Your mamma was right: “You can’t please everyone all of the time.”

While it pays to work harder to offer top-quality products and superior service to your clients, working smarter involves becoming an expert in a specialised area. Your business can then target a specific subset within your industry, aka a niche.

Focus on your strengths

One of the advantages of choosing to concentrate on a niche market is that it allows your passion to flow freely from you. The very things that set your heart on fire and your pulse racing are where your best marketing efforts will be appreciated.

Target the right markets

According to a recent survey:

• 48% of all salespeople stop calling a potential client after one solid “no”.
• 25% make two calls to a prospect and then stop.
• 15% make three calls and then stop.
• 12% make three calls and continue. These salespeople are responsible for 80% of all sales!

When it comes to marketing, frequency trumps reach. (Not to say that reach doesn’t have value though.) But by narrowing your target, you can focus more attention on the right prospects.

Product last

Solve a real problem or fill a need. A problem experienced by a group of people you can reach in one place. And if you’re going to solve a problem, find the problem before investing even a single cent in your product. This means engaging with people who may be your customers one day. But you cannot “perfect” a product until you know how it perfectly solves your customers’ problems or meets their needs.

Get out there! If no one buys your offering, don’t lower the price. Keep adding value until they do. Market first. Product last.

Forget growth

Sounds kinda counterintuitive, right? But instead of keeping up with the Joneses and hiring more staff and expanding into new premises, focus on profit instead. By getting the basics right, you will organically grow. Never forget though, that the purpose of your business is to make a profit.

For more information about business coaching and business consulting services, contact me:
083 256-0378   |   This email address is being protected from spambots. You need JavaScript enabled to view it.

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