| I've never been much of a fisherman. Sitting in a | | | | Through much research he knew exactly where the |
| small boat for hours watching a red and white bobber | | | | best customers, i.e. the hungry fish, were in the lake. |
| float atop the water holds about as much interest | | | | And that's where he anchored his boat; smack dab in |
| for me as watching paint dry. My old man, on the | | | | the middle of his own starving niche market.Having |
| other hand, would have rather fished than breathe. In | | | | found his hungry market he tested products to sell |
| fact, his favorite Bible quote was: "Give a man a fish | | | | into it. He tried crickets, dough balls, lures, worms, |
| and you feed him for a day; teach a man to fish and | | | | and who knows what else, to determine the kind of |
| he'll sit in the boat and drink beer with you for life." | | | | bait the fish liked best. In the internet marketing |
| Needless to say, my old man wasn't much of a Bible | | | | business we call it split testing: offering customers |
| scholar, but he was one heck of a fisherman.The | | | | variations of a theme to see which one brings the |
| few times that I went fishing with him as a young | | | | greatest response. In his case worms were the |
| boy (before I was old enough to know better) he'd | | | | product that his market liked best.He also knew his |
| bait my hook with a worm he'd dug up from our | | | | customers well. He knew that if they liked the |
| garden and drop it in the water and tell me to watch | | | | product they'd be quick to bite. He knew without |
| the bobber until a fish pulled it under the surface. The | | | | flinching exactly how to react when they nibbled the |
| moment I saw the bobber go under I was to jerk | | | | bait. He didn't jerk the line because he knew that |
| the line and reel the fish in. I can remember staring at | | | | might let his customer get away. He tugged it gently |
| that bobber until my eyes crossed and never, not | | | | until he had his fish hooked, then he'd reel them in |
| once, did it ever go under the surface. I am probably | | | | and close the deal.And being the consummate |
| the only male child ever born in the great state of | | | | fisherman cum entrepreneur he always took his best |
| Alabama who never caught a single fish. It is but one | | | | customers to dinner, literally. What the old man knew |
| of the disappointments my ancestors have endured | | | | was that in fishing, as in business, you succeed by |
| on my account, I assure you.My old man's bobber, on | | | | giving customers (be they human or be they fish) |
| the other hand, would be jerked under the water | | | | what THEY are hungry for, what THEY want or |
| within minutes of being tossed in. He'd be catching | | | | need; not by trying to catch them with the bait or |
| fish left and right and I'd be sitting there like some | | | | sell them products YOU think they should |
| angler savant just staring at my bobber and wishing I | | | | have.Sometimes we entrepreneurs think we're |
| was old enough to cuss out loud.I discovered a few | | | | smarter than our customers (OK, sometimes we |
| years later that the reason he caught all the fish was | | | | are). We think that they will buy whatever we put in |
| that he baited his hook with live worms while hanging | | | | front of them if we just do a really good job of |
| the dead ones on mine. His worm would wiggle | | | | selling it. I've actually heard some arrogant |
| seductively to attract every fish within a two mile | | | | entrepreneurs say just that, "They'll buy what I have |
| radius while mine couldn't even get the attention of a | | | | to sell or they can take their business elsewhere." |
| starving turtle if it had swam directly into my | | | | That line of thinking guarantees that you will spend |
| hook.I'm sure I suffered some permanent | | | | most of your time watching bobbers that never get |
| psychological damage as a result of his actions, but | | | | pulled under.It's when we take our customer's wants |
| we all have our scars to bear. Mine just happens to | | | | and needs for granted that we fail as entrepreneurs |
| be in the shape of a hook with a dead worm hanging | | | | and our lines sit in the water undisturbed. The |
| from it. The memory has been filed away deep in | | | | problem often comes when entrepreneurs put the |
| my psyche in a drawer labeled, "Gee, thanks dad." | | | | cart before the horse. They will create a product or |
| It's a drawer I'm sure we all have, mine is probably | | | | service for which there is no market. They fail to |
| just a little fuller than most.While he could have used | | | | survey the pond for hungry fish. Instead they grab |
| a few lessons on child rearing, the old man was an | | | | the bait they think will work and off they go. Usually |
| expert in one thing that we entrepreneurs often | | | | they come back empty handed. It happens to |
| botch or ignore and that is market research. He didn't | | | | entrepreneurs and fishermen all the time.What can |
| call it that, of course. He said, "Son, never fish in a | | | | you do to help ensure that the pond you're |
| dry hole." Let me translate that tidbit of Forrest | | | | considering is full of hungry fish? That's a topic we'll |
| Gump advice: don't try to sell a product in a market | | | | discuss next time. Keep watching that bobber now, |
| where there are no buyers. If there are no buyers, | | | | you hear.Here's to your success!Tim KnoxTim Knox |
| there is no market. You can have the greatest | | | | Entrepreneur, Author, Speaker |
| product in the world, but if there is no market for | | | | Tim Knox is a nationally-known small business expert |
| your product you might as well pack it up and go dig | | | | who writes and speaks frequently on the topic. |
| worms.Over the years he had surveyed every inch | | | | For more information or to contact Tim please visit |
| of that lake and as a result knew his market well. | | | | one of his sites below. |