Defining Your Product & Service, Defining Your Market & Finding Them!

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Define, Define and Find!

I was at our 1-day Exposure Warrior recently and really took note of how many business owners don’t really understand how to create an effective message to tell people what they do in their business. When someone approaches you at a networking meeting or some such kind of social function, you need to be able to tell them what you do in a very short punchy sentence. In fact, you need to be able to write down what you do on the back of a matchbox. That means it has to be short to the point and informative so people do not to spend large amounts of time understanding what you do!

I’ve put this into a very simple to understand process!

It’s called define, define and find

The reason why most business owners cannot tell people exactly what they do is because they really don’t know themselves exactly what they do. This is the first define! You need to be very confident and clearly define what product or service that you are delivering, it needs to be crystal clear in your mind so that when somebody else asks what you do, you can accurately portray and let them know what you do without having to spend minutes describing or convincing them of what you do. If they have a confused look on their face after you have introduced your business – then you have a lot of work to do to get your message crystal clear!

Is your business well defined and do you know exactly what product and/or service that you are delivering? It is critical that you get this done in order to define exactly who your customers are and your target audience is?

This is the second define! Once you know what product or service you are delivering and have it well defined, what you want to do for them, and what solutions your products or services deliver to them, then you can go out and find the markets that you are after!

Most business owners and entrepreneurs never accurately define their product or service, the market that they are after and where their market hangs out. In many cases it is like going out from your business every day and looking for clients in all the wrong places – you may be networking, attending meetings, education groups, etc., yet you do not even know if you market that you are targeting even attends these events.

I had a student yesterday sit down and write out exactly who they were targeting. Once they had completed this I asked him what kind of events he was attending, and what the demographics of the people at those events were. He was amazed and realized that the events that he was attending were not where his target market hangs out.

Take the time to define your products and services, which markets you are targeting with them, and go out and find them and hang out in the right areas where your target market hangs out.

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Author: Colin Sprake is the CEO of Make Your Mark, a Canadian company of live seminars, online entrepreneur academy and live accountability groups that have helped 10,000’s of Entrepreneurs achieve rapid results in small business growth and development. Colin is a best-selling author of ‘Entrepreneur Success Recipe’ and trains for BMO, Sun Life Financial, Scotia Bank, T.D. Bank and lives by the tagline Business With Soul – putting heart back into business!