one of the MOST important things you can do in a business, but it’s also one of the LEAST considered elements by most entrepreneurs. If you cannot clearly and specifically define exactly who your ideal client is (and who it is not), you’re setting yourself up for failure. If you’re not crystal clear on who you’re speaking to, you can’t possibly know what they really need and want. And without knowing that, it’s impossible to create marketing and messaging that really connects and resonates with them. Because this is such a critical element of success, I’ve decided to share one of the most powerful video training sessions from The Authority Formula below. Not only does this video explain why choosing a target market is so important, it also gives you some very helpful strategies on how to do it for yourself.
29 Responses
Thanks Greg,
For posting this video.. It was very helpful for a meeting I am having today..
Greg, great information and very helpful to me right now in the development of my business. Getting crystal clear and focus on a specific market is where I’m getting tripped up. Thank you!
Greg, I adore you and obvious integrity!!
My niche is redundant executives from corporate employment who have started their own independent business. Your info in selecting proper market will help them also.
Jim Healy
Nice job… clear concise and to the point.
My target market is someone who has a killer product or service (or idea for a killer product or service) but has a weak marketing message and poor sales results with their current marketing. I take them through an in-depth process to develop a clearly defined niche market with a powerfully compelling marketing message that will speak directly to their target audience and result in a dramatic increase in sales.
Great video Greg. This is a subject I’ve been spending a lot of time on lately to define my target market better. I recognize that the clearer I can get on my niche, the better able I’ll be to speak directly to the clients I’m trying to attract. So far I’ve narrowed it down to entrepreneurs who invest in themselves, and recognize that a coach/mentor is the missing piece to applying what they’ve learned.
Best of Success,
Dan
Great training, made me think deep into my niche’
thank you, Great (i mean Greg)
Thank Greg for share your knowledges. Do you have something for construction business.
You are a wonderful resource to entrepreneurs. This knowledge is key to successful enterprise – enabling focus of energies and resources towards accommodation of targeted customers. This yields refinement of value and leverages efficacies of targeted marketing to which that value applies. Effective niche selection increases the prospective ‘worthiness’ of one’s marketing message and value creation.
Hi Greg!! First of all thank you very much for sharing this hyper-valuable info with all of us… it’s very clear you’ve done your job finding US (your market 🙂 ), and thank you for that. Made me think of how important this is, actually for my job. I’m a singer/songwriter (entertainer) and I’ve had a hard time finding my ideal client, guess I’ve spent too much time developing songs and music and not thinking WHO do I want to reach… crucial. So if you want to base your next examples or feel like posting some resource regarding this matter I’d be very happy hehe… Thanks a lot for your commitment and your help always… You’re helping me a lot in my way. Cheers!
This is so great and concise and clear. I cannot thank you enough – now begins the process of narrowning down my market. Big thanks to you.
Thank you for such a succinct presentation. It is the first time I really understood the importance of narrowing my market and by being specific, I can begin to experience growth; I can then choose another specific target market and gradually expand. Much gratitude Greg.
Greg, Great breakdown of the concept. Absolutely essential, and I am going through the process right now. However, you had mentioned that you are going to go through how to evaluate that market. I hope we have a part 2 of this excellent training:) As always I will be tuned in. You have earned your status as one of my trusted authorities. Thank you.
Jack of all trades and master of none
Is a person who can do almost anything, but he rarely excels in any of them.
Greg, your video on target market and your teleconference with passionate life on Sept 8 were awesome. I really want to hear more and will be registering for the webcast at the passionate life summit.
Nicole B Florida
Daycare Docs LLC
You have opened up a whole new way of looking at things. I am doing much soul-searching in the process of clarifying what is vague and blurred in my mind. Feels like necessary personal development.
Thank you Greg
Thanks for caring for young growing entrepreneurs Your video has been of great assistant.I have been wrongly doing my business without knowing who are my clients I will work on it and share with you any achievement or otherwise.,
If getting clear on our market is the single most important thing to do, that’s a “niche” right there!
Focus can be challenging – especially for “broad-minded” people (not used to “narrow thinking”).
Clarity about what we love, are great at, and can monetize is often more obvious to others than us.
What others think and are willing to share sometimes has more value than what we come up with.
Someone others can trust and relate to can be as “influential” as being perceived as an “authority”.
Here’s to your Health, Wealth, Connection, and Irrational Passion(s)!
Brilliant advice as always Greg – my husband is starting a small ebay business and I will be passing on this video to him to watch, as he has made the classic mistake of thinking up a business idea first and then trying to work out who to target! Thank you!
Great content again! Thank you for sharing your knowledge.
Great content again! Thank you for sharing your knowledge.
Well done, Greg. Your market spans so many types of businesses that your suggestions had to fit us all. My biggest take-away is your reassurance that I should feel a bit uncomfortable about narrowing my market enough, or else, odds are, I haven’t. I’m definitely having to try that thought on several different ways. Makes me feel like I’m trying to work scissors with my left hand or write looking in a mirror. Backwards from what one would normally think, but clearly spot on excellent advice. Thanks!
This is very interesting. I run a tuition centre and an accountancy practise where I mainly focus on business planning. The tuition centre clients come to me all the time but I have to seek out the accounting clients. (Partly due to my mindset I suppose as I find tax and financial accounting mundane).
I am now finding that there is a LOT of competition in the tuition arena as it is an easy market to get into.. I attract the black and Asian community mainly because of word or mouth. Is this already a niche- is it racist? I feel I need to niche so that I am not competing with all the general tuition centres out there. Does Tuition fit into any of your four categories- perhaps future wealth?
i’m a probation officer & i would like to extend my knowledge in the field i am to many more families/kids-i’m lost as to how to do that-do you have any suggestions-i have been a juvenile probation officer in texas for over 20 years & i want to continue it to earn a living outside my regular job-got any suggestions-contact me @ 832.293.8595-greg i would like to become the trusted authority on this subject matter
The question is, what value can you create for a specific market of people based on your knowledge and insight?
This is the most basic concept, but I guess many miss this. That’s why many businesses fail in the first year.
tuition centre
Greg, I really enjoyed your Choosing you Target Market video.
I am currently in the process of starting up my own business. I followed your advices and applied my information to date to some of your key point headings from the video
I Love Doing:
Making women feel confident, strong and good about themselves, and advise them on improvements etc.
I’m Great At:
Image consultancy & using my interpersonal skills to help ladies recognise, source and appreciate quality products eg. Stylish garments & accessories
What the Market Values:
I feel there is room for flexibility when it comes to ladies dresses. I want to offer a ‘concept dress’ ie. a dress which comes in various styles and fabrics but with the possibility of purchasing it with your chosen ‘sleeve-length’ (ie. sleeveless, elbow, bracelet), and your chosen ‘overall length’ (ie. short, knee, calf lengths)
My idea is to manufacture ‘Elegant, Timeless, Classic’ Dresses.
Target market STYLE CONSCIOUS WOMEN WHO ENJOY LOOKING GOOD & FEELING CONFIDENT.
examples: professional affluent ladies, age group 25-50
Where I’m having difficulty right now is, how / what tools do I use to use to get to my Target Market to tell them what I have to offer, how can I locate them in one area? or is there such a thing ?
thank you, A.M.
wow! thanks for this greg! impressive!
Not only do I craft my message to my target audience, but I make it REPULSIVE to everyone else. http://www.howtochooseyourmarket.com/