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Small Business, some thoughts ...

Relevance is the Key

relevance

Welcome to my geeky blog post~
It contains no pictures beautiful / cute / amusing stuff
What it contains is this epiphany that struck me yesterday night, that:
Relevancy is the thing that can make or break your business.

1.
All best selling products, books, music albums, movies, etc. sell so well because they are relevant to the purchasers’ lives. Likewise, all popular celebrities, writers, athletes, etc . . . gain their popularity because they are also relevant to the their fans’ wishes, interests, and (psychological and sometimes also social) needs.

  • Some novels sell so well because they pander to their readers’ fantasies.
  • Some notorious celebrities gain their fame because they are the kind of persons some groups of people love to hate
  • Some pop artists gain their popularity because their lyrics resonate with their fans.
  • Some products (gadgets, cars, and even laundry detergents) sell so well because they function so well.
  • Some other products sell so well because they promise to help people to loose weight / look smarter / etc.
  • Some snacks/candies/gourmet chocolate sell so well because their customers see them as comfort food, or things they can treat themselves with for jobs well done.

I can go and on, but I’m sure that you’ve got the gist, that:

  • People buy something that fulfills their (physical, psychological, and -sometimes – even social) needs & make their lives easier.
  • People admire celebrities whose lifestyle/fashion style/attributes they admire/fantasize about/and aspire to have.
    • Celebrities gain popularity and more money (through product endorsements) by staying relevant to their fan bases (who might purchase the items those celebrities own &/or endorse.

2.
Relevance . . . you see  . . . depends on what other people are looking for . . . If your work is what they are looking for, then you are relevant. Otherwise, you aren’t.

Source: Lifehack

Source: Lifehack

So, how do this affect small businesses?
How can small businesses gain relevancy?
It depends on the kinds of business we run, the kinds of products we offer, and the kinds of people we consider our ideal customers . . .
But . . . it always starts with knowing:

  1. The kinds of people who might be need the kinds of products/services we offer
    1. Starting with identifying our ideal clients wouldn’t work so well if we are not able to offer anything they might want.
    2. It’s almost like forming a new friendship . . . we can’t be friends with people we have nothing in common with, especially the ones who do not like us, aren’t interested in what we do, and do not want to have anything to do with us).
  2. Next: We need to find out the specific things things they need . . .and, we need to find ways to fulfill their needs.
  3. And . . . the (maximum) amount of money they are willing to spend for the kinds of stuff we are able to offer.

In other words, self-centered (small) businesses & (independent) designers who focus on nothing but what they want to achieve/create/sell might never make it.

  • Someone who designs a super awesome (and pricey) piece of non-precious jewelry some people might want/covet but have no occasion to wear it to might never make it; especially if the piece isn’t precious enough for the kinds of people who are able to afford it.
  • Someone who designs super awesome dresses that most people find not-very-wearable might never make it, especially if s/he isn’t very connected with entertainment industry people, have a lot of money to pay celebrities to wear his/her design, or unbelievably lucky.

None of these might sound new to some people; but, for me  . . . it’s a much needed wake-up call.

And now, I have to find ways to apply this principle on my merchandising & product development strategy.

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