Finding your target market--an Action Plan
Posted by Celia Couture on Tue, Aug 17, 2010 @ 09:40 AM
It's one of the first days in weeks that the weather has been actually MISTY...not raining...just MISTY. I've been working on lead generation all morning and I'm weary. It's tough facing the battle each day of convincing potential clients that YOU are the missing link in their business success. IF you are a small business owner, you must know the same frustration. We are in a sputtering economy and the sales cycle is disturbingly long. Certain industries seem to be riding the waves, occasional dips in sales revenues, but still holding steady. Other industries, which rely upon the health of the construction or real estate markets are hurting.
We know this will, at some point, turn around. When is the question and how do you survive until this happens. I've been reading a book, Book Yourself Solid by Michael Port. He devotes quite a bit of time, talking to his readers about finding a target market. He asks his readers to think about what they know, what they really enjoy doing and what they are good at. He asks you to think about how to link your interests and hobbies to your business. People typically buy what you are selling because you demonstrate passion, excitement and enthusiasm about the product. It doesn't matter whether you provide a service or a system. Your own enthusiasm should be contagious.
So many successful business owners find their target market because they are engaged in their business. If you enjoy staying in good health and belong to a gym, can you offer your services to that market? If you a graphic designer and your entire family is in the restaurant business, can you offer your services to that market. It would certainly be easier to get excited about working in an environment that you know and love.
Next Port talks about identifying the urgent needs and compelling desires of your target market. If I return to my earlier comments, if I were a franchise owner of a health club, then I would be concerned about customer satisfaction. Is my club meeting the needs of a diverse population? Are we delineating ourselves from the competition? Do I have a friendly and knowledgeable staff. Sometimes we're too close to the service to spend time thinking about what we need to do better.
Michael Port states: Offer investable Opportunities. "Do potential clients within your target market see your services and products as opportunities that will give them a significant return on their investment? If you want to succeed, then the answer to this question has to be YES!
If you are looking for a business coach that can help you identify your target market, then pick up the phone TODAY and call us. We are experts in helping you unleash your values and your passions. What do you have to gain? With one quick call...we can help you gain more revenue, more profitability and more opportunity for you to enjoy your own passions while you work IN your business not AT your business!