It’s no secret that business success today revolves largely around people, whichever way you look at it. ‘All of us’, Malcolm Gladwell once taught, ‘gravitate towards things that mean something to us, and for most of us that is people’. All business is people business.
First, the people you serve – your market. Then people who work with you – the team you build, and the people that you work with – your strategic business partners you collaborate with. People are everything, and they are your critical business partners.
Let’s take a brief look at how these partners are central to your business success in 2024.
The people you serve
Business is a means of touching lives in a way that tells your market (customers) that you understand their needs, expectations, and wants and that you are willing and able to meet those needs like no other. This will become very significant in 2024.
Customers are always attracted to businesses that demonstrate that they understand their problems, and have created remarkable ways to address them.
When a customer goes out looking for a product, he doesn’t care how much you know about the product, he only cares about himself – his time, his feelings, and his money. The customer does not care how good you are but what is in it for him or her.
After all, there are so many choices available to the customers. To use your product, they have to fire someone else. The customers wouldn’t want to settle for anything less than what they want. Instead of less, they always want more of what would address their immediate and future needs and expectations in 2024.
Your ability to know what your customers need, meeting those needs, and your relationship with your customers could be your utmost competitive advantage. Customers are meant to be taken care of, and those who look after them the most win and keep them for life.
Being superior in product knowledge but inferior in the market’s knowledge will produce minimal results. Always take the time to listen to both your customers and prospective customers to find out what they actually care about.
Without your market (customer), your business is dead. You are in a partnership business with your customers, no matter what you do and where you do it. So, quit the business you think you’re in right now (whatever it is), and get into a working partnership with your customers. That’s where the real game is in the new economy.
Your customers do business with you not because you are the best, but the preferred. They like you and enjoy the rapport they have with you. Without a scalable path to customers, even the best products die a silent death.
Your customers are your best and biggest investors. In case you may have forgotten, an average customer has a huge lifetime value. Your business success can only grow when you recognise your customers as the investors that they are, and the value they bring to the table.
You are in partnership with everyone who touches the business. If there are critical stakeholders you have in business, your customers are the number one. They work with you to make your business successful.