Choosing the Right Market Segment for Your Online Business #3 – Sorting Through Your Best Qualities

This article is 3 in the series on choosing the right market segment for your Online Business. It follows on from the previous article where you built a list of your skills, interests and knowledge. Then from that list you picked out your main qualities – click here if you missed it

As a reminder we are aiming at building a business that is right for you. It matches your set of core inner strengths with a subject that you enjoy.

Next we are taking the list of personal qualities from step 2 and sliming that down. We need to translate the list into skills that are useful for building a business. By choosing which skills to use you’ll be able to create a solution to problem that a chosen crowd has and is willing to pay for. That is the starting point of a great business. And particularly a business that is best for you.

So look at the list of your personal qualities. Start thinking about how they could be useful to someone else. A good tip here is to imagine someone who hasn’t got those qualities. What kind of problems would they face?

So for example say you were good at voicing your opinion. Someone who lacked that quality is likely to be quite shy. Their problem may be loneliness or not able to speak out for themselves.

You could provide a solution that involved teaching a way to safely say what they wanted to say. Or another alternative could be writing skills.

For another example say you were good at being organized. Someone who didn’t have that quality is likely to be messy and disorderly. Their problem may be poor efficiency or being too hasty.

You could provide a solution that helped by giving an easy to follow system for arranging your work into a logical order. Or by teaching how to say no when you already have too much to do.

You get the idea I hope.

Now go through your list of personal qualities one by one and repeat the process. You could easily come up with dozens of ideas.

Think of it as a game and aim to come up with as many solutions as you can.

Once you’ve done that you can move on to the next step – Choosing the Right Market Segment for Your Online Business #4 – checking how valuable each solution is.

 

 

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One Response to “Choosing the Right Market Segment for Your Online Business #3 – Sorting Through Your Best Qualities”

  1. [...] Thats it for this stage, next is how you apply this to choosing your market segment. [...]

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