Posts Tagged ‘Business is Booming’

Brad- I know you believe you must learn before you earn, but I see a lot of young people starting and running their own businesses these days. If you need to learn before you earn, why are so many young people becoming entrepreneurs?

Wednesday, October 27th, 2010

First of all, just because someone is young, it doesn’t mean they haven’t learned, but it does probably mean they haven’t learned the wrong things.

There are fields in today’s business world that are made for youthful entrepreneurs, like anything dealing with the internet or computers.

For example, the founder of Facebook, Mark Zuckerberg, was just 19 when he created the site. In case you aren’t one of the 500,000,000 Facebook users and haven’t heard, he’s doing pretty well with this youthful entrepreneur thing.

A big reason for his success was, despite his youth, he was the most knowledgeable person in the room when it came to the product he wanted to produce.

Zuckerberg is a great example of today’s young entrepreneurs because he was smart and knew exactly what he wanted his company to be, in part because he hadn’t learned any bad habits on his career path.

His story shows that not only do many young people have the intelligence and experience to break into certain fields, but they aren’t old enough to have become jaded by the career path philosophy.

Because they aren’t jaded, they believe in themselves and their product immensely and will do what it takes to make their venture a success.

A young entrepreneur will still have a lot to learn and learning as you go is certainly a harsher reality than learning ahead of time, but younger entreprenuers tend to have unbridled energy and they aren’t afraid to take risks that older entrepreneurs might be afraid to take.

Another factor may be the economy.

With jobs at a premium, more and more young people are finding it hard to navigate a career path by working for someone else.

Like so many people struggling to find employment during the recent recession, young people are finding ways to use their skills to make a living and creating their own business is a logical step.

As long as technology plays a role, expect to see more youthful business owners.

All the best,
Brad Sugars

Brad- I just started a new business, a catering company that I’m hoping to grow with a very small staff at first. What is the best way I can market my business to reach the right group of customers?

Wednesday, October 20th, 2010

The first question to ask is what are your target markets?

Are you targeting specific ethnic celebrations, like Jewish Weddings, or are you targeting graduation parties, corporate functions and the like?

No matter what market you are targeting, you have to do it specifically.

Each target should have its own methodology. You have to give each target its own reason for using your services.

That’s why your marketing target, offer and copy change depending on the target you are focusing on.

View your targeted marketing like a dartboard.

Each section of this dartboard is like a different target for your business and you have to hit each one, not just the bulls-eye, to win the game.

Finding your specific targets is just the first stage, though. Once you’ve identified those targets, you’ll need to follow the next two steps to affective marketing, offer and copy.

These are not generic ads that speak to everybody and nobody at the same time. They should specifically speak to the need of the group you are targeting.

Remember, you will have to use many different strategies to reach all of your targets.

Of course you’ll have to test and measure each step of the way to find out what works and what doesn’t.

In the end, the hard work will pay off because your business will be able to reach the customers you want.

All the best,
Brad Sugars