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Hub You - Market Penetration - Analyze Your Geographic Business Base
Who Holds the Reign of Control?That question is a double-edged sword because without the right software you don't have "Hands On" to anything, much less control. As a matter of fact, if you are not running the right time and expense tracking software, not only do you not have control, but chances are you won't foresee a c
What businesses are 15 minutes from where you are, 30 minutes from where you are, etc...? Do not go beyond 90 minutes. Remember you need billable hours so you can't take up your whole day driving to and from
A friend of mine emailed a photo that was rather shocking. It was a 1978 staff photo of Microsoft Corporation – there are only seven people pictured. In the lower left-hand corner Bill Gates looks about twelve-years-old while in the lower right-hand corner, scraggly bearded fellow multi-billionaire Paul Allen looks like a tech
You can't simply choose your market penetration strategy arbitrarily. It has to be grounded in research of the businesses in your geographic area. You need to figure out how many businesses of a certain size and type exist and then tailor your market penetration strategy around the results.
Geographic Market Penetration Research
When you start thinking about the type of customer you need to target to meet your revenue goals it is wise to set up a grid. This grid will track the type and number of business based on geographic location.
Start by putting your business in the middle of a grid. Then move out in concentric rings further and further from where you're located.
What businesses are 15 minutes from where you are, 30 minutes from where you are, etc...? Do not go beyond 90 minutes. Remember you need billable hours so you can't take up your whole day driving to and from
Several years ago, I was sitting in my high school guidance counselor’s office because I want to find some help about my future career. I really had no idea about what I want to be when I grow up, so it was quite a daunting experience. I need career advice because I was a bit overwhelmed by the huge number of things that I want
You can't simply choose your market penetration strategy arbitrarily. It has to be grounded in research of the businesses in your geographic area. You need to figure out how many businesses of a certain size and type exist and then tailor your market penetration strategy around the results.
Geographic Market Penetration Research
When you start thinking about the type of customer you need to target to meet your revenue goals it is wise to set up a grid. This grid will track the type and number of business based on geographic location.
Start by putting your business in the middle of a grid. Then move out in concentric rings further and further from where you're located.
What businesses are 15 minutes from where you are, 30 minutes from where you are, etc...? Do not go beyond 90 minutes. Remember you need billable hours so you can't take up your whole day driving to and from
If you’ve got a few typing skills, and you’re interested in working from home, then you may have noticed the number of “Data Entry” jobs that seem to be available online these days. If you’ve looked into any of them, you’ll probably have been surprised by how much money you can apparently earn doing data entry. Wow! It’s far bet
Geographic Market Penetration Research
When you start thinking about the type of customer you need to target to meet your revenue goals it is wise to set up a grid. This grid will track the type and number of business based on geographic location.
Start by putting your business in the middle of a grid. Then move out in concentric rings further and further from where you're located.
What businesses are 15 minutes from where you are, 30 minutes from where you are, etc...? Do not go beyond 90 minutes. Remember you need billable hours so you can't take up your whole day driving to and from
Creativity can be defined as problem identification and idea generation whilst innovation can be defined as idea selection, development and commercialisation.There are other useful definitions in this field, for example, creativity can be defined as consisting of a number of ideas, a number of diverse ideas and a number o
Start by putting your business in the middle of a grid. Then move out in concentric rings further and further from where you're located.
What businesses are 15 minutes from where you are, 30 minutes from where you are, etc...? Do not go beyond 90 minutes. Remember you need billable hours so you can't take up your whole day driving to and from
You are ready to open your business so how do you make sure that it is successful? There are a few things that you need to make sure you do – here they are.* Choose a business that you are not only interested in but also reflects your strengths and interests. You want to have fun with your work obviously. If you look f
What businesses are 15 minutes from where you are, 30 minutes from where you are, etc...? Do not go beyond 90 minutes. Remember you need billable hours so you can't take up your whole day driving to and from clients' places of business.
Figure out the different size levels of the businesses in your area. How many business with 1 to 10 employees and 100k to 1 million in revenue are within 60-90 minutes?
How many of these sweet spot clients are within 15 minutes, 30 minutes, etc.. from you?
Then track large small-businesses with 50 to 200 employees and 50 to 100 computers the same way.
To gather the type of business size information you need for your market penetration research there are a variety of sources to consult including:
libraries
economic development or small business assistance offices
mailing list brokers
online research
direct phone inquiries
Dunn and Bradstreet
Zap Date
Info USA
The Bottom Line on Market Penetration
Market penetration must be looked at in terms of the business base in your geographic area. You need to first determine the revenue you must generate and then look at the businesses within your are
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