My top tip for new business owners is to get crystal clear on WHO you serve. A lot of people start with their product or service and then try to fit it into a particular market. This is like trying to fit a square peg into a round hole. Instead, you should start with your market. Figure out the type of person you’d like to serve and ask that person what he/she needs. From there, you can build your products and services. For example, my business exclusively serves financial advisors. All I have to do is approach financial advisors and ask them which products and services they would like to have. Then, I create them and sell them.
James Pollard is the founder of TheAdvisorCoach.com, a website which specializes in helping financial advisors get more clients.