13 Comments

  1. Mike Pedersen
    September 26, 2010 @ 8:28 pm

    This is excellent advice. I think anyone in business should have a target market (niche), and then become the expert in that niche. I really resonated with this post, and am glad you put it out there.

    Cheers,
    Mike

    Reply

  2. Wendy Hewlett
    September 27, 2010 @ 6:04 am

    That video is hilarious! It makes sense to define your target market. My target market is people just like me. I’ve suffered from chronic pain for over 17 years and the product that I now sell is responsible for giving me back my quality of life. So I am targeting people just like myself, who either have chronic pain or chronic disease. This product is the reason that I got into Network Marketing. I figured if it could help me this much, it will help a lot of others who are suffering needlessly.

    Great “cool” post … I’m still laughing about the video.

    Wendy

    Reply

  3. Deb Augur
    September 27, 2010 @ 1:54 pm

    Hi Pat and Lorna,

    Loved the video! 13,318 years! LOL.

    I wrote a similar post last week. You may not be surprised to hear that a lot of people that call me about developing a website for them seem to think that the everyone in the whole world is their target market. I’m going to have to remember that it would take 13,318 years if you spent even one minute talking to each person on the planet. That really helps bring the point home!

    It may be that people don’t understand how to narrow down their ideas and research a target market. It sounds a bit off-putting or technical to many, which is a shame because it’s not really difficult at all once you understand the process. There are even software programs to help, some are even free. Hmm… sounds like a good follow up blog post!

    Reply

  4. Nelson Schroeder
    September 27, 2010 @ 5:46 pm

    I want a Pancake too. Narrowing your niche is very important. I narrowed mine to Old people who can still remember what it was like way back then. Doesn’t work for sales but it does give comfort to many as they think about how far they have traveled in life. Maybe I should be selling burial plots and caskets. Hmmm

    Reply

  5. karin@social bookmarking
    September 27, 2010 @ 10:48 pm

    Hi guys, I obviously agree with you. You need to narrow down your niche. However, I am not sure I agree with the way you describe to find your target market. What you describe is 101 OFFline marketing. It holds true there, without a doubt. However, online the rules are different. You marketing is different, and what is more important, the hunter has become the hunted. With that I mean that the customer will look for the sales person, not the other way around. This has far stretching consequences. If a client comes to you, you better be able to solve their problem, whereas when you have to find your client, you need a precise description of your target market. Otherwise, you will never be able to find them. let alone sell to them.
    This is why I believe that in the online world, you need to be more focused on a problem and its solution, than on whether you clients are all from the same target group. They may not even hang out together.
    What do you think. Do you agree with the difference in approach? Looking forward to your reply to this message.

    Reply

  6. Mr. Personal Development Michael Berry
    September 28, 2010 @ 1:31 pm

    Hey guys that video is really funny, but more importantly makes a great point. Since our business is personal development products from our 12 month home study program to our seminars we’re targeting two types of individuals. Those that are already into personal development, maybe a life coach or just seriously into it, and those that have owned a franchise or looking to purchase one. Bottom line we’re looking for the big thinkers that are willing to invest in themselves.

    Thanks for sharing this,

    Michael

    Reply

  7. Debbie Stevens
    September 30, 2010 @ 12:14 pm

    That was the coolest, funniest video ever! Thanks for sharing. Along the lines to what Karin said, my offline market is a very specific niche, but online has not really worked quite the same way. A lot of that has to do with the social networking coming first and creating relationships which later lead to business. That has given me quite a diverse business base. Keep the coolness coming!

    Reply

  8. Dr. Adam Sheck
    September 30, 2010 @ 9:39 pm

    P&L,
    Great video, funny yet true. The concept of niche is why I became “The Passion Doctor” to help couples bring back the passion to their relationship. I work with singles on relationship issues as well, and also existential and career issues, yet having a specialty to market is definitely the ticket.
    Thanks so much,
    Adam

    Too funny line: I am so broke I can’t even afford a pancake!

    Reply

  9. Gary Young China Sourcing
    October 2, 2010 @ 10:55 am

    Pat and Lorna,

    I have this curious craving for pancakes now.

    Anyway, this is an often overlooked part of selling because targets are sometimes hard to identify and even harder to reach. In my case I need CEOs who manufacture in the US or who sell commodities already made in China and want to go factory direct. I find that a very challenging market to reach over the internet. But great advise and an entertaining video.

    Reply

    • Pat & Lorna
      October 4, 2010 @ 9:41 pm

      Gary,

      It does put pancakes in the mind, doesn’t it?

      Yours definitely is a difficult niche to connect with online. But you never know…

      Thanks for the note…
      ~ Pat and Lorna

      Reply

  10. Howie Perks
    October 4, 2010 @ 12:00 pm

    “I want to reach everyone”, “do you want to sign up under me, there is a special!” LOL

    That is so classic and have heard that same type of conversation many times 😉

    The riches are in the niches and knowing your market is necessary for success!

    “Will you buy me a pancake?” …ha

    In Success,
    Howie Perks

    Reply

    • Pat & Lorna
      October 4, 2010 @ 9:33 pm

      Howie,

      “The riches are in the niches” is so true… and a very cool line.

      And sorry, no… we won’t buy you a pancake 😉

      Thanks,
      ~ Pat and Lorna

      Reply

  11. Lorri Ratzlaff
    October 22, 2010 @ 5:11 pm

    These guys are hilarious, and I love to incorporate humor into everything I do, even business! (when it’s appropriate of course 🙂 )

    Thank you for such a great pot Pat & Lorna – really made me realize that I generalize a little too much. I need to start targeting better. I’ve just started a new business, and am excited and kind of all over the map, so need to take a tiny step back and plan better, that is for sure! I am in the health and wellness niche, and am quite over the moon about my future!

    Thanks for your continued fantastic content! I’m always glad when I get a chance to read your blog!!

    Cheers …

    Reply

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