Most big businesses that we’re familiar with, started because the founders faced a real-life problem, they then got the idea, and built the business around that.

You 100% must really understand the target market. You need to be able to answer this question:

Who’s your target market?

If you answered, “everyone”, as many new start-up business owners do, it’s pretty easy to understand why you’re not getting customers.

Marketing is a One to One focus

When you read marketing material, you read it as one person.

Marketing channels on the other hand are one too many. Very few business owners actually talk to their customers one to one. This is why why we rarely resonate with marketing because it’s not speaking o us.

• Do you really intimately understand your target persona?
• Do you understand what makes your target persona buy from you?

When you want to reverse-engineer a buying decision, you need to understand the compelling reason to buy. That comes when you solve a problem for your target persona.

The Gap

The gap between where your target persona is now, and where he/she wants to be is known as the “gap”.

The problem gap comes from the gap between your target persona’s negative and positive psychology.

Frustrations and fears – these are the negatives.

Wants and aspirations – these are the positives.

If I was to target 30-year-old males who anted to get fit, I’d first understand:

#1: their biggest frustration – get off the couch and stop drinking beer

#2 All they really want is to fit and healthy to make an impact on their families.

Then I would know… that to market to this person, I’d have to give them what they want.

People don’t know what they really need. If they knew they needed it, they would have already bought it. People only care about what they want.

And above all, people want their problems solved.

How to achieve this

1. Identify 5 people in your target market. If you already have paying customers, these are the best choice.
2. Ask them for a 20 min interview. Buy them coffee. It’s worth it.
3. Interview them to get these results: wants, aspirations, frustrations, fears, personal identity.
   • Example of a frustration question – When it comes to being an entrepreneur, what challenges do you face

   • Example of a want question — When it comes to being an entrepreneur, what do you wish you had?

4. Compile it and leave out those answers that are outliers.
5. Put all the negative answers on the left side. Put all the positive answers on the right. In between is the problem gap. You now understand your target market.
6. Focus on creating marketing messages and products that solve these problems.
7. Profit from selling the solution

 

P.S. Whenever you’re ready… here are 4 ways I can help you and your coaching business right now:

1. Join our FREE Facebook™ group, the Scalable Business, and connect with coaches who are growing too – it’s our Facebook™ community where the sharpest business coaches on the planet learn to get more money, deliver more impact, and get more freedom, CLICK HERE and join now!
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