15 Minutes To Action - Where Do You Play?

It’s 15 Minutes To Action time again, and this time the focus is on markets.   Many businesses stall in terms of growth and scale because they haven’t been specific enough about the market they choose to play in. With this thought in mind, Nick asks the question, where do you play?   KEY TAKEAWAYS   If your message is failing to land, if your story is not getting out there, then the strategy that will help you get there is “niching” - getting super-specific about the market you want to play in. You have to understand how promiscuous the market is. How close knit are the potential buyers in your chosen market? Will partnerships and referrals spur on your growth? If so, then the path to success is clear. Identify the problem you’re trying to solve and take a broader look at the market in which it exists. If your idea only has a limited lifespan, then consider if you’ll be able to make it worthwhile in the time you have. People don’t make big decisions when they’re not in any pain. If something can be put off, then people generally will. Ask yourself if what you’re selling is crucial to your customer in solving their problem and if it will save them that pain.   BEST MOMENTS   ‘You need to understand the dynamics of the market that you want to serve’ ’The more promiscuous the market is, the more it feels like a tribe, then the more success you’re going to have’ ‘You’ve got to look more broadly. I call it the 50,000ft view’ ‘If you’re not getting growth or traction, it’s more likely because you haven’t been intentional enough with your decision making'   VALUABLE RESOURCES   Scale Up Your Business – scaleup.vip/podcast Join the free Scale Up Your Business community: scaleup.vip/community Take the Six Peaks of Value Creation Scorecard, to measure your current business performance and show you where to focus to get to where you want to be: https://scaleup.vip/sixpeaks   David Jenyns - https://www.davidjenyns.com Systemology - https://www.systemology.com/about/ David Jenyns LinkedIn - https://www.linkedin.com/in/david-jenyns/?originalSubdomain=au   ABOUT THE HOST   My name is Nick Bradley. I’m an entrepreneur, author, speaker and investor. My background is in growing and scaling VC and Private Equity backed businesses.   Having successfully built, bought and sold a number of companies, and removed myself from day-to-day operations, my focus now is on helping entrepreneurs get to where they want to be, in business and in life. As well as investing in growth businesses and backing turnarounds - with the ultimate aim of creating value from significant capital events.   I’m passionate about personal and professional development - showing up and being the best version of myself ... every day.   My bigger vision is to help bring entrepreneurial skills, experience and mindset to people in developing nations - so they can follow their dreams, live life more on their terms - utilising entrepreneurship as a global force for good.   CONTACT METHOD   Nick’s Facebook Page: https://scaleup.vip/FB   Nick’s LinkedIn: https://scaleup.vip/LI   Nick's Instagram: https://scaleup.vip/IG   Nick’s website: https://scaleup.vip/NB   Scale Up Your Business website: https://scaleup.vip/suyb See omnystudio.com/listener for privacy information.