Being the Expert in a Market Segment

Back from summer vacation! This week’s column will introduce the idea of market segmentation and its application to growing YOUR business or self-perception. Focus is key, but not enough. Without the right audience, the right terminology and that’s willing to put the MONEY on your product and/or services there’s no business…. Being specific about our market segment sets the stage to: Becoming the go-to person for a specific market. Having the clients come to us by being specific! Building our name and brand in our market and organizations. It’s about making specific versus general statements which don’t appeal to anyone in particular. I’m going through this process now as I move forward in my business with my NEW international business mentor (Steve Mitten from Canada) and his year-long program/support group. So I’m passing on my learning to you!!! Feel free to share YOUR personal stories too…

REMINDER: Our next S&G Entrepreneur Networking Bazaar event in Raanana (sponsored by inHaSharon) is Sunday 13 September 7-9PM at Coffee Bean & Tea Leaf – 141 Ahuza Street (corner of Ben Gurion). Call or email me to register! All entrepreneurs, small business owners & service providers are welcome! See pictures and testimonials: http://www.u-solve.co.il/u-solveresources-raanananetworkingjuly09.htm

Be Specific about who you Serve
Target the Who, What, Where? Be specific about the pains and struggles of your target clients in order to get their attention! Therefore, you must be very specific about who they are.
In my case it’s stepping away from the sweeping general statements of entrepreneurs and international leaders. To specifics like: a) women entrepreneurs and service professionals in hi-tech who are struggling to transition from work to new businesses or careers, b) new olim in hi-tech or entrepreneurial businesses who are struggling with Israeli culture and “protexia” in their new start in family, business and career c) small business owners in technology who are growing from 1-person to team operation and struggling with management, marketing and operations technology, d) young managers in hi-tech who move into new managerial roles are struggling with new managerial skills/activities, delegation and strategy, e) women managers and executives in hi-tech who are climbing the corporate ladder and struggling with glass ceiling and balance of work and family, f) virtual and cross-functional teams in international hi-tech organizations who struggle with communication, coordination of tasks, customer support and common language that effects profit, project schedules and business bottom-line.
How does this enable you to help with referrals? Or enable to catch attention to specific prospects?

Know Pain Points and Struggles. It’s illustrated above. It takes knowledge, research and always listening…

Zone into Your Personal Interest and Passion. Don’t forget to do what you LOVE, not just the MONEY…

Be True to Your Individual Strengths. Inside-and-out. Look at what’s easy for you. And how others will be attracted to you from your background, experience and skills. You are truly able to be the EXPERT!!!

Is the Money there? Don’t get “tricked” into areas which you LOVE and are the EXPERT, but no matter what you do, there’s no WILL TO PAY…

Check Ease-of-Access to Prospects. Make it easy for yourself to find and attract your audience. Via existing groups, etc.

Spread the Message to your Network!
Open yourself to the Market. Research. Think. Interview. Survey. What are the existing solutions? What is your added value? Be flexible to change and drop what doesn’t fit. It’s a continuous process. Be comfortable and have fun with the discovery! Should be natural and flow…

Meet Prospects, Clients, Friends and Network! Pass on the word. Get feedback. Modify. Target the people who you want to buy your products or services…

It’s good to be back!!! Hope to see you on Sunday for our 3rd meeting… Feel free to invite your friends…

To your success and growth with fun and collaboration!!!
Gloria G. Kinrot
YOUR Professional Business Advisor, Mentor & Coach (CPCC)