👊 Domi's favourite Things - Issue #51

🔎 Finding your ideal better Half 👰‍♀️ (for your Business)

Author

Dominik Hess
January 25, 2024

Read time: 5.20 Minutes

Servus Friends, 👊

last week we talked about the Difference between good and bad Risk, in the “Risk Seeking” Issue. ⚠️

Today we talk about how to find your Ideal Customer Profile. Without this your Solution maybe never sees a Customer.

In the Social Corner we learn more about why Cash is King.

So keep the risk right, my Friend…

The Things we are digging in Today:

  1. 🎯 Why Positioning for the right Profile wins you Everything 🙋‍♀️

  2. 🦺 Domi’s „Building in Public“: 🚀 Searching for the Ideal Customer Profile 👨‍💻

  3. #Twitter-Box: 💶 Free Cashflow Baby & nothing else 👶

  4. #Domi's favourite 5 - Random Person Edition 👴

# 1 - 🎯 Why Positioning for the right Profile wins you Everything 🙋‍♀️

There is a new trendy Framework in the Town of Business, since a couple of Months. It’s called ICP.

Ideal Customer Profile. But what is so good about it, that every half baked Business School is teaching the hell out of this currently?

Opposite to the Buyer Personas (an other known Framework), the ICP is focusing more on the perfect Fit for your Solution. The Buyer Personas are looking more on Demographics and other Attributes.

But careful. You can have an ICP and Buyer Personas for the same Service.

But why you should do all of this thinking Work in the first Place?

Because, “Selling to everyone means selling to no one”…

If you know better for Whom you solving a specific Problem and why they need this Solution, it’s so much more easier to market to the right People.

If you know your ICP, you approach building a Web Page, Google Ad or even a Postcard with high Hit Rate is Way more easy.

So ICP this is really worth your Time, after you found your Problem and the build the right Solution for your Business.

If you want to dive deeper, here is a great Article from SmartBear…

Selling to Carol: Why targeting an ICP brings 10x more customers than you expected

Targeting your "Ideal Customer Profile" (ICP) is the best way to differentiate and win sales, but does it limit your target market?

longform.asmartbear.com/icp-ideal-customer-persona

This can maybe feel like a Step back, when you already sold to your first Batch of Customers. But this Framework used right can sky rock your Business.

# 2 - 🦺 Domi’s „Building in Public“: 🚀 Searching for the Ideal Customer Profile 👨‍💻

Welcome to my Public Building Section. This is where you can sit next to me in the first Coach of the Rollercoaster and learn with me together…

Let’s bring the above Topic into Practice. Because like I told already, sometimes a Step back to the bigger Picture brings new Ideas to follow…

What is actually the ICP for the Domi’s favourite Things Newsletter?

First we dive into the Mission Statement:

“Helping european Entrepreneurs & Business Professionals with Growth Tactics & great Stories to scale their Businesses & Projects.”

Next we have to bring together the Mission with the ICP-Framework. How are the Profiles for the Target-Readers for this Newsletter look likes?

Here is the Result:

I found three different Groups of Profiles which are suitable as a Targets for my Newsletter. The Location overall is of course in Europe.

There are the Founders, which are already founded a Company and after the first Years they looking for Ideas how to grow their Business.

There are the aspiring Founders, which are mostly People at University or in their first Job at a Startup and think of building their own Business at a later Stage.

And there are entrepreneurial Business Professionals, which are working for Growth Ups or Corporations own new Products or Services.

I think we found some sound Profiles here.

The next Step is of course to look into these Groups and think of Ideas how to improve the Value for them.

But that’s a Topic for the Issue in two Weeks. (because Next-Week will be the great Anniversary Special 🎁)

So stay tuned till the next Issue.

--

What are your Thoughts about these Profiles? Do you think the Goals for each are the right One’s?

Tell me by hitting reply to this Email.

#Twitter-Box: 💶 Free Cashflow Baby & nothing else 👶

More often than not, thinking in more simple Terms will lead to more at all.

I know this is maybe one of my more controversial Declarations. And I used the Verb “More” a lot here.

But if you dive deep into the Business or Startup World, you will recognise that many People try to make you believe that everything is complex and hard to solve.

Maybe they do this to sound smart or to legitimate their high Salaries. But I think these People are more often wrong than right with this.

“Not every big and complex Problem needs a big and complex Solution…”

This is why I love the following Post so much. In the End you don’t have to nail all of these complicated Finance Numbers. In the End you just need to nail making Money.

Thats it.

So come back to this Post if you sit next Time in front of a gigantic Finance Spreadsheet…

I have told you about my Grandfather, the Founder of our Family Business in 1965 before, here in this Newsletter. He had no further Education at all. But he strived in making Business only by following simple Guidelines.

#Domi's favourite 5 - Random Person Edition 👴

Here are my most interesting Reads & Videos of last Week:

Feedback please! Help me to improve for more fun Stuff.

Click on a link to vote:

Meme of the Week

Just give me more than 4 Weeks of Vacation… 🛩️

🤣😂 Thanks for reading the 51th Issue.

Please share with your Friends and have an epic Week.