KNOW YOUR CUSTOMER

Most businesses are in the business of selling something—products, services, experiences. But the ones that truly thrive? They’re in the business of understanding people.

If you want to build a great business, a great brand, or a great destination, you can’t afford to assume what your customer wants. You have to know. Not through guesswork, but through listening, watching, and anticipating.

I can’t emphasize this enough: If you get this right, it’s the single biggest unlock for explosive growth in your business.

Want to 10x your bottom line? This is how.

Most businesses waste time chasing leads, tweaking offers, and cutting prices when they could just solve the real problem: deeply understanding their customer.

This is the biggest, easiest, highest-leverage way to multiply your revenue.

Because when you know exactly what your customers want, everything else becomes easier:

>> Your sales process shortens.

>> Your pricing goes up.

>> Your retention skyrockets.

>> Lifetime Value of your customers increases.

>> Customer referrals multiply (best source of new business).

And I’ve seen firsthand what happens when you get this right…

CASE STUDY: HOW UNDERSTANDING CUSTOMERS TRANSFORMED A MULTIFAMILY PORTFOLIO

I once worked with a multifamily portfolio owner struggling with low occupancy and declining retention rates. Their go-to solution had always been rent discounts and flashy incentives—but they weren’t solving the real problem. Instead of making assumptions, we took a step back and focused on understanding what residents truly valued.

Through direct conversations, behavioral analysis, and in-depth resident feedback, we uncovered a key insight: residents weren’t just looking for lower rent—they craved a stronger sense of community, better service, and a more personalized living experience.

Beyond these insights, we also gained a far deeper understanding of who our residents actually were. Instead of viewing them as a broad demographic—"25-55-year-old working-class individuals"—we developed highly detailed resident profiles, allowing us to anticipate their needs, refine our offerings, and create a living experience that truly resonated.

By shifting our strategy to focus on resident experience instead of price, we:

>> Enhanced communication—making residents feel heard, valued, and engaged.

>> Upgraded services and amenities—aligning offerings with what residents actually wanted.

>> Launched tailored programming—from community events to concierge-style services that created stronger connections.

>> Added small but meaningful perks—simple, cost-effective enhancements that increased daily satisfaction.

The Results?

>> Retention skyrocketed—happy residents stayed longer, reducing costly turnover.

>> Word-of-mouth referrals surged—leading to higher occupancy without increasing marketing spend.

>> Portfolio-wide valuation increased by $80M+ in just a few years.

This wasn’t an isolated case. Whether in real estate, startups, community initiatives or corporate environments, businesses that take the time to deeply understand their customers consistently outperform those that rely on industry trends or outdated assumptions.

IF YOU DON’T KNOW YOUR CUSTOMER, SOMEONE ELSE WILL

The biggest risk to any business isn’t competition—it’s irrelevance.

If you’re not learning about your customer every day, you’re leaving the door wide open for someone else to step in and do it better.

People have unlimited choices today. They don’t just want good service; they want remarkable service. They don’t just want products; they want experiences. If you’re competing on price, you’ve already lost. The best businesses don’t win because they’re the cheapest—they win because they make people care.

STOP COMPETING ON PRICE, START WINNING ON VALUE

Every great brand, every great place, every great experience is built on one thing: understanding people better than anyone else.

Disney understood this. Apple understood this. And every successful entrepreneur, real estate visionary, and business leader understands this.

Many businesses unintentionally turn themselves into commodities. When customers can’t see a meaningful difference between you and your competitors, price becomes the deciding factor. This is why so many companies end up in a race to the bottom—offering discounts, promotions, and incentives just to stay competitive.

But here’s the good news: you don’t have to be a commodity.

When you deeply understand your customer’s real wants and needs, you stop being just another option. Instead, you position yourself as the only solution that truly ‘gets them’, understands and meets their needs.

