Tuesday, September 4, 2007

In Search of the Finish Line?

One the most common mistakes a new entrepreneur makes is to launch off into business without knowing who their target market is. They may have a great idea, a great set of skills, all of the tools and plenty of time and money – yet a few months later they are struggling to make ends meet and cannot figure out why.

How can you seemingly do everything right and still fail?

Imagine that you are in a foot race. You line up with all of the other runners and when the gun goes off you run like the wind!

You pace yourself well. You breathe right. You use great technique and maintain proper form. Anybody watching would say ‘there is a natural runner!’.

You run your heart out – doing incredibly well and feeling positive you will surely win the race.

Time passes and you realize you no longer see any of the other runners. You feel a thrill because surely that means you are so far out in front you do not have competition anymore.
More time passes… and more. And you wonder where the finish line is. And finally it occurs to you that maybe – just maybe you missed it.Photo Sharing and Video Hosting at Photobucket

Alright… so that is a silly story.

But you get the idea right? Unless you run for a certain goal – you will not know when you have met it!

That is what it’s like when you get up in the morning and try to run a business without any idea about who you are aiming to serve.

This is why knowing your Target Market is so important.

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