<aside> 💡 It's recommended to create your first business/brand targeting an audience you already know well, ideally one that you are a part of.
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For example, I am targeting creative entrepreneurs in their 20s who want time freedom to travel and financial freedom to provide for their families and want to create content to build an audience for their brand or business. As someone who also belongs to this target market, I can relate to the needs of others who fall under the same category. I have more experience than those just starting so I can offer guidance and insights toward their growth because I know this type of person. I have gained a lot of experience in my industry and now, in my late 20s, I am conducting market research to understand the mindset of people in their early 20s. My goal is to find out where they spend their time online, what motivates them, and what their aspirations are. This will help me identify the target audience and address any gaps in the market.
I DID NOT choose to target 40-year-old females who love knitting and are interested in starting an online community. Although it's an amazing niche, I don't feel confident enough to understand their needs and perspectives. So I don't know how to communicate effectively with them and form a connection.
Alright, let's dive into this worksheet and start brainstorming your perfect niche and target market!
"Which industry do you have good knowledge about and could potentially provide a product or service for?”
<aside> 💡 Answer here:
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Example 1: Creative Entreprenuers
Example 2: Relationship Coaching
Example 3: Fitness
“Consider where they hang out online as well, who they follow, what platforms are they on and online communities they may be a part of.”