The Hot Dog Stand Model- yep the hot dog stand! I attended a workshop on marketing that asked this one question; "If you could have just one thing to sell your hot dogs in hot dog stand what would it be?"
Hands went up , people yelled out answers such as; a great location, the best hot dogs ever, the fastest cooking dogs in town......the speaker told them all they were DEAD WRONG! A hush of silence filled the room. Then the speaker said, if I could have just one thing to sell my hot dogs it would be-
HUNGRY PEOPLE!
Think of it this way. You can have a great location selling the best juiciest, fastest made, inexpensive hot dogs ever on the planet, but if your crowd is a demographic of Jewish Vegetarian Rabbi's....guess what? You are not selling ANYTHING!
Conversely, you can have worst, slimy, over priced hot dogs on a desert island full of starving people with a few bucks, and they will give you the shirts of their backs and money in their wallet to get just one of those nasty hot dogs. Why I bet they would even want 2 or 3!
So what does this mean? Think about it....if you find the right crowd, you can sell them what they need and they will buy it.
So, really the concept is simple--- FIND THE NEED, FIND THE DESIRE, CLAIM THE NICHE!
MAKE $$$$$
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