Last year, a new bakery opened in our town.
Imagine the best pastries you have ever tasted...
The pastries at this new bakery are at least ten times better.
The owner is an acclaimed pastry chef, and she uses only the very best ingredients.
Everything is handcrafted and made with love.
No shortcuts here.
Just the best pastries ever!
The bakery closed last week on its one-year anniversary.
It wasn't supply chain issues.
It wasn't a lack of demand.
Down the street, a drive-thru coffee kiosk with mediocre coffee and stale pastries was booming.
Why did a Michelin-star-level bakery fail while the mediocre coffee kiosk boomed?
The bakery was located on the south side of the busiest street in town.
If you wanted a cup of great coffee and the best pastry on your way to work, you had to drive past the bakery, do a U-turn at a very busy intersection, and get out of your car to grab your breakfast.
When you got back to your car, you had to do another U-turn at the busy intersection to restart your journey to the office.
The coffee kiosk is on the north side of the busiest street.
Easy access to a cup of coffee and pastries without leaving your car.
The bakery had a superior product, but their location eventually killed their business.
It's a reminder that you need a product or service that is in demand AND you need to make it easy for your customers to buy.
In a nutshell, to be successful in business you only need two things.
- You need to have a solution to a problem people are having right now (your offer)
- You need to let people know you have a solution to their problem (online traffic)
Of course, we could go a lot deeper, but these two things are all you need if you do it right.
Next week, we're going to live, deep-dive market research on our Rapid Results Academy call.
You can jump in the hot seat, and we will evaluate your offer and see if there is a demand for your solution.
We'll see what problems your prospects are trying to solve right now and see what solutions your competitors are offering (there is usually a big gap which is your big opportunity).
Join us on Tuesday, January 3rd at 10 AM Pacific/1 PM Eastern
Happy New Year!