Read this piece of story on the internet.

A famous thela wala said he used to earn INR 20L a year. Now he hardly earns any money.

A person asked the owner, “this pandemic must have impacted you in the sales".

The owner said, “No, sir. It's not the pandemic. It's my business strategy that went wrong and impacted my business.”

The curious person asked him what happened and what was the business strategy.

The owner said, “I used to sell kadhi chawal on a small cart for 25 years. People knew me and so I used to get a lot of customers on a daily basis. Recently, someone advised me to buy a shop to get more financially well off customers. So I bought a shop and closed my previous business. “

Result :

He lost 70% of his old customers to a local vendor who replaced his cart. Now he has to spend a lot on advertising to attract rich customers. The sales are of 30% of what he used to earn from his previous business.

Moral of the story :

Choose your niche wisely. If you try to target everyone, you will end up losing everyone and gaining nobody. Never take your old customers for granted. They trusted you when nobody trusted you. They made you rich when you had nothing.