There Is Something You Can Do In This Economy

Tired of watching your sales and profits slip in these tough financial times?

While it’s true the wizards of Wall Street, left to their own, have certainly played havoc with our financial system and made making a living, much less realizing your dream, a lot harder – there is something you should know.

You can do something about your web marketing.

No, I’m not talking about writing your Congressperson, waiting for the bailout to take hold, or playing the lottery. What I’m talking about is using one of the simplest and most profitable marketing strategies on the planet and the one that most business owners ignore.

What is it? What’s the solution to making higher profits and to being successful in this economy?

Before I tell you the simple solution, let me tell you the mistake that most business owners make. Most business owners make the mistake of trying to be everything to everybody. They labor under the illusion that higher profits come from web marketing the broadest range of services and products to the most number of people.

Are you doing this?

Are you trying to appeal to multiple target markets?

If you are, you’re on the wrong track and you’re missing out on huge profits. Yes, I know some people want everyone to like them and I have one thing to tell those people. Get over it if you want to make money.

You’ll be much more successful if you focus your business and your marketing on a specific set of products and services and prospects. When you try to appeal to everyone, no one will see you as the go-to expert, or the perfect provider.

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The solution?

Focus your business on a profitable niche!

I know this sounds obvious but 98% of all business owners I talk to are trying to appeal to too many people. They are trying to do too much and as a result aren’t getting the loyalty and business of their primary target market.

You’re marketing should both attract and repel. If it’s so general that it doesn’t repel anyone then it won’t do a very good job of attracting qualified prospects.

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Imagine you wanted to open a restaurant that everyone would like. What would you serve? Well after you made your entrees low salt, low sugar, low fat, non-meat to satisfy the vegetarians, and non-spicy to meet the needs of people with sensitive stomachs, what you’d be left with would be tasteless gruel. It wouldn’t appeal to anyone and you’d go broke or be stuck selling it to hospitals.

Now imagine instead you only wanted to be the best restaurant for a specific niche. That’s what the “Gun Barrel” does, a restaurant my son and I ate at on ski trip to Jackson Hole this month. The “Gun Barrel” serves mammoth beef and bison steaks, as well as elk, and venison. The elk I ordered arrived practically dripping with blood and I’d asked for it medium rare, the most they cook their meats.

No, the “Gun Barrel” isn’t for everyone and it’s definitely going to repel vegetarians, vegans and the like. But if you’re a full-fledged carnivore, you’re going to love it. And while I’m sure some people avoid ever setting foot inside, it was packed with meat lovers and doing a brisk business.

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Is your business focused on a specific target market? Most people will say of course, but before you do take the following test.

If you asked five people to describe what you do – would they all give the same answer?

In the case of the “Gun Barrel” I’m sure you would. They’ve targeted a specific niche, providing steak and game, and hit it dead center in order to maximize their profits.

Could you focus your business more and increase your profits?

In the past few years, homebuilders have seen a huge drop in sales. As a group, they’ve taken a beating and most of the ones I talk to tell me there isn’t anything they can do – the problem is the banks.

I’d agree that Wall Street and the banks in this country have royally screwed things up, but I’d also say that most builders have it wrong. There is something they can do – they can go from being generalists to specialists. They can focus their business on where the money is in this market. And you can too.

Want to know how to focus your business to make more this year >>

Yesterday I talked to one smart builder in Georgia who had done just this. He’s focused his business on first time home-buyers and on empty nesters. He’s got a 2400 square foot design that is built to be expandable. It’s built with an unfinished second floor that’s ready to be completed. That way people pay for what they can afford, then when they have the money they can expand. Smart builder!

By specializing, focusing your business, you too can become the go-to expert in your industry. No you won’t appeal to everyone but you’ll attract a lot more qualified prospects, the people who will become ideal clients.

And there is a secondary benefit to specializing, to focusing your business. You’ll make more!

Think about – who drives a fancier car, who brings in the most money? The local doctor, the general practitioner or the specialist, the surgeon? In every case it’s the specialist who makes more money.

Interested in making more this year? Start here >>

-Charlie

P.S. One of the most common questions I get from people is how can I make more without spending a fortune. Focusing your business costs you nothing and can easily double or triple your profits.

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