Last updated on January 23rd, 2021. Posted in Find Your Business Niche.
How many customers do you need? If you're thinking, "everybody" -- as I did for years and years -- well, there's two problems with that.
Here are links and resources mentioned in today's video. Enjoy!
First, if "everybody" is a potential customer, then that's way, way too many people. Could you handle 100 customer service requests a day? 1000? 10,000? Me neither! As small online business owners, we don't have the capacity to handle "everybody"...So we need to narrow things down.
The second problem with your product or service being perfect for "everybody" is that it's way too generic. Something that's created for everyone in general is something that's created for no one specifically.
Rather than attracting any kind of interest or attention in what your business is all about, you'll simply blend in with all the other businesses in your market.
So instead what we need to do is narrow things way, way down and find a much smaller subset of target customers that reside in an existing market. That is, a group of people who are being overlooked and underserved by current market vendors.
The goal here isn't to serve "everyone." Instead, the goal is to serve "someone." By that I mean, a very specific group of people who have a special interest.
And more than that, and this takes some guts, is to proclaim, "This is who we are. This is who we serve. This is who we don't serve."
While this might sound reckless, really, because we can't serve everyone, we're repelling the sorts of customers we don't want to attract, and we're getting the attention of the people we DO want to attract.
Hope you enjoyed. See ya next time!