Quote of the Week

“Do not be embarrassed by your failures, learn from them and start again.”

~ Richard Branson

This Week’s Tip

How to Identify Your Target Market: The Foundational Step for New Entrepreneurs

Listen, this is the moment where most entrepreneurs get it wrong — they think their product or service is for everyone. Spoiler: if everyone’s your customer, no one is.

The power of business is in focus. When you know exactly who your ideal customer is, where they hang out, what they want, and how to talk to them — you unlock leverage, scale, and consistent sales.

So how do you go from “I think this is for everyone” to “I know exactly who will buy and why”?

Step 1: Start With the Problem, Not the Product

Your market isn’t people who want your product — it’s people who have a problem that your product solves. What is that problem? Be clear, be specific.

For example, if you’re selling a fitness coaching program, your market isn’t just “people who want to work out.” It’s “busy professionals, aged 30-45, who want to lose 15 pounds but have zero time to go to a gym.”

Focusing on the problem forces clarity around who you serve.

Step 2: Get Demographic and Psychographic Clarity

Demographics are the basics — age, gender, income, location. Psychographics are the mindset, values, lifestyle, habits, and fears.

If you’re vague here, your marketing will be weak. Say you target “young adults.” Cool. But are they students, entrepreneurs, tech workers? What do they value? What keeps them awake at night?

The better you know this, the better you can craft offers and messaging that resonate.

Step 3: Find Where Your Audience Lives (Literally and Digitally)

Who do they follow? What websites do they visit? What social media platforms do they use? What groups or forums do they belong to?

If you want to reach them, you need to go where they are. Don’t spray ads everywhere. Laser-focus your marketing to the channels your audience actually uses.

Step 4: Study Your Competitors and Customers

Look at competitors who serve similar problems. Who are their customers? What are their pain points? What do their reviews say?

This gives you clues on where you can differentiate or double down. Also, if you already have some customers or prospects, talk to them. Ask why they bought, what problem they were solving, and what they love or hate about your product.

Step 5: Build an Avatar — Your Ideal Customer Profile

Put a face and story to your ideal customer. Give them a name, a job, a daily routine, struggles, goals, and dreams. This makes your marketing and product decisions laser precise.

When you create with a real person in mind, your messaging stops sounding generic and starts sounding authentic and compelling.

Why This Matters More Than Anything Else

Most new entrepreneurs spend tons of time building “better” products or chasing new ideas. But better is only better if it’s for the right people. The wrong product for the right market = no sales. The right product for the wrong market = no sales.

Focus on the right market, and your sales, marketing, and even product development become easier. You get more for your effort, more leverage, and that’s how you build a business that scales.

5 Action Items to Identify Your Target Market NOW

1. Write down the top 3 problems your product or service solves — be specific and clear.
   

2. Create a detailed customer avatar including demographics and psychographics.
   

3. Research where your ideal customers spend their time online and offline — social media, forums, events.
   

4. Analyze your competitors’ customers — read reviews, testimonials, and social proof.
   

5. Interview at least 5 potential customers to validate your assumptions about their needs and habits.
   

This Week’s Resource

The #1 Business Planning Myth—Busted

Did you know?

90% of startups fail because their business plans are incomplete or unrealistic.

Most people think business plans are just paperwork.

They’re dead wrong.

A solid business plan isn’t a nice-to-have.

It’s your survival tool.

Yet, creating one takes weeks. Months.

That’s why founders quit before they start.

What if you could create a professional, investor-ready plan in minutes?

PlanPros uses AI to do exactly that.

No fluff. No stress. Just results.

Trivia

Question: Who founded Amazon?

Answer: Jeff Bezos — Lesson: Start with a bold vision and evolve based on customer needs.

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