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Morning Shopping Éole Wind via Compfight

“They don’t have a clue, it’s bonkers.”

Henry shook his head as he drank his London Pride. Entrepreneurs and marketers for the last week had been hiring him to research blogs to help them promote their company.

“Almost every time, they ask me to find blogs that talk about their competitors or technology – not their target market”.

Henry helps people find blogs from which to write guest posts (I recommended his service in my newsletter). A large problem he encounters however is people not understanding the difference between their product and their target market.

Picture a man trying to sell air conditioning units. He works very hard to have his air conditioning units placed in all the air conditioning magazines. After six months of calling journalists and writing press releases, he finally gets some press coverage. There on page 32, his air conditioning unit is wedged between three other models from other competitors.

Looking at the coverage, he smiles and rubs his hands in glee. All that six months of hard work has finally paid off, he thinks. He waits for the phone to ring.

But the phone never rings.

As Ferriss writes, ‘the hardest place to sell a book is in a bookstore’. Those who buy air conditioning magazines are not the man’s target audience. No, they’re not. His target audience are people who are bothered by heat. Therefore, his target market are people who are in hot environments but uncomfortable with it. For example, European expatriates who now live in Asia.

These European expatriates used to live in cold countries. They now live in hot countries. They’re not used to it and are probably bothered by the heat. Therefore they could be a target market for air conditioning units. Focusing on blogs which european expatriates read (example) would be more fruitful.

Recognising your target market first and then asking which media do they consume (read, listen, watch) is important. Who are they, then what do they consume.

Thankfully to the entrepreneurs who have purchased Henry’s services, he’s a nice chap and points the mistake out. Most accept his advice, he said, some don’t.

Actions for you:

  1. Answer this on paper now: Who is your target market? Where do they live, how old are they, what is the problem they are experiencing? 
  2. Write this underneath your first answer: What media do they consume? TV channels, radio, online news, blogs… Make a list.
  3. Put a tick next to each media outlet you have approached already. Find the contact details of those you haven’t.

Popular culture celebrates the strong man who never gives up; The man that takes a beating and dies for honour. I’ve explained my views on this before (read – Those Who Refuse To Surrender Are Stupid) but I want to explore them further here in regards to ideas.

Whilst exploring the Christmas shop displays of London, I paused for a coffee and joined the table of another. Conversation quickly struck up and I learnt he had a startup.

Fantastic! I thought. Then I listened to how his startup has been ‘starting’ for the last twelve years, how he sold his house to fund it, lost his job and longterm girlfriend to it and still received no investment prospects.

Unfortunately, this is the ugly side to many startup stories. The side that gets shunned and tucked away. No one remembers the dozens of social networks before Facebook.

Whether or not this man’s idea was good doesn’t matter. When it’s been twelve years and you have only losses to show, it is not, as he said, “…all about how much Grit you have, right?”.

No. ‘Grit’ isn’t always good. If no one else can see the profit in your idea, if no one is willing to stick up their hands and say “hey! If you make it, I’ll buy it!” then something’s wrong and I think it’s time to give up. Especially if it’s been t.w.e.l.v.e. y.e.a.r.s.

Plenty of successul entrepreneurs shout that it’s all about determination and hanging-on in there. Which is true for a lot of the time, but it isn’t a rule that you should follow all the time, just as you wouldn’t take all the must-have vitamins and supplements advertised on TV.

When you should give up and move on is a delicate question to answer. There are many variables depending on the industry you’re in, but by and large if people can’t see the problem you’re trying to solve, it probably doesn’t exist or isn’t big enough (yet).

Now, it is true that you can create a need/problem through advertising (quad-ply toilet roll with flower-embedded sheets, anyone?) and other methods, but it will cost you an arm and a leg – as the man in the coffee shop learnt the hard way.

In answer to his remark, that it’s all about how much Grit you have, I could only muster the balls to crack a joke rather than tell him what I really thought, “If only you were in the de-icing business”.

Create your business in China, Communication Is The Key

Create your business in China

Creative Commons License Jakob Montrasio via Compfight

Peter Woolford has successfully undergone the process of developing a new DIY product in China. On Wednesday 23rd May 2012, he is giving a gave a free presentation to London Startups, my MeetUp group.

Peter navigated his way around communication boundaries, and created a product in the fastest growing economy in the world. Over thirty people have reserved their space already, so if you’re interested, move quick! This will also be an excellent opportunity to network amongst other inventors and entrepreneurs.

Learn more about the event and join London Startups to attend the next one
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