One thing an entrepreneur should keep in mind when valuing a product or service is to ensure that they have dedicated Coconut Customers, says Subramaniam Chandramouli, Sales Trainer and Author.
What is a coconut customer?
A well-grown coconut tree produces coconuts continuously. Likewise, entrepreneurs should ensure that they have customers who can give them repeat business. These coconut customers can further their business.
From then on wards, entrepreneurs can differentiate niche products from which they can make profits, he explains. Therefore he strongly recommends that entrepreneurs, in order to survive, should make certain that they have coconut customers even if the profit from them is marginally less.