How to figure out who your ideal customer is (the one you can profitably serve)

If you try to be all things to all people, you will become nothing to everyone.

You must figure out who your ideal customer is – the one you can profitably serve.

This is what is meant by “positioning”.

The Money Show’s Bruce Whitfield interviewed Aurik Business Accelerator’s Pavlo Phitidis for his weekly small business feature.

Phitidis gave advice on getting your business’s positioning right.

It's critical because, with limited resources as a growing business, you have to focus your efforts to maximise your impact and build your momentum.

For more detail; listen to the interview in the audio below (and/or scroll down for quotes from it).

It’s especially difficult in the tech industry to get your positioning right.

Pavlo Phitids, Aurik Business Accelerator

Start by creating a definition of the product, but not in detail…

Pavlo Phitids, Aurik Business Accelerator

Understand your product as it is right now…

Pavlo Phitids, Aurik Business Accelerator

What problem does the product solve?

Pavlo Phitids, Aurik Business Accelerator

Click here (then“like” the page) to follow Bruce on Facebook.

Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.

Subscribe to our Business Wrap Newsletter

Article brought to us by Old Mutual.


Recommended

by NEWSROOM AI
Read More
'Getting people out of their homes and into a restaurant is challenging'

'Getting people out of their homes and into a restaurant is challenging'

Spur Corporation says it has experienced some pressure as customer spend is limited due to a slowing economy.

Steinhoff's R53 million penalty is still the highest paid fine in SA - FSCA

Steinhoff's R53 million penalty is still the highest paid fine in SA - FSCA

The company which was initially slapped with a R1.5 billion fine is now required to pay R53 million.

What is better - money in the bank or investing in shares?

What is better - money in the bank or investing in shares?

Personal finance expert Warren Ingram offers a definitive answer with an explanation ordinary people can understand.

10 unexpected things that most truly rich people have in common

10 unexpected things that most truly rich people have in common

Personal finance expert Warren Ingram on the money values that those "worth" R40 million or more almost invariably have in common.

Jeremy Mansfield gets real about his money and beliefs about it

Jeremy Mansfield gets real about his money and beliefs about it

Bruce Whitfield interviews Jeremy Mansfield about his attitude to money (hopes and fears, successes and failures, etc.).

'We had a disdain for money. Material possessions counted for so little'

'We had a disdain for money. Material possessions counted for so little'

Justice Albie Sachs talks about his attitude to money (hopes and fears, successes and failures, etc.).

Popular articles
[WATCH] Young boy's school concert dance moves delights Twitter

[WATCH] Young boy's school concert dance moves delights Twitter

Khabazela shares tweets and Facebook posts that have gone viral.

What is better - money in the bank or investing in shares?

What is better - money in the bank or investing in shares?

Personal finance expert Warren Ingram offers a definitive answer with an explanation ordinary people can understand.

KZN bishop Timothy Ngcobo stands by xenophobic remarks

KZN bishop Timothy Ngcobo stands by xenophobic remarks

The well-known religious leader has allegedly been put under surveillance by KZN police for fueling xenophobic sentiments.

[WATCH] Man amazingly catches flying phone while on roller coaster

[WATCH] Man amazingly catches flying phone while on roller coaster

Khabazela shares tweets and Facebook posts that have gone viral.

EWN's Barry Bateman caught on camera calling Julius Malema a  P***, EWN responds

EWN's Barry Bateman caught on camera calling Julius Malema a P***, EWN responds

Twitter was abuzz after EWN reporter used the P after a press briefing with Economic Freedom Fighters leader.

'Data doesn't support that foreigners are grabbing jobs from South Africans'

'Data doesn't support that foreigners are grabbing jobs from South Africans'

African Centre for Migration Studies' Dr Rebecca Walker says lack of governance is the main issue, not immigration.

Nando's response to Pick n Pay 'iNkukhu' advert has social media in stitches

Nando's response to Pick n Pay 'iNkukhu' advert has social media in stitches

Khabazela shares tweets and Facebook posts that have gone viral.

Nigeria calls for sanctions against South Africa

Nigeria calls for sanctions against South Africa

"Enough is enough," said the Nigerian government in an official statement.