fancy. They don't try to overcomplicate things. They give people what they want. And that's why they've been around forever and will probably continue to be around forever if they continue to do this. So we're going to take a look at your business right now. Take a look at what you offer. Whether it's a product, a service, whether you're a coach, whether you're a consultant, whether you're in software, whether you're selling a course, it doesn't matter. Take a look at what you actually sell and answer this question. What problem does your product, your offer solve? What does it solve? As an entrepreneur, you're in the problem solving business. That's what you do. You solve problems for people. You help them get over certain things that they're struggling with. And struggle is a bit of a loose word. You might be an online piano teacher and you're giving one on one courses via video chat. The problem you're solving is that people want to learn how to play the piano quickly. There's other solutions out there to learn the piano. They can just try to learn by themselves, read books. They can take online courses, but they take that product, you know, the online coaching, because they want to do it quickly. They want to do it with as minimal pain as possible. Let me say that again. Customers want to solve their problem with as minimal pain as possible. That's all they want. Look at anything you've bought in recent history. Why did you buy it? Because it was solving a problem and it did so with minimal pain. Now, minimal pain can be relative to your market. So for example, let's go back to that Turkish restaurant I was talking about, that fast food restaurant. I'm going to be walking down the street, I'm hungry. I want to solve this problem. I want to cure My hunger. I see this Turkish place, the menu is easy to read, the prices are very low. Makes it super simple to solve my problem. Doesn't mean your product has to be inexpensive. Call up your favorite airline and choose the option to book a business or first class ticket. Go through the motions and see how easy it is. It's a total different experience than when you're booking an economy class ticket. What problem are they solving here? Well, if somebody wants to get the point A to point B as comfortably as possible, so they're going to book, you know, a first class ticket. Let's say, for example, the booking process is easy. When they get to the airport, they have their dedicated line.

They don't have to wait in line.

They have express boarding. They're treated like royalty. It makes the whole experience easier. So you see what I'm saying? People are willing to pay money to solve a pain with minimal effort and maximum ease. So you're going to take a look at your products and services and ask yourself, hey, what problem do I solve and how do I do it? So my customer feels like this is an easy process, this is not a painful process and that they can do it. That's really what they want. They see that clearly on your website through the transaction of buying your product. They're going to buy, they're going to go ahead and do it because, hey, it's a no brainer. Where we fall short as entrepreneurs is that we don't make it easy and we don't make it clear how we solve the problem. More importantly, right? People want to know, hey, is this really going to help me? Is this really going to solve the problem that I have? Take a look at companies that do this very easily. They know that it's hard to acquire customers, so they want to make it as easy as possible for them to just give them a try and buy from them once. A good example of this is Uber. You'll see Uber billboards all over international airports, everywhere. Local airports as well. Most of these billboards clearly show you how easy it is to use Uber, how convenient it is. It'll say something like get to the city center for $15 or 15 krona or whatever it is. I've even seen a sign that says get to the city center for free. Right, because your first ride is free or something with Uber. And then it shows you how easy it is to download the actual app on the phone. Uber does something very interesting. Instead of just saying, hey, we're available on the Apple Store or the Android Store, they also put a link because there's some people out there that are not familiar with app stores. They have a smartphone, but they really just use it for messages and calls and Instagram. And they'll put a link that will link to the download link in the app store for that app for Uber. So the billboard is clearly showing them, hey, you have a problem, you need to get out of the airport and into the city. We can solve that problem. In fact, we can solve it for free or at an extremely discounted rate. And this is how you do it. You can get started by just going to this link or just downloading our app. How easy is it for your customers to get started with your product or service? Do you offer a risk reversal? Do you offer a free trial? Do you offer a free 20 minute coaching call to see if you're a good fit? You gotta solve the problem with ease. That's all they want. This is why a lot of people sell their physical products on sites like ebay and Amazon. Because they don't want to build their own infrastructure, they want to build their own stores to make it easy for them to buy. Right? They can definitely do it. And it's going to take a little bit of work. They could use something like Shopify. That makes it super simple, but they can also just do it on ebay or Amazon because they know that people find it easy to buy off those platforms. So your assignment right now is to write down what problem you solve and you should be able to say this in one or two sentences, maximum. And how do you solve it? With minimal pain and maximum ease.

