22 - Obsess Over Your Customers

   Description Matt and Toni talk with Brandon Kruse about the importance of obsessing over your customers. Highlights (00:58) Matt and Brandon explain how a “sure thing” doesn’t exist even though it appears that way to an outsider. (3:18) Vetting opportunities is hard. Entrepreneurs tend to be optimistic and tend not to share their real struggle running a business (and few really want to hear the details of your problems). (6:45) Brandon explains how he always looks for an unfair competitive advantage over the competition (as he wisely assumes that they can execute better than you can). (29:50) Matt explains how he didn’t have t-shirts for Absolute Nutrition for years because he couldn’t make a decision and the printers weren’t very helpful in guiding him (now he owns a printing business and guides customers thru the design/selection process). (34:35) Brandon talks about how he really stays obsessed with the customer and their pain (point) so you can come up with a good solution (which they won’t solve on their own). Summary Toni and Matt sit down and talk with Brandon Kruse about the importance of obsessing over your customers. Looking from the outside, it often appears like a lot of ideas are a “sure thing” and that customers will flock to your great idea once you just get it built. In reality, that’s absolutely not the case as it takes tremendous effort to attract and drive customers to your business. Almost every retail entrepreneur has their personal story about how they had almost no customers at all in the first few months of opening a physical storefront. Vetting opportunities is harder than it may appear especially when talking with other entrepreneurs as they are inherently an optimistic bunch that don’t voluntarily divulge their real ongoing struggles with running their own business. When you do learn and adapt in ways that do attract your initial customers, it is essential to obsess over them as the cost of acquiring them is significant and they often are your best sales force in the modern era of social media (where good and/or bad customer experiences spread like wildfire). A good entrepreneur obsesses over their customer and their biggest pain points to come up with a better solution that solves the pain. Continually iterating thru this process leads to continuous improvement and a virtuous cycle for your business. Never forget that your customers are what allows you the freedom to work as an entrepreneur in the first place.    Links - (Harvard Business Review0 Obsess over your customers https://hbr.org/2017/05/obsess-over-your-customers-not-your-rivals - (TED) I was seduced by exceptional customer service – John Boccuzzi, Jr. https://www.youtube.com/watch?v=GH1TXfQSwUQ Books - Built to Sell – John Warrillow https://www.amazon.com/Built-Sell-Creating-Business-Without/dp/1591845823 - The Toyota Way – Jeffrey Liker https://www.amazon.com/Toyota-Way-Management-Principles-Manufacturer/dp/0071392319 - What Customers Crave – Nicholas Webb https://www.amazon.com/What-Customers-Crave-Experiences-Touchpoint/dp/0814437818 - Be Our Guest (Disney) – Theodore Kinni https://www.amazon.com/Be-Our-Guest-Perfecting-Institute/dp/1423145844