No matter the business, getting P.A.I.D is required.

“I have plenty of ideas of what I ‘think’ they want, based on me and my circle of like minded friends…”

That’s actually a really good start if these friends fall into your target market.

I find that if they relationship is in place, your community will readily tell you. All you have to do is ask (i.e. send out a survey, ask them to reply to an email with a simple question in it). In fact, eventually they just start telling you even when you don’t ask.

Nice, I like the simplicity of it. However, step 3 is really the key. Getting your community to tell you is the hardest part. Promotions? Giveaways? Contests? What has worked best for others?

I have plenty of ideas of what I ‘think’ they want, based on me and my circle of like minded friends, but getting the community to speak up is a lot harder than it sounds.

Keep it up!

Feel free to mention it when teaching. Of course, I would appreciate being credited for it.

@Ven,

Understanding the competition and positioning yourself accordingly is definitely important. That is part of the process in step #1 (pinpoint your market).

In fact, that is why I use the word “pinpoint.” It connotes a need to be focused and narrow enough that you can stand out as the #1 person in your market as you define it.

Thanks for that input.

I like that P.A.I.D – great way to simply the steps. I might borrow that in a teaching if you don’t mind :)

You’re right that Step two can seem tricky (and that’s why it is often skipped…to the detriment of many businesses).

However, we have more tools today than ever to attract a targeted community of loyal customers. Even better, many of these tools are low/no-cost.

True, it takes time. But it doesn’t make it difficult. It just takes patience. The long-term payoff is huge.

The secret is to start now and work at it consistently, even just a bit of time each week.

Has anyone ever really discussed how to build a community on a small budget. If you have money to advertise then step 2 doesn’t appear to pose too much thought. Those who are limited on how much they can spend on advertising usually get stuck at step 2.

The principals are definitely sound though.

Adding to this, you must analyze and understand the business competition. This helps to take the appropriate actions in each stage of the business because you need to stand out from the competition. Again that depends on the market that you are selecting, if it is a popular market then for sure you have to face a big competition. Also, delivering QUALITY solution automatically helps to beat the competition.

-Ven