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Your customers value shows how much you earn.

09/11/2008 16:12

One of the biggest things that stops people in a new Africa Imports business is when they get a slow start. Almost all new businesses start out slowly; and this is when a lot of new business owners get discouraged and quit. So what should you do if you are getting a slow start with a new business. First of all you need to think different than a lot of new business owners. If you focus on getting customers (instead of just getting sales), you will probably see that you are doing better than you think. Most larger businesses figure out the value of a new customer; and when they get a new customer, it is worth a lot to them. So they spend more advertising money than they make back on a first sale. A new customer is probably worth at least $100. to you, no matter how much they buy. If you get a new customer; but they only purchased $20. of products from you; you still really made $100. You just won't get the rest of the money right away. People who buy from you a first time are dramatically more likely to buy from you again later on. So when you get a new customer (who is happy with you), you are getting sales in the future (as long as you don't quit too soon). If you want to figure out exactly what your new customers are worth, you will need to know how much they will buy from you later on. You probably won't really know what this is until you have been in business for awhile. But once people buy from you one time, they will probably buy from you at least three to five times more in the next year on the average. Their later orders will probably also be bigger than their first orders. So don't be discouraged if you only make a little bit for your time in the beginning. Even if you only make a small amount now, if you count the value of your new customers, you are putting a lot of value into your new business. You will almost always be underpaid when you start a new business. You will almost always be overpaid though after you have worked at things for a longer time. So don't get discouraged. When you are getting all of your new customers together, it's really hard to get a lot of money right away. Your payback for most of this will come later on.