How To Pick The Market For Your Business

The Skool Games Top Widget2

How To Pick The Market For Your Business

Summary

  • I always start by asking if people have the money for what I'm selling. If they can't pay, they can't buy.
  • I check if the people I want to reach are easy to find. A hard-to-find audience makes things costly and tricky.
  • I prefer to enter markets where demand is greater than supply. More buyers than sellers means more opportunity.
  • I choose markets where people have a problem or pain point. Solving a pain makes it easier to sell solutions.

Video

How To Take Action

I would suggest implementing a straightforward approach when thinking about who you want to sell to. First, make sure your potential customers have the money to buy what you’re selling. It sounds simple, but if they can't pay, they won't be buying. This means knowing your audience's financial capability and targeting those who match it.

A good way of doing this is to check how easy it is to find your customers. If it’s tough to track them down, it’ll cost you more time and resources. Instead, target groups that are easier to reach and communicate with. Use social media, online forums, or other spaces where they hang out.

Look for markets where there's a higher demand than supply. If more people want a solution than there are providers, you’ve got a greater chance for success. Research market trends and find out where people are looking for solutions but not finding enough options.

Finally, identify markets where people have a problem or pain point. Solutions sell much easier when they solve real problems or ease annoyances. Think about everyday annoyances or tasks that people don't enjoy doing. Your job is to create an effective, affordable solution for these issues.

By focusing on these points, you align your small business or entrepreneurial efforts with strategic markets that offer better chances for growth and success without spending lots of time and money.

Full Transcript

so the first thing is money do the people that I want to sell my thing have the money for my thing the second thing how easy are these people to find is it really hard to find this you know this particular subset of people the next thing is I'd rather have the market be growing like if I can if I'm about to pick what business I'm going to get into I'd rather go into one where there's more demand than there is Supply and then the final one if I had to pick between two things I'd rather have one where people are in pain just that the annoyances of taking out the trash every day it's like it's just the problems are things that people would rather not do these are kind of the four characterist ICS of if I'm going to get into a market I want to make sure that they've got the money they're easy to find it's growing and they're in pain

Similar Posts