We’re devoting many of our March posts to the importance of playing in a very specific niche market and an ideal client.  This is a great piece to launch our series.  Now more than ever, every small business owner needs to be identifying their niche market.

How To Create a Niche Market for Your Business

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by Gabrielle Melisende

Have you ever wondered how so many beauty salons, web design companies, attorneys Romper Stomper rip or Mexican restaurants can exist in the same geographic area? Especially in small populated areas? Maybe the demand is high. Or, perhaps some of these businesses have set themselves apart by targeting a niche market. Continue reading →

There’s a wide mis-conception that the more hard work you put into something the better result you will achieve - and as in running a business, working harder should help you to avoid bankruptcy, right? Wrong.  The correct way to achieving better results in your business is to work smarter, not harder!

As in a recent article I read on MSNBC.com titled ‘

Knowing when to call it quits in business’

Sandy Tacchino of Fresno, California never would have thought she would be in jeopardy with her business, Little Dreamers, a children’s clothing boutique.  Determined to succeed, Tacchino like many driven entrepreneurs held the belief that grinding away day after day and continuing to work harder would end in an American success story, not a failure.

“I think we never really considered [bankruptcy] as an option because [our business] was a great idea, so who wouldn’t love our store?” she said.

Herein lies the problem- Like Tacchino, most first time entrepreneurs go in to business thinking that everyone will want their product. But unfortunately, no matter what it is you are selling, you will never be able to sell to everyone Norbit dvdrip . And if you are marketing to everyone, you are most likely going to capture no one.

You must be crystal clear on exactly who it is that wants what you have to sell- not needs, but wants

. We don’t buy the things we need, we buy the things that we want.

For instance, I need to get my haircut regularly. But I want a place that is convenient, fast, reasonably priced and has appointments when I need them. My wife, however, also needs haircuts, be she wants a place that is chic, in the right part of town, has the best stylists and doesn’t mind making an appointment four weeks in advance. See the difference. Same need, two very different wants.

Find out what your customer wants and market specifically to those wants and you will be on a much better path to avoiding bankruptcy and filling your bank account.

I didn’t make this up.  “Wow” was something put forth by Ken Blanchard years ago.  Yet, its potency has never been more significant for the small business owner. 

 As a consumer of various products and services, I’ve become so accustomed to mediocrity in what is delivered to me:  My expectation bar is set way low.  Rarely does a service provider provide that one little thing that sends me to “WOW.  It happens rarely, and when it does, I want to tell everyone.  If fact, I’m still telling “Wow” customer service experiences from years ago.  That said, it doesn’t take much to innovate your business in such a way that you create that “WOW” reaction from your ideal clients.  And, I say ideal clients because that’s the client you want coming back again and again.

 I was stunned the day after a doctor visit, when he called me to check up.  I’m telling everyone.  I was in disbelief when the owner of an ‘order-and-pick-up-at-the-counter’ burger joint walked around with a pitcher refilling iced tea.  My chiropractor sends me articles of interest.  That’s “WOW”.  And it obviously doesn’t take a lot; just a focus on the hot buttons of your ideal client. 

 What is one innovation you can make in your business right now to have your best clients express “WOW”?