Question I don't answer - Who are my Customers?
I was going over the questions I've been asked as an investor, and questions that I hope/wish new entrepreneurs would ask. And then I considered if there are any questions I would not answer.
There is one question I won't answer.
"Who are my customers?"
Sometimes I know the answer, often times I will have no idea.
But that's not the rationale for not answering.
The reason is the title of this blog.
If an entrepreneur doesn't understand his industry/business well enough to identify the customer, then there's no business to work with/save.
I would rather the entrepreneur stop at that point, and go do something else. Or find a job with someone else. Someone who can identify their customer, and learn what that means.
Just because there's money to be made in a different industry, doesn't mean that it's the right industry for everyone. Each entrepreneur has different skills/strengths/networks.