Tip of the Day: Your Target Market

As I mentioned before, an important part of your business plan is a marketing plan; and one key factor in the marketing plan is identifying your target market. Of course, most of us would say “my target market is everybody in God’s green earth!” But you can well imagine that it is very difficult to develop an effective marketing campaign targeted to every person on earth.

There are two ways of defining your target market (well, I am sure there are more than two!). One way is; if you already have a product, ask yourself who would be most interested in your product? If it is a service you offer, who would be most interested in your service? Another way is to ask yourself who would be your ideal client. Who is the client that you would most like to work with and why? This method works best if you are still trying to find a product to sell or a service to offer in your business.

Now, go find that ideal client!