A taste from the interview:
Connie Kadansky (CK): I was talking with a fellow coach recently who was telling me about a client of hers who is in the business of skin care. My colleague was telling me that when she asked her client who her target market was, the client responded, “anyone who has skin.” As I continued to gain more information from the client, I came to realize that the lowest price service she offered was $300, which greatly limits the types of clients that she can work with.
Ana Melikian (AM): Your colleague is no different from many entrepreneurs who are just starting out. They don’t want to risk feeling constrained to limited to a certain group of people or “turning away money” from any potential clients. However, what they don’t realize is that by not choosing a target market, they are losing the opportunity to do their best work, to get people talking about them and for ultimately acquiring more business to get them booked solid!
CK: Why is it so important to choose a target market?
AM: Many entrepreneurs are running their entire business on their own, also known as solopreneurs. They are the accountant, the marketer, customer service and much more. Having focus is the secret to success. When you have a target market it allows you to focus on a group of individuals who consider you the “go to” person to answer their questions and provide advice on their issues. They consider you the expert.
However, not everyone in your target market is going to be your ideal client. Your ideal clients are those with whom you identify with based on their values and characteristics, not based on how much money they have or who they know. Ideal clients are chosen with your heart instead of your head. If your values reflect those of integrity, compassion, and positivity and you have a client who is constantly negative, admits being dishonest and doesn’t care about others, you are not going to be able to do your best work with them! So understand that not everyone one in your target market is going to be the right fit. It is up to you to choose only those individuals who inspire and motivate you. That is when you will do your best work and ultimately provide amazing results!
Listen to the full interview by clicking the player below.
Love to hear your comments and questions.