What Is Your Target Market? accordingtodarine.com /2016/04/28/what-is-your-target-market/

What is your target market? In the business world, we call this part of your niche. Once you have your businessidea on lock, you are ready to get your business up and running! You are ready to start creating the type of work youalways dreamed about. You are ready to build that passion-based business. You are full of ideas and excitementand just ready to hit the ground running, right? Well, I can definitely relate to that feeling. However, hitting the groundwith all of your ideas and building your business from the ground up has its ups and downs. The beginning isdefinitely the hardest part. You want to know why?

Your business can’t perform at its optimal level if you do not know whom your products are for.

With every successful business, there are products. With products, there are buyers. With buyers, there is incomeproduced. With income produced, there is financial freedom for you. With financial freedom for you, there is asuccessful business.

With that said, your business cannot be successful without people investing into your business. This is known asyour target market. If you do not who your target market is, you need to stop what you are doing and figure that out!You cannot and should not continue with your business until you have your ideal audience figured out. Come upwith an idea for your business and then figure out whom your business can benefit. Of course, this step is easiersaid than done. Trying to figure out your target market could cause you to just give up the whole thing and decide it’snot worth it or maybe it’s not time to do this yet.

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Don’t get discouraged.

If you are having a hard time figuring out your target market, you can implement these five steps to help you find outyour market with ease:

1. Figure out what you are passionate about and what interests you.The best way to find your market is to think of your market as a bunch of yourselves. Make a list of things thatinterest you and things that you are passionate about. By doing this, you can focus your business on those things onthe back end and your products will make people with similar qualities of yourself gravitate to your business. If youdo not know what your interests are passions are, just make a random list of things that you find interesting andthings that are close to the heart or something you find very important in your life or life in general. Once you do that,go back to the mission for your business and see which fits with your mission. Eliminate the ones that are notcongruent.

2. Find problems that you can solve.When creating your business, you want to give it a purpose. People will find your business irrelevant if your businessdoes not help solve a problem. Most businesses out there flourish because they solve a common problem peoplehave in the world: finances, time management, communication, technical, health, and others. When figuring out yourmarket, figure out a common problem people have and create a solution. What problem do people have that youcan help them with? What solution does your business offer? If it’s a problem that businesses already havesolutions for, the question turns to how creative you are. What is the problem and how can I put my own twist into analready given solution? Once you figure out what problem your business sets out to solve, you are closer to figureout your market – the people who need solutions to this problem.

3. Research your competition.In the business world, there is no such thing as a lack of competition. Everyone is out there going after one bigprize: success. Everyone who starts a business wants it to be successful and will do almost anything to make itsuccessful. When that said, there are a lot of businesses that share the same vision in terms of what they providethe community with. It may be worded differently, but they share the same niche at times. When figuring out yourmarket, research your competition. Figure out what they are doing and how they are engaging with their market.Take notes. Maybe you thought about one type of problem you could solve, but didn’t know how to go about that.Doing research will help you see first-hand how that problem (or a variation of the problem) is handled by businesspeople who have their market already figured out. Figure out what they are doing and what they are not doing. Onceyou see how other people are doing it, you can confidently have your market and know how to be of service to themusing the knowledge gained and your creative power.

4. Determine how profitable you can be in your niche.Once you figure out your target market, you should do some research on the products that have been advertised inyour niche. If you can’t find any products, it means no one has found a way to be profitable in that niche and youshould try to find another niche. It’s alright if people have already developed products for your niche because thatcan serve as your first stepping stone to creating your product. It is not alright if there are none because that meansthe problem is either not big enough for people to look for solutions or the problem doesn’t affect a lot of people,making the niche very unprofitable. You don’t have to start with your own product. You can start your business bypromoting other people’s products until you generate enough revenue to build your product. As long as you have aproduct and your product is congruent with your business, you will be serving your market in a major way.

5. Bring your idea out to your market.Now that you have created your target market, you have to show them the idea of your business. The best way to dothis, in an intriguing way, is to create a landing page. Once your product is close to finished, you can send people toyour product and keep track of the amount of conversions you get with your product. By doing this, you can see whatneeds improvement. Another way to test your idea would be to build credibility with your market with already madeproducts that help your market and providing value. Once you build credibility, you can have them try a beta version

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of your product and welcome comments, suggestions, and positive feedback.

Congratulations! You now have your target market and your niche. You are now ready to take your business to thenext level and start becoming a credible source in your niche. Go ahead and build your website to start putting yourbusiness out there for the world to see!

I challenge you to figure out what you are passionate about and what interests you because once you do that, yourbusiness will become so much stronger and become more personal for you. I challenge you to find problems thatyou can solve because your business will grow as a credible source faster when you know how to properly solve theproblem. I challenge you to research your competition because your business will become stronger and you will finda nice spot on Google if you can do things other website in your niche did not do. I challenge you to determine howprofitable you can be in your niche because if you are in a niche that brings little to no profit for your business, yourbusiness will fail. I challenge you to bring your idea out there to your market because it’s your market that ultimatelywill be buying your product. You have to make sure they can use it and it can provide value in their lives.

take care.

Darine Howze.

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