Hello, this is Laura Lee Rose – author of TimePeace: Making peace with time – and I am a business and efficiency coach that specializes in time management, project management and work-life balance strategies. I help busy professionals and entrepreneurs create effective systems so that they can comfortably delegate to others, be more profitable and have time to enjoy life even if they don’t have time to learn new technology or train their staff. I have a knack for taking big ideas and converting them into smart, sound, and actionable ideas.
At the end of the day, I transform the way you run your business into a business you love to run.
Today’s comment came from a busy entrepreneur:
Should I focus on just one niche customer group initially?
I have been trying to get feedback from my ideal target audience but I am finding the group hard to reach. There is another target audience that could benefit from my service. I am not as passionate about that group but I think they may be easier to get feedback as I build out my business. Should I focus on both or only one?
I recommend that you focus on one target audience. But I also want to caution on your method of reaching those people. If your method of reaching “people” is ineffective or flawed – then it doesn’t matter how many target audience you go after. Maybe it’s not that the group is hard to reach. Maybe it’s the way you are going about it. If the ladder is true – then you will have the same difficulties with the second group.
My recommendation would be to study up on the most effective methods to reach your target market. Find other business owners that are successfully marketing to that same target – and find out how they are doing it. Start partnering with complimentary business that shares the same target audience. Business network with those who are already successful in marketing to your target audience. Learn from those that have achieved what you want to achieve.
Periodically re-evaluate your target niche
Be watchful on who is attracted to your products and services. There may be other groups interested in your products or services. For example, Chris owned a Curves Club for women. She wanted to have her club hours during the day (9am-1:30pm and 3:30pm-7:00pm). This makes it difficult for younger, working women use her club. She didn’t want to extend the hour, so she mostly marketed it toward retired women.
But if Chris takes a second look at her niche, she could expand it to include:
- Mothers with school-age children
- Women who owned their own business
- Women who worked from home
Conclusion:
Keep the end in mind that your products and services will evolve. Therefore, your target clients will also evolve and change. Review your product funnel strategy to see if different product levels will attract different clients.
For more information or help on this topic, please contact LauraRose@RoseCoaching.info
Or sign up for a complementary one-on-one coaching call, just use this link https://www.timetrade.com/book/WFSFQ