Niche Marketing and Business Planning Tips

When coaching business entrepreneurs on a Niche Business Plan, we discuss the:
Five important tips before you start in preparing your Business Plan!

1. Your business plan will tell a compelling story about your ideas for your business, explaining who, what, when, where, how and why.
a. Ex: Who – pet owners – this is who you will be marketing to;

b. What – grooming – this is your product/service and what are your (and your competition’s) strengths and weaknesses;

c. When – availability and when do you expect to start earning money;

d. Where – Santa Ana, CA and where your clients are and where your competition is located;

e.  How – mobile – and how is your market research being done and how can you overcome obstacles; how does your product/service compare with your competition;

2. Your plan will show the focus of your business – with clarity leading you and allowing for inspiration.
3. Define your business purpose, goals, and objectives to guide your business – be amazed where this takes you.
4. Writing a business plan can guide you, give reason and organize the ideas of your business. Helping you focus – which definitely helps you understand your business and your target audience.
5. A good business plan is an active document. It grows and changes with your business activities and your own growth.

— Write out – journal – how you think you will stack up in target audience’s minds.
— And remember, in our example above – that you cannot be all things to all people – we took pet owners who need mobile grooming in Santa Ana, CA.
— Think about your competitors from your research – in a few words, state how you think they compare with you – how you are different. You may start seeing your own uniqueness – and see how you can market this.

Your Niche
Now that you have analyzed your niche possibilities step by step, your product/service, your target audience, and your competition, you have a path to follow and know how and where your own niche fits into the world – either online or on the road.

It’s like having a flashlight as your walk through a foggy night. That is a business plan and that is what business coaching is.

· A business plan describes all aspects of your business. Take full advantage of this knowledge in your marketing strategies. You will see a definite change as you work through building your plan.

Donna Ward
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Niche Marketing and Business Planning Tips

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  • February 10, 2011 at 1:48 pm

    I’ve found in speaking with many people regarding in starting a business, the business plan scares them and they never start the business. I spoke with Jenny Ford of Monkey-Toes and she mentioned she didn’t have a business plan. But I think either way can work, but it’s better to have it all mapped out via the plan.

    • February 11, 2011 at 6:57 am

      Thank you so much for posting on my site – You too, have a great site of info.
      You are right about business plans – I think sometimes we need to just get started, following our intuition – It seems that as we grow and many roads open as choices we do consciously visualize, or plan for the future, and create a reminder system or plan of action to implement these new changes.
      Talking with someone in the ‘know’, like a coach or a friend of experience, is a really great way to get it out of our heads!
      It’s like taking the time to create a financial forecast or plan – instead of just dropping money into a savings account – you forecast what you will do with your future.

  • February 16, 2011 at 2:12 pm

    Hi Donna. I think a business plan is very beneficial to any business. I have owned 2 brick and mortar businesses in my career and both required an extensive plan before financing was discussed. However since starting an online business can be done for almost nothing, most don’t consider it. I believe if I had a business plan for my online business it would have moved forward quicker than it did.

    Great post!
    Celene Harrelson

    • February 16, 2011 at 8:08 pm

      Thank you, Celene!! Love that we are becoming more acquainted! You are a leader in the business :O Virtual hugs!

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