If your team isn't using ClickUp, you're wasting time. And data proves it. 61% of knowledge workers manage work more than doing it. Switching apps a thousand times a day, that's work sprawl and costs millions. ClickUp replaces 20 apps with convergence, uniting projects, docs and chats while AI super agents handle the busy work. Join 4 million teams using ClickUp to finish work 30% faster, try it free and get 15% off AI upgrades at ClickUp.com podcast. That's C-I C-Kashp.com podcast Looking for a Valentine's gift she'll truly love? 1-800-Flowers.com knows what she wants. For 50 years, 1-800-Flowers has helped guys like you get it right, delivering millions of fresh Valentine's roses nationwide. 1-800-Flowers offers premium fresh cut flowers backed by their seven day freshness guarantee plus same day delivery when you need them on time. Valentine's is coming up, and bouquets are selling fast. So don't wait on this order today at 1-800-FLowers.com sxm. That's 1-800-FLowers. Com sxm okay, now that you know.

Your assignment, you're gonna take a look at your business. How people actually buy from you on your website is usually the case here, right? So you're gonna take a look at your website and ask yourself, am I making it clear on my website that I solve that problem that I wrote down? Am I explaining how I solve the problem? Am I explaining how easy it is to solve it? Am I making it easy for them to get started? I've been on websites where the buy button is only located one place on the homepage, and there's no other buy button on the whole site. Put that buy button in the header of the website so it's on every page. Put it throughout every page so it makes it easy for them to click and and head onto the checkout page if they're interested in buying. Make it easy. Don't make it painful. In the process of checking out, try to collect as minimal information as possible to make it faster for them. Make it easy for them. If there's information that you can collect after the sale, go ahead and do that. And once they buy, do they know what the next step is? Some of us, we just drop the ball here. We just say, okay, they bought. That's it. They're a customer. Move on to the next person. I want to make a customer. No, you got to hold their hand onboard them. Make sure they know what to do next. To be successful with your product or service, this is where you win them over. This is when they continue to become a customer and buy from you again and again. Customers want an easy way to solve their problem. Thanks so much for listening to today's episode. I hope it was helpful if it was. Leave us an itunes rating and review and let us know. And don't forget to hit subscribe on whatever app you're using right now to listen to the podcast. Whether it's Spotify, Apple podcasts, Stitcher, radio, overcast, we're on pretty much every platform. By hitting subscribe, you never miss a beat. You get all our episodes automatically right to your device. Before I go, I want to leave you with this. It doesn't matter what your product is. The process of purchasing your product needs to be easy. It needs to be easy to get started. Look at a company like Tesla. Buying a Tesla car is not cheap. It's very expensive. It's six figures in some cases, but go ahead and go through the process of buying one. It's as easy as buying an iPhone. Okay? It's super simple. You click a few buttons, you customize your car with a few selections, you use a credit card to put down a deposit, and you go pick up your car. It's that simple. If a company that's selling a complicated product like a car in a highly competitive space and a product that's not exactly cheap, you can do it with your products and services. You can make it super simple. And it has nothing to do with technology. Has to do with design and making it easy for your customers, having this as a principle in your business. All right, I'll check you in tomorrow's episode Q and A Wednesday, where we have a very interesting question from Jules asking, should I share my religious beliefs as an entrepreneur? We get into that in tomorrow's episode. I'll see you then. Take care. Of.

At Capella University, learning the right skills could make a difference. That's why our business programs teach you relevant skills you can take from the course room to the workplace. A different future is closer than you think with Capella University. Learn more at Capella Eduardo.