This course will provide you with 5 tested and proven steps in 5 sections that will help you get started on knowing and understanding the critical fundamentals required when building a successful business. Either you are an entrepreneur, a business owner or a wannabe entrepreneur, following these steps and examples will separate your business in your chosen market.
A key fundamental required to build a multi million revenue business is to create a market dominating position. It is the strategic position you choose for your business or start up to separate your business from the competition. Let us walk you step-by-step and guide you as you begin to implement this critically important phase of your business.
If you look like, smell like and feel like your competition, then you're forever doomed to compete on price. You MUST separate your business from your competition in order to dominate your market. This means you MUST create a market dominating position and innovate your business in the process.
In section 1 any entrepreneur, business owner or wannabe entrepreneur will learn how to:
- differentiate your business from your competition choosing strategic positioning
- stake out a "market dominating position" for your business
- discover five ways to separate your business from all others in your industry
- learn the 3 categories that will make your business unique
- learn the secrets to not using price to differentiate yourself
In section 2 with the help of the physical profile discovery, you should have a clearly defined profile of the physical characteristics that define your target customer.
Unfortunately, the physical profile doesn't provide us with the complete picture. In fact, we consider the physical characteristics to be about 10% to 20% of the picture. The remaining 80% to 90% are made up of what we refer to as the emotional components.
Section 3 will provide you with tools and approaches that highlight a key component in identifying your target customer emotional profile.
Where the physical profile makes up the physical components that describe your target customer, the emotional profile defines the emotional components. This identifies in the "available universe" of prospects who NEED what you sell, those who WANT what you sell. The contents of this section is designed to help you:
- Begin to determine the emotional traits of your target prospects
- Identify the general emotional characteristics of your target customer
- Know what to say to your target prospects when you begin preparing your marketing program
With the help of the physical / emotional profile discoveries, you should now have a clearly defined profile of the physical and emotional characteristics that define your target customer.
Please remember that the physical characteristics make up approximately 10% to 20% of the success equation for a business owner or entrepreneur and startups. The remaining 80% to 90% are made up of the emotional components.
Now comes the critically important part. Now that you have listed the specific emotions as they apply to what your target customer's really WANT, you need to select the one that most resonates with what you feel passionate about, and make that your "niche" market.
Section 4 is the step where you now begin to separate your business from your competition. Selecting your niche market means you are now electing to STOP being all things to all prospects. You're now creating a business that's "unique." The section will provide you with information that highlights another key component in identifying your target customer. The contents of this section are designed to help you:
- Select from your list of emotional traits the one area you are most passionate about
- Begin to build a business that is truly unique from all of your competitors by leveraging on your passion
- Understand the importance of selecting, combining different offerings of multiple products / services
-Redefine your physical profile traits to fit your specific niche market
- Complete the process of building a business that is truly unique
On completing the first 4 sections, with the help of the physical / emotional profile studies, you should now have a clearly defined profile of the physical and emotional characteristics that define your target customer. And you should have selected the one switch button (emotional characteristics) or a combination that you feel most passionate about. That trigger or its combination has now become your niche market and will enable you to later dominate your market. Then follow another critically important part. Now that you have selected your "niche" market, you must go back to your physical profile and revise it.
Your original physical profile identified the available universe of everyone who NEEDS what you sell. In most cases, that could be just about anyone. But with the selection of a specific niche market, you're electing to serve a smaller segment of that universe, a universe that WANTS what you sell.
It's important to go back and redefine the physical profile of your target customer. You may discover it has narrowed dramatically. This makes your target customer much easier to find, identify, and market to.
You're almost done developing your Target Customer Profile. One of the most important fundamentals in business today, and one that your competition completely overlooks as a business or start up.
By completing this crucial first fundamental, you're now positioning your business so that it's "unique." This is the first step toward separating your business from your competition, and will enable you to later dominate your market.
Finally, section 5, critical steps in business fundamental that will position your business as the only business in your industry that truly offers extraordinary value. You're going to identify the typical emotional trigger your prospects experience within your niche market... You're going to analyze whether or not you currently offer a solution for those various issues. You're going to ask yourself what more COULD you do in the way of innovation that will make your business a no-brainer choice for your prospects to do business with. And you're going to list all the benefits your prospects will realize once they use your innovations.
This creates extraordinary value, and it compels your prospects to buy from you and you alone. In fact, your prospects will quickly realize that they would be missing out if they bought what you sell from anyone else but you.
The information covered in this section is designed to prepare and to help you:
- Specifically define the emotional switch or hot button or triggers you must consider within your niche market
- Gain clarity as to whether or not your current way of doing business solves the issues
- Create highly targeted innovations within your business and the benefits to your customers once you do
Remember that this course is a vital component required for business success, so take your time and really learn the information covered and DO THE ASSIGNMENT. The content was developed et tested with small and medium sized businesses but still valuable for any business struggling to position itself in the marketplace. Take MASSIVE IMPECCABLE ACTIONS by applying these steps to your business. Let agree here without the right business mindset, discipline, determination and persistent applying these steps, there will be no satisfactory results. These steps tested and use with our clients are results oriented steps that will help you in your marketing program. You will be now ready to speak to your prospect hearts. You will be available to offer solutions, benefits from your products and services than their features. For more on how to communicate better your message to your prospects, check our upcoming course on marketing messaging: The 5 Proven Steps To Persuade Your Prospects. Enjoy your entrepreneurial journey.