This is the first of a two part post on the subject of Business Consulting with small businesses. You see, I speak with a lot of small business owner and am constantly suprised at how many of them try to do everything themselves, are generally resistant to change are typically not marketers and in most cases have never made use of an expert marketing consultant to help them to get where they want to get to, in as short as possible time – here goes …

It is a matter of course that businesses will continue to make use of the skills of strategic business and marketing consultants. We see this on a constant basis with the larger corporates filling in the gaps of knowledge and skills as a matter of course by hiring in professionals who are skilled in specific areas that are needed by the company at any given point in time.

When it comes to dealing with some of the smaller companies we see that it is not uncommon for those business owners being wary of hiring in business consultants, for many and varied reasons including the fact that they feel inadequate and not in charge of all of skills required to run their company.

We know that that is really the wrong view to take, and in actuality that view is really far from the truth. As mentioned above there are many very successful people in business who use business consultants to help them amongst other things to develop their niche marketing strategies. The thing about these specialists is that they can take a look at your business with an unbiased and impartial view. These specialist should be looked upon as an editor of a newspaper. When people write articles for the newspaper, often they cannot see the mistakes that they have made. The editor takes the article and fine tunes it to look and read the very best that it can.

… More on this in this business marketing strategy post

During a Business Consultation where I normally spend time working on client’s Marketing Strategy I spend time

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instructing and coaching clients on Niche Marketing or Market Segmentation. Unfortunately many small businesses and solo preneurs fail to spend time to work on the Market Segmentation strategy which should form a part of their overall marketing strategy. In turn this means they often spend time selling their products or services to the wrong or an inappropriate niche in the market place.

So what does Market Segmentation entail ? To get to grips with Market Segmentation consider various ways we can segment the population i.e. by :-

  • Age
  • Race
  • Earning Capacity
  • Living Location
  • Marital Status

… and so the list can go on. Do you get the idea ? the point is that the segment of the market that you decide to sell your product or service into will determine your pricing, delivery, packaging and related strategies.

As we live in a diverse world with a global market place market segmentation or niche marketing plays a critical role in our efforts as business people and will continue to do so. In order to take your business forward keep market segmentation in your thoughts and consider this as you discuss where you plan to take your existing or new product. This will help you to make more money and to achieve the success that you have in mind for your business venture.

If you need help with your Market Segmentation or Niche Marketing strategies, get in touch and let me have your comments. You also wish to take a look at http://www.BusinessmansEncyclopaedia.com/ which is a resource I put together to help business people wherever they may be in the world.

Stephen C Campbell