Investment

If you want to succeed in business, narrow down your aim!

◆ What are the benefits of narrowing down business themes?
The important thing to consider, whether you are starting a business or a side job, is to narrow down your customer targets and areas. This is because it has benefits, is easy for individuals to enter, and is easy to differentiate from the competition.

For example, when I am trying to start an English conversation school because I am good at English, there are many schools including large and small schools, and large capitals are advertising fancyly.

Or, because they are good at pianos, piano classes are available nationwide with Yamaha and Kawai, and local private classrooms have been scattered since ancient times. It is not easy to win in these markets [to attract stable and continuous customers].

But what if, for example, "a school for business people who can read English-language newspapers and English-language magazines?" Large companies enter big markets.

In other words, markets that are easy for anyone to understand, such as daily English conversation, business English conversation, and TOEIC measures, are naturally mowing grounds of major companies. In addition, the majors have high-level instructors, and it is difficult to differentiate in terms of quality. However, there are not many schools that specialize in reading English paper.

Also, if your target is a business person rather than a housewife or student, you should be able to afford the tuition at a slightly higher unit price. In addition, even though not many businessmen need English conversation, it can be thought that reading English literature may be able to find needs in terms of information gathering.

Piano classrooms can also be differentiated from competitors by proclaiming, for example, "lessons in English" or "specialization in pitch education for ages 3-5".

◆ Avoid competition by narrowing down and reach targets efficiently
In the case of a business run by individuals, there are no back office department labor costs such as office rents, employee salaries, and HR accounting, unlike companies. In other words, if you don't get a large number of customers, you can't go wrong, so there is no problem even if the market size is small.

Rather, if you narrow down the segment, the market is small, so there is a low possibility that major companies will enter the market, and the advantage is that competition is unlikely to intensify.

Furthermore, the more specific the customer target is, the easier it is to turn to those who apply. For example, in the case of an English school, it is highly likely that those who are interested in “collecting cutting-edge information abroad” will reach directly.

◆ In a niche field, you can quickly become a guru
Another advantage is that the narrower the field, the more likely it is to be a guru. Because it is a niche, it's easy to get to that path in a short time, but as a result, you can claim to be "the guru."

For example, in English, there are people who go up and repeat 990 points every time in TOEIC, or returnees who have perfect English skills.

In other words, people of moderate level cannot compete very well. If you can't answer the questions, "Why choose you over others?" "Why do you need to pay for your products?" It's hard to come up with a business advantage.

However, if you read English paper, the level differences will be hard to see from the outside. In addition, trying to provide omnidirectional information [listening, speaking, reading, and writing] on ​​language learning disperses time, effort, and information.

On the other hand, if you only teach English-language paper reading every day, you will naturally dig into effective ways of teaching. It will also help you get feedback on what questions your students have and where they trip.

It is easy for us to become a guru in a few years, as levels rise rapidly and there is little competition in the first place.

In this way, narrowing down customer targets and themes by what you are trying to do is important for a private business with poor capital and advertising power.

Sentence = Tokio Kodo [money guide]
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