#Business “How do you decide your Market Place?”


Before you start trading you need to decide what and where your market is.  Simple I hear you scream.  But do we really sit down and think before we leap into action? Have we really thought about where the market is, if indeed it exists, and what message we need to send to attract customers?

So let’s start with the obvious one. Who do want to trade with?  Now at first glance you may think this is easy, but just consider where you will be trading from. Do people have to find you? Is it a destination shop? Has it got passing traffic? What are the Deomographics? Bus Route? Schools or Businesses nearby on route? Old or Young Population? Day or Night, or Both? and so on.  You cannot decide your market until you know these simple facts.

Venue or Internet sales? Could be both!  If the Internet, how wide a distribution range will you deliver to, try to attract? How will people find you? Where does your target market go to find the products you sell? SEO at this point vital.

Are your customers Domestic or Commercial? or Both!  Do you need to tender for work?

Dependant on whether Domestic or Commercial you will decide your marketing strategy. They are completely different, and need a different method to attract.  More in a future Blog.

What is the least you will sell product for in order to make a profit?

How many hours will you need to work to make a profit, Is it worth it?

A day’s hard work as a Tradesman has a value in £’s as well as sweat.  Learn to say NO, and use time to find better paid work.  Let the other man work for nothing!

Hopefully, this has made you think?

More tomorrow.

As always you can reach me at FYCreatives, Blackpool on 01253 477147, or Orvia on 01772422242

Kindest thoughts, Geoff Reeves

Feedback is good, please pass on for me

 

 

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