My First Million
The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.
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Identify and focus on best customers while eliminating worst ones
Business owners after 9-12 months of operations with diverse customer base
1-3 months for analysis and implementationWhat Success Looks Like
2-3x revenue growth by focusing on high-value customers, reduced support burden, improved unit economics
Steps to Execute
1
List top 10-20% of customers by profitability
2
List bottom 10-20% by profitability and time consumption
3
Identify patterns in best customers
4
Adjust marketing to attract more best customers
5
Raise prices or fire worst customers
6
Reallocate resources to serve best customers better
Checklist
Customer profitability data gathered
Support time tracking by customer
Marketing channel analysis by customer segment
Pricing strategy review completed
Team briefed on new customer focus
Inputs Needed
- Customer revenue data
- Support time tracking
- Customer acquisition cost by channel
- Team time to analyze patterns
Outputs
- Clear customer avatar definition
- Optimized marketing targeting
- Improved unit economics
- Reduced operational overhead
Example
“Shepherd discovered bookkeepers were their best customers vs general VAs, focused marketing on tax season timing, tripled business in 8 months”