If your customers are choosing based on price, ask yourself:

>> What’s missing in my offer that would make it so valuable that price becomes a secondary factor?

>> What problem do my competitors ignore that I could solve better?

The businesses that win are the ones that create irresistible value—not by offering the lowest price, but by solving problems so well that customers wouldn’t dream of going anywhere else.

YOU MIGHT BE OFFERING TOO MUCH - AND IT’S HURTING YOUR BUSINESS

If you feel like you're offering everything to everyone, you’re not alone.

Many businesses struggle with spreading themselves too thin, trying to be all things to all people instead of focusing on what their ideal customer truly values.

Take Howard Johnson’s—once the biggest restaurant chain in America, even bigger than McDonald's.

But instead of sticking to what worked, they kept adding more dishes, expanding into everything, and diluted their brand in the process.

The result?

• >> Customers got overwhelmed

• >> Operations became inefficient

• >> More focused brands (McDonald’s & In-N-Out) crushed them

Today, Howard Johnson’s is gone, while brands that focused—like In-N-Out—are thriving.

In-N-Out keeps it simple: Burgers, fries, shakes. And they dominate.

The Lesson? Simplicity Wins.

• >> Stand out instead of blending in

• >> Deliver a better experience by focusing on what customers actually want

• >> Become the go-to choice, instead of just another option

Here’s where most businesses miss the real opportunity:

Most of your results come from a small percentage of your efforts—this is the 80/20 rule (also called the Pareto Principle). It means 80% of your profits likely come from just 20% of your offerings.

When you identify and double down on that 20%, making it exceptional, your pricing power goes through the roof.

Why? Because when you deliver something that directly and effectively solves your ideal customer’s problem better than anyone else, you’re no longer a commodity—you’re a necessity.

Alex Hormozi calls this ‘niching down’—removing the distractions and doubling down on what actually moves the needle.

Your goal isn’t to offer more—it’s to offer what matters most.

If your business feels like Howard Johnson’s, it’s time to cut the clutter, focus, and dominate. Be like In-N-Out.

THE BEST BUSINESSES DON’T GUESS - THEY OBSESS

Some of the most successful people and companies in history have built their entire empires around truly knowing and serving their customers better than anyone else.

Walt Disney: Creating Magic by Understanding Emotion

Walt Disney didn’t just build theme parks—he designed immersive experiences rooted in human emotion. He understood that people weren’t just paying for rides; they were paying for a feeling—wonder, nostalgia, joy. Every detail of Disneyland, from the music playing in different park areas to the way trash cans are spaced out, was obsessively designed around guest experience.

Rick Caruso: Reinventing Retail Through Experience

Rick Caruso, the mastermind behind The Grove in Los Angeles, transformed retail by recognizing that people don’t just shop—they seek connection, entertainment, and atmosphere. While malls across America were declining, Caruso’s developments flourished because he focused on what customers truly wanted: a place that felt vibrant, safe, and engaging—a destination where time seems to slow down, allowing people to relax and enjoy the moment. From live music and dancing fountains to meticulously designed streetscapes, his spaces are built around emotional engagement, not just transactions.

Steve Jobs: Designing Products Around Human Behavior

Steve Jobs didn’t just create technology—he built experiences that seamlessly integrated into people’s lives. Apple’s success wasn’t just about powerful hardware; it was about deeply understanding how people interact with technology and making that experience intuitive, elegant, and effortless.

Jobs understood that customers didn’t always know what they wanted until they experienced it. Apple anticipated needs before they were even articulated, setting new expectations and building insane customer loyalty.

Elon Musk: Using Data-Driven Demand to Build What Customers Actually Want

Elon Musk takes a different—but equally obsessive—approach to understanding customers. Instead of assuming what people want, he actively tests demand before fully committing to production. Tesla, SpaceX, and even his latest ventures like Neuralink and The Boring Company have all used waitlists, pre-orders, and direct customer engagement to gauge real demand before scaling.

