Finding your sweet spot

Every business has its sweet spot. The questions is. Have you found yours? This is an interest question that we have been musing on and consequently learning all about. You imagine in big companies they have teams devoted to researching and analysing data to find out how to hone their products to a niche market.

But what if you don't have a big team at your disposal? You have to do it yourself. Tailored Time has been investing time (ha ha) into finding and developing our sweet spot (s) and this is our suggestions of how to go about it:

1. Review what you do for your clients - check out your spreadsheets, it may reveal a pattern. If you dont have a main pot of data... sort it out

2. Contact your top clients (the ones that love you and have been with you for a while) - ask them some questions around what service you provide and what they love and what they are possibly missing from your current service/product

3. Check out the competition - check in with your competitors, find out which markets they play to... what are you missing out on?

4. What markets are particularly successful at the moment - check out the stocks and shares, read the business press, ask fellow entrepreneurs......

5. Put your findings together of the above and you should see a pattern starting to emerge, namely a target group who need your product which is the centre of your sweet spot.

These five points make it sound very easy, where as in fact it can be highly frustrating and take a good chunk of time to work it out. But, it will not be time wasted because by going through this process you will become a bit leaner and a bit fitter which is an all important thing in the ever evolving world of business.

mmm yum. we love a sweet spot.

Please share!
As always we’d like to hear from you if you’ve either comments on this blog or tips or advice of your own to share. Post your comments below or contact our team on 0845 075 1044.