In a previous post, I provided a detailed description of Jim Morgan’s WoodProfits method for those interested in starting a woodworking business. In this post, I pass along Jim’s advice on how to identify your target market.
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If you’re interested in starting a woodworking business, you should check out Jim’s program. These are Jim’s claims, not mine, so I encourage you to consider his offer and decide for yourself whether it is right for you.
Identify Your Target Market
If you want your woodworking business to succeed, you need to identify your target market. Your target market will be the ideal people that will buy your products without much trouble. Here are some tips to help you identify your target market.
Talk to People
You need to talk to your friends and neighbors and get their advice. Let them freely tell you what they think of the projects you’re interested in building. Ask them for their suggestions and ideas.
Know Your Competitors
You need to know your competition in the field. What do your competitors have to offer? What can you provide to your customers to make you stand out from the pack?
Use the Internet
Social networks are a great way to discover what people like. You can read competitor reviews on social networks to see what people want. Then, once you get going, you can use social networking to garner your own reviews to help you increase your customer base.
Set up social media accounts and allow people to post suggestions and ask even questions on your page. Engage with them as they do. As you interact with customers, you will be able to identify your target market with even greater precision.
Use the Focus Groups
Get a group of people together and ask them what they think you need to do. Have them review your products, tell you what needs they may have, and get just general advice. You never know where you might find the idea that proves to be the key to your success.
Know Your Customers
If you can identify your target market, it will be much easier to produce the products that are most likely to sell. Do your research beforehand. If you do, you can limit your expenses to the materials you need.
Also, identifying your target market will help you effectively market your products, further increasing your chance of success.
If you’re interested in turning your woodworking into a business, take a look at Jim’s program. Consider what it has to offer you and make up your own mind. If starting a woodworking business is a desire of yours, you should at least check it out.
You’ll be glad you did.