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2.3 Who will your business sell to?
Any business cannot succeed without customers. Therefore, it is essential that you know who your customers
will be. Will you sell to a specific type of customer or to everyone in an area? There must be enough people who
are able and willing to pay for your goods and services or the business will not survive.
I know that there is a
demand for good leather
bags as there are no
stores that sell them
in my area. But should
I target students or
working professionals?
Refer to the cases of Janet and Lily:
Janet had no idea who
the end customers of
her sunflower oil might
be. She just focused on
producing the oil and
thought that the shops
will buy it from her.
Therefore, she did not
know how big the need
was for her good. She also did not know if there were
any competitors who were going to fulfil the same
needs of the customers.
Lily knew that her
customers will be
teenage girls in her
area. She researched
the market by observing
the clothes shops and
the target customers
to make sure that there
was a real need that
she could fulfil. She also knew that there was no
competitor currently filling that need.
PART II | A market is waiting for you | 17