Developing Your Target Marketstring(29) "Developing Your Target Market"
In the second edition of my book “Networking like a Pro”, I share one of the biggest mistakes I see business professionals make. It is trying to be everything to everyone. Having a target market for focusing your efforts makes networking more effective.
Staying in Your Lane
Have a clear understanding of who your ideal clients actually are. This is your strategy. When you try to be everything to everyone, you wind up being very little to anyone. Identify the types of businesspeople that make up your target market. This allows you to better focus your resources in the areas that are most likely to provide success.
Spheres of Influence
The most successful networkers have developed a thorough strategic planning process. They have deepened their relationships with a variety of people across diverse networks. A sphere of influence is a group of people who are most likely to work with you. To determine your spheres of influence take a look at which of your past and current clients you enjoyed working with the best. Then, determine what they have in common. Look for similarities in their businesses or personalities and write down a few of them as your spheres of Influences.
Once you have established two or three target markets, focus your networking on them. Building your business is all about leveraging your strengths within the context of your prospects’ needs, and then networking with as many of those people as you can.
Follow these steps and you will build a great foundation to understand and develop your target market. Find out more about this topic in my book, “Networking Like a Pro: Turning Contacts into Connections – Second Edition“. Please go to my website at https://ivanmisner.com/books/ to learn how to purchase any of my books.