Study your target market. It doesn’t matter if you are trying to get a job or selling your first product as an entrepreneur. You need to know what your target’s, habits, preferences, and pain points so you can work your product for your audience’s needs. It is more beneficial to start with a small target market and perform extensive market research to become an expert in what they need.
You should sell your a service or product that you are passionate about and is natural to you. What is something that comes to you so naturally that it feels like leisure rather than work? You will be more successful when you establish credibility and showcase your love for the topic.
Find your niche, it is always better to serve the needs of a smaller audience really well, and work your way outwards to a larger audience as you grow. Continue niching until you reach a consumer base that cannot live without your service or product.
What we Learned this Week
Through this episode we learned that OUR target market was too general. We have now identified that we want to help young professionals who want to combine passion with business and are currently lost in the market place or in their process.
By identifying this, we will be able to provide more tailored material to inspire and find new ideas for those who are going through the process. We have seen amazing results of our close friends who are in this target market and want to share it with more people.
Try this week
Make a note and write down things you are truly passionate about.
Scenario 1: You win 1 billion dollars in the lottery tomorrow. What would you do with your time and money?
Scenario 2: You only have 5 years to live and you want to start a business. What would that business be about?
-The answers to these questions will help you answer what you are truly passionate about when you take out all the distractions of our lives. Why should the things you write down be any different than what you are doing today? Success is a product of working at something that you are truly passionate about.
Share it with us!
Quote of the Week
"Narrow your target down and really identify their pain points to achieve great results for your audience"
This Weeks Episode
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