One of the biggest mistakes small businesses make is thinking that they have to sell to everybody. I know, it doesn’t seem logical to think that by limiting your market that you could actually sell more. But that’s pretty much the way it works. <\/p>\n\n\n\n\n\n\n\n
In a lot of ways it works the same way as a laser. Imagine if you had one of those lamps with the fiber optic lights bursting out of it — thousands of them in the shape of a ball. Each of those lights is a message directed at a specific customer. Now imagine that you had one message, pointed at one target — like a laser. And like a laser, you will slice straight through the clutter and hit your market on target. <\/p>\n\n\n\n
Another big mistake is to find a niche market without a lot of competition. If there is not a lot of competition chances are you will not make a lot of money. So as you can see you need to find a happy medium – market that is specific enough and that has a good amount of competition.<\/p>\n\n\n\n
A niche market is made up of your target audience or ideal customer. For instance, someone selling swimwear may wish to try and reach out to lifeguards, college and university competitive swimmers, and swim instructors. An individual who is looking to offer daycare in their home should look to get the attention of single parents, pregnant women and working parents.<\/p>\n\n\n\n\t