Last updated on March 3rd, 2021. Posted in Find Your Business Niche.
A very important decision you'll make in your business journey is determining the sorts of people you'd like to serve. That is to say, your target audience, your market, the group of people you'll serve who share a special interest.
Here are links and resources mentioned in today's video. Enjoy!
Now to help you along, I do have a few mandatory rules to help narrow your audience selection down. And one of the big ones is this: Avoid trends and fads.
Why? Because the sorts of people who follow trends and chase fads are very fickle. These kinds of customers are easily bored, products and trends go out of favour, and customers quickly move on to consume the next big thing.
Fidget Spinners. Mom jeans. Silly Bandz. New country...need I go on?!
It seems every few months (since, like, forever) some new fad, trend, or "must-have" product comes along. And since the goalposts are constantly moving, that makes it near-impossible to build a sustainable online business here in this sort of environment.
And besides, serving trends doesn't solve big enough problems. Worse, you'll face fierce competition selling commodities to price-sensitive shoppers. Is that the kind of business you want to run? Are picky, trend-chasing shoppers the sorts of people you want to serve all day, every day?
I don't think so. Avoid trends.