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==== ==== Here are your business tips to help increase your profits. ==== ====

No matter whether your business is an online or offline business, at the beginning things are definitely the same. It's a chicken or the egg conundrum. Without a business you can't get customers, and without customers you don't have a business. How do you break this deadlock? Most small business owners attempt to blanket everyone they think may be, or should be, interested in a wide range of products or services that they could provide, in an attempt to find customers from where ever they can. Unless you have a huge marketing budget, or an already existing client base. Then in most cases this is not the ideal direction to take. Clearly understanding what your strongest product or service is, knowing exactly who your market are and working out how you can define your niche' and target it, gives you a much greater chance of success. Targeting only your niche and one specific market may seem like you are minimising your chances of success rather than trying to sell to a broad range of customers. But in reality you are much better off. Unless you have a very, very unique product or service then there is a good chance a larger business or company is already out there investing millions to market to the broad audience of whatever industry you are in. Trying to compete with these large companies and tap in to the broad market is usually a suicidal approach. Find a unique niche within your industry and focus on that market. You can always target other niches` as you grow. A good example of this I found myself in when I first started in the health and fitness industry. My product and service was being a personal trainer, and I knew that everyone that came to our gym would be better off with a personal trainer, and I also wanted everyone who didn't come to our gym to be able to benefit from my knowledge as a trainer, so I tried to spread the word far and wide about the benefits of having a personal trainer. WHAT A MISTAKE!

The frustration and money that that thought process cost me was incredibly deflating. Until I realised that firstly I was trying to educate people about something that at that time in their life they didn't want to know about, let alone pay me for, and secondly the competition for the general market of health and fitness was way bigger than me! Although my intentions were good, I needed a different direction. I found a niche within my industry! 49 year old women starting to show signs of menopause! Research had shown that to prevent or lessen the effects of menopause, correct exercise prescription was the number one preventative measure. Would any women around that age pay anything to prevent or prolong the onset of menopause? You betcha!! I had found a unique niche`within my industry. I could spend less money on marketing because I could target everything at my specific market. I became known as the expert in that field which then created more word of mouth referrals (saved more money in marketing!) and things grew from there. I still offered other personal training services but this niche` became my 80/20. It was this 20% of my clientele that funded the other 80% of my business. Online business is exactly the same except the numbers are much greater. Millions of people have access to a wide range of products or services, and there is plenty of free information available for that wide range of products. You need to find a group of people who would pay anything to get information on a problem, hobby or strong interest, from someone who seems to be the expert in a particular field because they focus on that field, then give them the information or product they are craving. Don't try to sell to the whole wide world. Think small to grow big!

Peter Meredith has been a small business owner/ operator for over 12 years. He hopes to help other small businesses avoid the pitfalls he has experienced first hand. Peter writes blogs and articles on the subject of small business, online and offline. For more stories of interest check Business Bits Blog! Learn about Local SEO and Small Business Internet Marketing.

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==== ==== Here are your business tips to help increase your profits. ==== ====

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