In my experience, there are two kinds of small business owners: one that knows whom their market niche is and utilize it, and another who tends to waiver or not want to "set in stone" their target market. With the latter group, I always probe for more information: Why don't you want to choose a specific target for your product/service? Time and time again, the response is the same "I don't want to limit my profits by only catering to a few."

In all reality, you're not limiting any profits at all! When playing horseshoes, you have one horseshoe with one stake. Try playing horseshoes with 5 stakes and one LARGE horseshoe – how successful do you think you'll be then? My guess is not very. The same is true with marketing: the more stakes you're trying to 'ring' the more difficult it is to accomplish that goal. By clarifying which stake you're going after, your success rate is going to be that much higher; and because you're targeting a specific group of people you can speak to them using their own words and make yourself an expert in their field!

Expertise = more business!

I know that personally, I would much rather do business with someone who caters directly to my needs. There are a million widgets out there; why would I buy a large red widget when I need a small green one? If I'm aware of the small green ones, I would definitely buy one! The same goes for your product/service. The more you know about your market, the more people of that market are going to want to buy from you!

Determining your Niche

Where do I find my target market?

Take a good look at your services. What are your three favorite things in the array of services you sell, the ones that you enjoy most? List them on paper, define them clearly, and there you will find your starting point.

Who can use these services?

You need to figure out who can use ALL of these services. Not just one, but all three of the services you chose. No easy route here: answering small business owners just doesn't count (The Small Business Administration (www.sba.gov) estimated there were 23.7 million small businesses in 2003). There may very well be more than one group of people who can use your services; but you must approach these groups one at a time for the most success out of your marketing dollar. Once you find that specific group, narrow it down even further. For example, for many years I worked exclusively with bankruptcy attorneys, and was considered an expert (see that word again) in assisting with bankruptcies. My services were actively sought out (once the word was out about who I am and what I did) without me having to market extensively. Why? Because I was 'the one to go to' regarding bankruptcy assistance. I even trained quite a few personnel in businesses I just didn't have time to assist. These people needed my services, and they needed my unique characteristics.

Who exactly are you speaking to?

You must do some research (yes, the dreaded 'r' word) to figure out

Copyright © Erin Banister

About Erin: Erin Banister is the president of TrinityJacobs – Your Personal Virtual Assistant. Erin's expertise includes marketing and desktop publishing, amongst other administrative specialties. For more information, visit http://www.TrinityJacobs.com