Howdy folks – I am the author of the above book and each day I like to hold a VIRTUAL BOOK READING by posting up a few pages! Today is market segmentation.
Harry Brelsford, CEO at smb nation www.smbnation.com
Microsoft Small Business Specialist SBSC, MBA, MCSE, MCT, MCP, CNE, CLSE, CNP
PS – did u know I host a spring conference in the New York city area each spring? Save the date for March 6-8, 2009 and watch “voice meet data” in the SMB space!
Markets via segmentation
Your SMB consulting business plan should include thoughtful analysis about the market you serve based on segment. A market segment is an identifiable group or niche. You could also think of it as a discreet territory. For some, this will amount to serving only law firms or some other specific industry. This is common in professional services. You might take a slightly broader view as an SMB consultant and say that you intend to serve only services firms, because they best suit your background and personality. Indeed, you might use this section of your SMB business plan to list types of businesses with which you won’t do business. An example of this for me is construction firms. I have had negative SMB consulting experiences in the rough-and-tumble world of construction. Worst of all, some of my invoices have gone unpaid by construction firms with plenty of money but a penchant for treating service providers with disregard. And if things don’t get better soon with a couple of accounts, the next revision of this book might add law firms to this list. While I’ve got a couple of great law firm accounts, I’ve got two law firms that aren’t acting like Class A clients right now!
In this book, I’ve effectively created a segment for you based on business size. The focus of this book is SMB, not enterprise. And you’ll probably conclude, as you continue to read, that I tend to emphasize “small” most of all. If you prefer the enterprise world, don’t fret, as many of the points presented in this book relate to technology consulting in general, and you’re sure to find some knowledge nuggets in these pages. The important point to catch in this section is that you need to know your market(s) and communicate such understanding in your SMB business plan.