So, the other day I was taken to a late birthday dinner by one of my co-workers (from my "day job") and she ended up there first. I got a text as I walked in that she was basically sitting with some business gentlemen that knew the founder of the company we both work for.
After some sushi, and sake, the talk turned to business. Come to find out, we were basically sitting with millionaires having dinner. It was an eye opening experience.
During the conversation one of the three gentlemen started talking about entrepreneurship, to which my coworker states "Michelle is an entrepreneur. She owns her own growing business designing jewelry." Which sparked the requirement that I pull out my iPad and show everyone my store.
One of the three gentlemen began quizzing me about my designs, one showed more interest in my boyfriend E cig (bought from another friend's business), and the third (whom was wearing a $30,000 watch) began picking apart my store, how my jewelry is displayed, my designs, and even my components (mind you he had no expertise in the jewelry arena, other than buying expensive "mass produced" pieces).
All three gentlemen came from similar business backgrounds, had similar net worths, and were eating at my table. Only one of them was wearing flashy, expensive jewelry, and he was NOT my target market.
My friend, whom is a brilliant business woman (but not for artisan jewelry) stubbornly tried to sell my wares to the flashy watch guy for 45 minutes, to no avail. It was amusing to watch. I spent 5 minutes talking to him before I stopped trying to 'sell' to him. It took me 5 minutes to realize the man had no appreciation for artisan products, and that my prices were way to low for him to respect. He was all abut high price tags, not about quality. He wanted FLASHY, and well designed.
However, I spent 5 minutes talking to the gentlemen that took interest in how I design things, and he tried to buy the $80 bracelet I was wearing, off my wrist (on of my niobium micro Maille bracelets).
Moral of the story? It is more profitable to talk to your target market for 5 minutes than to spend 45 minutes trying to sell to someone that is not part of your target market.
Take the time to understand who your customer really is, or should be!
