Getting Ready for the "R" Word -or- Less is More
The "R" word is being bantered about and it puts a lot of us small business people on edge.
After we spend time wringing our hands, complaining about this, that, the price of oil and Washington - nothing will have changed; only we'll be a little bit older. What, if anything, have you done to prepare your business? What we're seeing in the markets today is not a surprise. It's been brewing for a while.
One of the things I've done is to re-evaluate my business and marketing plan which has resulted in a narrowed focus. Yes, you heard me right, NARROWED. My budget is tighter, my clients' budgets are tigher and competition is fierce. Therefore, networking, advertising, promotional efforts need to do more for me with less resources. How? Instead of focusing on every small business out there, I am now narrowing my focus and targeting a particular business type or segment; specifically, professional women business owners between the ages of 40 and 55 living in the Greater Portland area and south to Boston/MetroWest and the North Shore, MA.
While geographically it may not sound like I have a narrow focus, the demographics and psychographics are narrow. My message, resources and marketing efforts are very concentrated.
Think of a huge search light. The light beam is very wide, bright and lights up a very large area. Now think of a laser. The beam is narrow and focused on a pin-point. The beam is so concentrated that it can cut through steal. I need my message to be so focused and concentrated that it will cut through the clutter and the competition out there.
Of course I do and will continue to have clients that fall outside the targeted niche. However, I am not directing marketing resources outside this niche.
While it does seem counterintuitive, less IS more. Narrow your focus and you may just increase your business.
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