Tag: target market

This week's question from my portal “The Neagle Code: Directions for Life” comes from someone who wishes to remain anonymous.

Hi David! I have a successful business by all accounts. We have a high profit margin, my team is amazing, and we’re growing. The problem: I’m bored. And I’m not happy.

I have an idea for a new business venture, but it seems risky and I’m equally excited and terrified (because of the financial risk) to step into this and bring it to market.

Any wise words of wisdom that may help me figure out what I should do?

GREAT question, and here’s the truth:

Things won’t always turn out the way you want them to. Look at what some of the most influential business people have done.

Jeff Bezos views ANY new idea as an experiment…and every experiment has the potential to fail. But here is the difference…Bezos doesn’t allow his failures to define his value. He sees failure as part of what is required in all areas of business.

And let me tell you, he’s had his fair share of failures… ah hem… remember the Fire Smartphone? Yeah, me neither…that’s because it was a total flop.

Here’s the thing.

If it excites you and terrifies you, you’re on the right path!

Obviously you want to do your research and make sure there’s a market for what you want to create, but if the market is there and you’ve done your research, the risk is worth the reward.

Don’t let your results define you. See, any obstacle or failure is an opportunity to learn, grow and make what you’re creating even better.

The fact that you’re bored and unhappy is an indicator that it’s time to stretch and grow.

And if you’re not growing, you’re dying.

I recently wrote an article that was published by CNBC and Yahoo Finance that I think may help as well.

Check it out by clicking below and keep me posted!!

PS: If you enjoy reading my weekly Neagle Code, you'll LOVE my podcast, The Successful Mind. You can expect cutting edge information and strategies relating to success mindset, leadership, wealth creation, and relationships, all based in Universal Law and my own experience creating a multi-million dollar business.

Will you do me a favor? Subscribe, listen and leave me a review! I'd love to know what you think!

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This week's question from my portal “The Neagle Code: Directions
for Life” comes from Calvin Roe.

Great question Calvin.

No matter how incredible your services are, you are just not going to be everyone's cup of tea. And if you’re unclear about who your client is, you will end up being all things to all people which isn’t a good strategy for attracting your ideal client.

The clearer you are on what you are looking for the easier it is to actually get it.

The first thing to determine is your target market. What do I mean by determining your target market? If you can identify the problem that you specifically resolve for clients, you will see that your service is really designed for one specific person you can help the most.

If you can define what that person looks like, it becomes increasingly easier to find that individual. Where you find that individual, you will find others that want exactly what you are offering.

Ask yourself:

• What is my unique selling proposition? Why should a person listen to me? What problem do I specifically solve?
• Who is my client? Really focus on that demographic by getting clear on who you can help.

When you discover who this person is, the next piece is where are they?

You don’t have to cast a big net if you know exactly where that one fish is that you are looking for.

Just Believe,^®

 

PS: The Neagle Code: Directions for Life is a weekly no-cost
program that is open to everyone! Each week, I'll select and personally respond to one question received via the above “The Neagle Code” page that I feel in my heart will help the most people. (You may choose to remain anonymous if you wish, with our full support.) It is my deep, heartfelt intention that ~ in answering your questions ~ I may provide you with the Universal Truths that in committed application, will set you free. Simply submit YOUR burning question at: www.DavidNeagle.com/ask-david to participate.

This week's question from my portal “The Neagle Code: Directions
for Life” comes from someone who wishes to remain anonymous.

Thank you for your great question!

I love this question because it is an opportunity for you to really look at what you offer and define that one specific person that can use your product or service. When you define that person it becomes easier to find that individual.

The first thing to understand is that clarity is key.

The clearer you are on who it is that you are looking for (your target market), the easier it is to put the puzzle pieces together (where to go to meet these people, networking, marketing) so that you can actually find them.

When I say clarity here, I mean clarity like a whistle only a dog can hear. It is remarkable how that kind of clarity will totally attract that person when you couldn't see them before.

The first question you have to ask yourself is:

What are the explicit facts about my target market?

Are they male or female? Age? Are they married? Divorced? Do they have children? Where do they live? What kind of car do they drive? What is their favorite TV show? Do they exercise? What are their hobbies? What is the biggest purchase they have made? What do they want to change in their life right now?

Answer this from the place of the ONE potential client you can help the MOST.

The next question you have to ask yourself is :

What are the implicit nuances about this person?

What does she think and feel? What does she see, hear, say out loud and do in her day-to-day life? What is most painful to her? What is her biggest win? What is her buying mentality towards your product or service?

You need to be able to determine the readiness and willingness of this person to actually buy what you are selling at the level that you are asking.

I encourage you to do these exercises. By doing them, you will begin to have clarity and you will become like the whistle only dogs can hear.

You will not only find the right clients but the clients whom you love to work with!

Just Believe,^®

 

PS: The Neagle Code: Directions for Life is a weekly no-cost
program that is open to everyone! Each week, I'll select and personally respond to one question received via the above “The Neagle Code” page that I feel in my heart will help the most people. (You may choose to remain anonymous if you wish, with our full support.) It is my deep, heartfelt intention that ~ in answering your questions ~ I may provide you with the Universal Truths that in committed application, will set you free. Simply submit YOUR burning question at: www.DavidNeagle.com/ask-david to participate.