As a marketing coach and consultant, one of the biggest and costliest mistakes that I see small businesses make time and time again is that theyre neck deep in their business and they still havent clearly defined their target market. They continue to try to be everything to everyone — thats just not realistic — and unfortunately, that usually ends in them being nothing to no one. As one of my marketing mentors, Dan Kennedy says it, its critical that you find your herd. Your herd, or your who as I call it, being your ideal target market — your perfect prospects and clients so to speak. Its critical that you understand that that your who is more important than your what. In other words, its more important to be clear on who youre serving than what youre serving them with. The what will most definitely change meratol in one way, shape, or form over time as you target markets wants and needs change. So how does one go about choosing the ideal target market for their business? Well here are my 5 factors to look for when choosing the perfect target market. 1. Theyre Hungry! Your target market should already want or need what you offer and the more insatiable the appetite, the better! The key word here is already. If they dont already want nor need what you offer, it will ultimately cost you much more in marketing dollars to educate them on what it is you do offer and why they should buy it now. 2. Theyve Got Cash! Simply put, it doesnt matter how hungry your target market is. If they cant afford to buy what youre selling, they may not be a good target market for you you simply cant draw blood from a stone.