In this Treasure Tuesday, I discuss a critical question that most entrepreneurs don’t know how to tackle. For many, this question is, in fact, fear-inducing.
What I’m talking about is that if your products or services could apply to lots of different marketplaces, you have lots of different market segments you could tackle. Still, if you’re not a gigantic business yet, you probably don’t have the resources to pursue all these different niches.
How Can You Figure Out Which Market Niche To Focus On?
The fear is that we may pick the wrong one and leave all this money on the table that could come from people in different market niches. Trust me; I am familiar with this question all too painfully for my business.
Recently I’ve come up with an interesting idea: You can test quickly which market niche responds well to you. Use LinkedIn, where many professionals hang out. Start a conversation with them and see, okay, if I start 50 or 100 conversations with people in this niche XYZ, what is my response? You can also test different messages.
Does This Really Work?
That may seem too easy to be effective, but in my experience, this approach works.
I’m learning a lot from doing this myself. I get to connect with some pretty cool people that way. I invite you to have genuine conversations. Connect, don’t sell. See what you can learn. I promise you that you will learn more from this than sitting in your office thinking about it!
I think the approach is so valuable that I wanted to share it with you. I invite you to test it and let me know how it is working out for you. Drop me a line. I always love reading your comments.
P.S.: I appreciate you commenting and sharing this Treasure Tuesday with others. Thank you!