True or False – Find a Need and Fill It?
You’ve heard it before – to succeed you need to find a need and fill it. But is this old adage true? Well, yes and no.
When you started your business you did research to determine who your customers are, why they buy, and how many people or businesses need what you sell. Obviously, if no one needs what you are selling there is no point in continuing. However, there is a more critical question than “do enough people need what you are selling.” Do people want what you sell? This is one question you must answer before you consider opening a business or adding a new product or service. It isn’t a matter of whether people need your product or service; the question is, do they want it?
Just because people need something doesn’t mean they want it. We all need an estate plan. If you die without an estate plan, the laws of the state you live in determine how your assets and worldly possessions will be distributed, and to whom. What the state determines may be quite contrary to your wishes. If people need an estate plan, why do so many never get around to setting one up? I’m sure you can think up a lot of reasons and excuses, but it all boils down to the simple fact that they don’t want it, or they don’t want it right now, or they just keep putting it off.
Do people buy products they want but don’t need? Of course, all the time. I asked a guy how he liked the fancy convertible car he drove. He responded, “the car’s a piece of crap but I look really good in it.” Do you “need” an $80,000 pickup truck or will a used $20,000 pickup do the job? People make all kinds of rationalizations as to why they “need” something but the truth is they want it so they make up reasons why they need it.
On the TV show Shark Tank, entrepreneurs seek an investment from the “Sharks.” When the Shark investors ask about their sales, they often answer “We haven’t sold any yet,” or “Over the past two years sales were $5,000.” The Sharks’ response is typical, “You haven’t proven that anyone wants your product.”
Brad Tholen, Owner, Horizon Home Inspectors, provides a service people both need and want.
The old adage “find a need and fill it” doesn’t go far enough. A more comprehensive mantra would be
Find a want and fill it
When you find a product or service that people both need and want you’ve hit the jackpot.
“The fact is that people never buy what they need. They buy what they want.” – Charles Kettering