The paradox of early customers
The paradox of early customers
Good to think about
1. "I'm just getting started, and no one knows my business," is a common source of self-reassurance for many budding entrepreneurs. It's often believed that finding the first few customers is the challenging part, and acquiring the hundredth or thousandth will be a breeze.
2. In reality, it's quite the opposite. The initial customers are often easier and more cost-effective to find. These early adopters, often referred to as “pioneers,” are naturally drawn to innovative ideas. They respond eagerly to advertisements, answer calls, and are keen to try new products. If your target audience belongs to the corporate world, pioneers are the ones attending industry events, staying up to date with trade news, and exploring fresh solutions.
3. However, things get tricky once you've exhausted the pool of pioneers. This phenomenon isn't limited to startups; it's a universal challenge. Think about the smartphone industry for example. Early adopters, those individuals who can't wait to get their hands on the latest device, swiftly embrace every innovation. Entrepreneurs often boast about their rapid success in acquiring the first wave of customers. Yet, they soon hit a roadblock as pioneers start looking for the next big thing. Convincing the more sceptical, late-adopting customers however is an uphill battle.
4. The bottom line is clear: if you can't effortlessly attract those initial customers, it might be time to reconsider your target market and if you do manage to bring them in quickly, don't rest on your laurels. Acquiring those initial customers is a significant milestone, but remember, it's just the beginning.
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