Published on February 23, 2021 in Choosing A Market.
A big question for new entrepreneurs and those interested in starting their own online business is, how do you decide on your target audience? How do you determine what specific group of people you'll serve? If you've seen some of my other posts, then you know already that if "everyone" is your audience, then that's way too many people. Plus, it's way to muddy, soggy, and not nearly specific enough.
Here are links and resources mentioned in today's video. Enjoy!
So how do you decide on your target audience -- the tip of your spear? Well, there are a few ways to do this. Here, we'll take a look at a few different methods you can use to figure out which target audience you want to serve.
First, ask yourself, what special interest groups do I already belong to? Are you into cross-stitching? Kayaking and other outdoor adventure sports? Are you into music? Collecting rare Japanese toys from the 80s? Something else?
Your interests and the specialized groups you already belong to is your first clue in determining your business's target audience.
Next ask yourself, What sorts of people do you enjoy being around? Do you enjoy being around other people who are also into outdoor adventure activities? Do you enjoy being around chess enthusiasts? People who belong to a particular professional association? Or maybe you really enjoy going to antique shows and talking with dealers and collectors, who knows.
The sorts of people you enjoy being around and spending time with is another big clue in helping you figure out who your business's target audience is.
A third question you can ask yourself is, what big, complex, difficult problems are the sorts of people you enjoy being around willing to pay to solve?
Since you're very likely already a member of this group of people, you probably have a pretty good sense of what big problems and challenges other people in this specific group are having.
That said, you may want to start talking with people, asking them about the problems and issues they run into. This is a big, big way to not only help determine a specific sub-market to target...but it also begins the process of market research.
Give me just 63 minutes, and I'll show you exactly what you need to do to launch your successful business!