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I was reading another blog today, and it gave me an idea for a rant. The issue being discussed was whether or not you should start a business during a “bubble”.
My response was that it doesn’t matter what the economy is doing. What matters, is what value you have to offer your marketplace. Customers will buy value, because they need it, regardless of what the economy is doing. If you can offer value to your customers, then now is the time to offer it.
Whenever you are starting a new business, and fairly regularly when your business is operating, you need to review your value proposition. What value do you offer, what are the circumstances under which it is normally purchased, how does your value compare with the value expectation of your customer? These are the things you always need to be thinking about.
For me, with my free New Online Business Videos, I train people that are getting their business started. The most important training is offered free of charge. By supporting people who are in the early stage of starting their online business, probably at a time when they are low on capital, I provide them with a better chance of success. The fact that they use my training to get started in their business, they are more likely to look at the products I charge for, when they need more advanced training.
What is your value proposition?
