How To Find Your Target Market
When people start up a business, they create a great product, but fail because they then try to sell their product to everyone that they can get in front of. The problem with that is that not everyone wants the product. Not everyone has a need for that product. Not everyone is in that target market. Take an automobile for example. You would think that everyone needs a car, but that simply not correct. People that live in the inner cities usually use public transportation (like the light rail system in Phoenix, for example) because it’s easier, and cheaper to use than having to make a car payment and deal with traffic every day.
There are three common problems that entrepreneurs have:
- They don’t have a niche (target market)
- Their audience is way too large
- They have no idea how to start
The first things that you should think about are:
- Who is your target market?
- What problems do they have?
- What solutions does your product provide to them?
For this blog, I’m going to use my own target markets as the examples of who I target, how I target them, and why.
Who are my target markets?
1. Veterans and Active Duty Military
Why is this a target market of mine? Because I am a United States Army veteran. I understand the military community and I understand the struggles that we go through along with the problems that we have that we search for solutions for on a daily basis.
2. Cubicle Workers
Why is this a target market of mine? Prior to me becoming a full-time entrepreneur, I worked within the cubicle walls for seven years. I hated it, I couldn’t stand it, and I understand how people can become frustrated with the “boiler room” atmosphere, along with the daily grind that comes with it.
You need to find out how to create rapport with your customer base. The best way to do that is to identify with them that you understand their problems because you have had those problems as well.
So, what problems do they have?
Well, how much time do you have? From pay cuts and constant deployments for our active duty members to the crumbling health benefits for our veterans, my military family has struggles on a daily basis that nobody cares about. The problems that I focus on are actually quite simple. I know what it’s like getting out of the military without a degree, even though I almost have three of them now (4 classes left for my Masters degree). But do you want to wait four to six years to start building a life for you and your family when you get out of the military? Nobody has time for that anymore, and nobody wants to go through the struggles that come with the years of trying for that degree. So why not start a foundation online now to create a residual monthly income that can grow and support your family for when you are ready to get out of the military? Would you rather gamble on a degree that has no guarantee to get you a job in four to six years, or start building an income now where the only person your gambling on, is you?
As far as being a veteran goes, all I see around me is a world of constant disrespect. What the hell does some kid who comes straight out of college know about performing under pressure? What pressure has he or she had to overcome that says that he or she is qualified to lead? And now that I’m out of the service, that’s my new boss? Are you kidding me? And that’s IF I’m even lucky enough to get a job since most companies today see a disabled combat veteran as damaged goods and don’t want to take the risk of putting us on their healthcare plan.
Let’s say that you’re 100% disabled, which means that you get a check from the government each month for around $1500.00, if you’re lucky. Now factor in the facts that your rent is around $800/month, car payment is about $350, insurance is about $100, cell phone bill is about $125, and you still have to feed your wife and three kids. So what do you do now? Most companies are not going to hire you because they’ll always go for the healthier, younger, less costly individual. You need to find another income, and you can’t sit at a desk all day due to your disability. The solution is to do it online.
The fact of the matter is that our military and our veterans have more value than most people give them credit for. They are hungry, driven, loyal, and angry to prove that they still matter whether they still wear the uniform or not. I say to become an entrepreneur, prove your value, and tell the rest of the world to kiss your ass!
Now for my cubicle peeps, my 9-5’ers, those that grind it out, day in, and day out. I feel for you, I really do. I know that you work hard for what you earn because I was there too. I know what it’s like to have to wake up to an alarm clock every single morning, drag yourself out of bed, get that coffee (or energy drink, in my case) into you, get dressed, and rush out the door to battle with the morning traffic. Most people are out of energy prior to even getting to their desk because they know what their day is going to be like. It’s going to involve that daily meeting where your boss complains that the numbers are not where they need to be. And you’ll sit there and take it whether you have your individual numbers already or not. Then once the meeting is over, you’ll scurry back to your desk and immediately start to dial your customer base. Oh, then even when you’re on the phone and working hard, you’ll still hear your boss yell “I need everyone on the phones right now!” And that’s the first of many that you’ll hear in the day. Then your boss will come by and ask you what you’re going to sell for the day. You’ll tell him that you’re setting up next month nicely since you already busted your ass to get your monthly numbers for this month. And he’ll then tell you that he needs more for this month from you. And you’ll have to say “yes sir” and forget about next months numbers because of those on your team who didn’t work as hard and now you have to carry them.
