Pat really likes numbers, and to mix them in ways any mathematician would be jealous. (Multiply pi by two and again with the radius of a circle, ... voila, that's the way you become rich ... sorry, kidding ...)
Three tidbits of "today's" post:
- People buying from you once will likely buy from you again (... in other words, it's easier to satisfy an existing customer, than to get a new one)
- Optimize the "dollars earned per customer" buy finding the optimum price for your product (not too cheap, not too expensive, ... which is actually quite difficult ...)
- You don't need a lot of customers to become successful (if you product sells for the "right" price)
... and two approaches to achieve what's said above:
- enter a popular market, and gain a market share using an unique angle
- specialize in niches (where you might not have to fight with that many competitors, but still need an unique angle)
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