Tesla doesn’t just measure demand—it manufactures it. By using pre-orders and small deposits, they create built-in momentum, social proof, and real urgency before the product even ships.

HOW TO START OBSESSIVELY KNOWING YOUR CUSTOMER

Want to build this level of customer obsession into your business?

Here’s how:

1. Study Their Frustrations, Not Just Their Desires

Most businesses ask, “What do you want?” Instead, ask, “What frustrates you most?”

>> Customers often don’t know the perfect solution — but they can always tell you what’s annoying, inefficient, or broken.

>> Look at negative reviews — not just yours, but your competitors’. What are customers repeatedly complaining about?

>> Dig into forums, Reddit threads, and social media to find the real problems they’re discussing.

Steve Jobs didn’t rely on focus groups because customers didn’t know what was possible — but he paid obsessive attention to their pain points and designed intuitive solutions around them.

2. Become Your Own Customer (or Shadow Them Closely)

If you don’t experience your product, service, or space the way a customer does, you’re missing insights.

>> If you’re in real estate, live in/work from one of your properties anonymously for a week — notice what frustrates you.

>> If you run a gym, go through the sign-up and workout process like a first-timer — where do you get stuck?

>> If you sell a product, use it daily and document what feels smooth vs. what feels annoying.

>> Shadow your customers — watch how they interact, where they hesitate, and what they say (or don’t say).

Rick Caruso didn’t just build shopping centers—he walked them, studied how people moved, and crafted environments that made people stay longer.

3. Run “Deep Dive” Customer Interviews

Instead of a simple survey, host 1-on-1 interviews where you go beyond surface-level feedback:

Ask: 

>> What was going on in your life that made you start looking for a solution like ours? (This reveals real motivations).

>> What almost stopped you from buying? (This is gold — hidden objections you can address).

>> What did you expect but didn’t get? (This tells you where to improve).

>> What would your perfect solution look like? (People may not know what they want, but they know what they hate).

Elon Musk doesn't assume demand—he lets customers tell him through waitlists, pre-orders, and real data before building. You can do the same by testing early, collecting feedback, and refining before full execution.

4. Watch How They Actually Use Your Product or Service

Customers often say one thing but do another. Observe their real behavior, behavior is the real indicator. 

>> Where do customers hesitate?

>> What’s the first thing they do after purchasing?

>> If they have to "figure something out," that’s a problem worth solving.

Steve Jobs obsessed over user experience—he made sure an iPhone could be used instantly, without a manual. Disney, Caruso, Jobs, and Musk all understood this: great experiences feel effortless because they are designed that way.

5. Reverse-Engineer Their Buying Decision

Identify the moment someone says “yes” and replicate it.

>> What problem were they experiencing 5 minutes before they decided to buy?

>> What was the exact thing that pushed them over the edge? (A testimonial, a product feature, an emotional moment?)

>> What concerns did they have before purchasing, and how were those concerns overcome?

>> If you can pinpoint what triggers action, you can create more of those moments intentionally.

Elon Musk does this at scale—he uses pre-orders, deposits, and limited releases to see what excites customers and adjusts accordingly. Tesla doesn’t guess demand, it proves it.

TAKE THE GUESSWORK OUT OF GROWING YOUR BUSINESS

Businesses that win don’t just guess what their customers want—they know.

If you’re ready to stop relying on assumptions and start building a business that attracts, retains, and delights customers, The Ultimate Customer Playbook is your step-by-step guide to making it happen.

Inside, you’ll get:

>> Proven templates to help you uncover what your customers truly value

>> High-impact scripts for interviews, surveys, and conversations that reveal game-changing insights

>> Tools & frameworks to refine your offer, stand out from competitors, and create experiences people love

Don’t compete on price—win on value. Get instant access to The Ultimate Customer Playbook and start understanding your customers better than anyone else.

👉 Get The Ultimate Customer Playbook Now