Oh yeah, and that’s where it gets really fun for you. Because instead of getting the figures that you need personally, you’ll do four more sales for this month and squeeze everything you can in to make your bosses numbers look good…… But then you struggle to get your numbers for next month, which you would have had if you didn’t have to save your bosses ass…..AGAIN! And then you get fired for not hitting the basic monthly goals.
And that’s just one scenario. Here’s one that I really love! Not only do you have to earn your vacation days, but then you have to ask for permission to use them. So even though you promised your kids that you were going to Disney World for Christmas, and have the vacation days to do so, “employee A” and “employee B” are good friends with the boss and they got their vacation time approved before yours so you now are not only working during the holidays, but you have to explain to your family that you didn’t kiss the bosses ass enough to earn the right to take them on a vacation. And what about that raise that you were hoping for? You worked hard enough for it, but you’re competing with about 1100 other employees for that 4% raise which will give you another $250 per check….and you don’t get selected because they can only give it to the bosses friends. Shouldn’t it be that if you exceed and excel at work, you should get paid for your value to the company? Well, I made the decision that I’m going to get paid what I’m worth based on what I do, not because of who I know! And the best part is, I don’t have to wait a year to give myself a raise, or ask for permission to take a damn vacation. There has to be a time when you need to step up, and say that ENOUGH IS ENOUGH! You deserve more than this, and you know it!
The solution for both target markets is the same. You need to create a life that you are in charge of. One that gives you the freedom to decide what is best for you, how you want to live, and what you are worth. The opportunity is out there for both of my target markets. I know this because I’m living proof. I belong to a community (a real community) that understands struggle, but lives in success. And the best part is, we all want for you, exactly what you want. And we are here to help you get there in any way that we can.
So now that you know who your target markets are, and what problems they have, it’s time to move on to the next part….
Where do they hang out?
This is where you really get into the mind of your target market. And again, it’s usually not going to be that hard, because they are more than likely just like you. So where does my target market hang out online? Military forums, benefits pages, chat pages, product pages, in social media groups……etc.. Is there a great book club that is out there? Are there entrepreneur seminars in the area?
What groups are you a part of? Start communicating with those groups. Don’t push your product on them right away because they will block you. You need to create rapport with them.
This isn’t something that is going to happen overnight. They have to be able to trust you and know that you have their best interest at heart when you do approach them with the opportunity, which is why rapport is so important. How many times in the past have you tried something that a friend has recommended? Would you have tried it if you didn’t trust him or her? Build the trust, build the rapport, and you will build your business.
I can build my business with my two target markets because I understand them, I understand their struggles, and I understand why making the change is so important to them.
The bottom line is, I can help you create and believe in your vision. But the most important step has to do with what you need to do for yourself. And that’s to make the decision today, RIGHT NOW, that you are worth it. You, and your family deserve more than what society says you should have. But again, the decision is yours. And it’s up to you to make it. But don’t make it if you’re on the fence and are not sure of yourself. I want you to make the decision because you know for a fact that you are worth it. I want you to make the decision because you know that you are simply sick and tired of being sick and tired. I want you to make the decision because you know that you have EARNED the freedom and the respect that you so badly deserve.
If you’re ready, I mean if you’re really ready, then send me a message on my Facebook show page, and we’ll talk about how I can help you reach your goals, regardless if you have a product already or not.
All the best!
The Motivated Mindset
P.S., if you’d like to listen to past recordings of my show, you can listen here: