👨🎓 SIBG Pt. 1.0 - The Set Up Stage
At its core, the Set Up stage of business involves research, hypothesis, testing and iteration.
Specifically, around three foundational elements:
- Who is your ideal buyer, aka your Customer Avatar?
- What is your USP - meaning, what's the thing that sets you apart from the competition?
- What is your most effective go-to market strategy, i.e. how are you going to reach your buyers?
Unless you've figured out the answers to those three questions, everything you might try in order to systemise or automate or grow your business is likely to results in wasted time or wasted money.
A prime example is advertising:
It's very common for people to have a great offer and a view of a market that needs it, and then decide to run an advertising campaign.
In theory, a great go-to market channel.
But wait up, partner:
If you don't know yet with accuracy and precision who your ideal buyer is... how are you able to target the right people?
How will you make sure your ad spend gives you ROI, instead of falling into a black hole and becoming a net loss?
Or if you haven't figured out what your USP is, and you're not yet able to state with clarity and conviction why your offer is more suitable than that of your competitors...
How likely is your buyer to select you, instead of someone else?
This is why it's so important to have your ingredients in place, before you move on to ingredients that belong to a new stage.
So with that said, let's start by looking at ingredient 1 in the Set Up stage - let's figure out who you should be marketing and selling to.
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