Can you identify your audience?
One of the most important and sometimes difficult first tasks of any new business owner is to identify who will be interested in buying their products or services, who they should market to and who needs to hear from them?
The classic mistake made by all too many entrepreneurs is to assume that they are playing to an audience that includes â€¦ well, everyone.
Todayâ€™s market is moving further and further away from mass interest and closer to niche businesses â€“ those that are focused on a particular social, racial or financial segment of the market that can be clearly identified and marketed to.
Corporate gurus have been telling us for some time that to succeed in your business you must be completely focused on its success and to truly believe in and be excited by what you do.
What better way of achieving this than to start a business based around your community, a hobby that you are passionate about or something that you fervently believe is missing in the world?
Being this niche-orientated will enable you to accurately identify your audience, focus your promotion on them and rapidly become a big fish in your small pond.
Photo by woodsy.