Saturday, February 21, 2015

Week 6 Entrepreneur Journal Update

Customer Focus

This week was all about customer focus.  Smart business is good business.  Smart business means doing less for more.  Keeping customers is far easier than finding new ones, and the financial rewards are up to five times greater.  To do this you must know who your customers are and target those customers according to what they want.  As you hit this target consistently you will retain more and more of your customers and profits will continue to rise.  Finding out your customers wants can be as simple as asking them.  "What is it we can do better?"  "How much would you pay for this product or this service?"  "Why did we lose your business?"  Find out what it is your customers want, and hit that target.

$100 Challenge

This week I purchased materials for the portable cell phone charger which I hope to be getting next week.  I have written up instructions and just need to get the materials to build it.  I am nearly finished with another project that has taken some time, "Self Watering Bottle Planter."  The instructions are written, it has been built, and nearly all the pictures are up.  I started this one three weeks ago, and just need to wait for the plant to grow.  It sprouted a couple of days ago so I will give it another couple of weeks to finish up.  Next week I also plan on starting "How to Build a Survival Crossbow."  I'm expecting this will be a big one and am excited to get started on it.

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