The Most Important Question For An Entrepreneur #businessowner #entrepreneur

When I talk to business owners or entrepreneurs or people that want to be entrepreneurs, I ask them to consider these things first. Who's your target? Answer this in two ways. One, who's your target market? What are the people that you're going after? And then once you can describe who your target market is, dive a little bit deeper and figure out the actual person. Can you define your ideal customer? What does your target Persona, the target person prospect that you're going after? What is it that they're looking for, what is their experience, who are they, what's their life like, etc. Number two, what's the market size? How big is the market? Does your market have money to spend? There are some markets where it's very hard to get them to spend money and I've seen quite too many businesses actually be started in areas where the target market does not have money and that's just a bad idea.