2Bobs—with David C. Baker and Blair Enns
Are You Fishing in the Right Pond?
Jul 31, 2024
The discussion kicks off with a humorous take on knowing your audience, comparing it to golf strategies. As economic uncertainty looms, the focus shifts to the vital need for creative firms to carefully reassess their market positioning. The importance of targeting a narrow audience emerges, suggesting that small beginnings can lead to broader success. Navigating through AI's impact on various industries raises questions about coding and market dynamics. Finally, the conversation highlights the need for businesses to establish a niche before expanding their reach.
32:10
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Quick takeaways
- Evaluating market positioning is crucial, as targeting too broadly or narrowly can hinder growth and relevance in uncertain economic times.
- Maintaining flexibility to explore adjacent markets while pursuing a specific target can unveil unexpected opportunities for business expansion.
Deep dives
Choosing the Right Market
The conversation emphasizes the importance of distinguishing between the work individuals seek and the projects they accept. By using a golf analogy, the discussion illustrates how professionals should aim for their target market while being open to a broader scope of potential clients. It is suggested that the target is the precise aim, akin to the flag on a golf course, while the market is a larger area where one is still happy to land. This differentiation encourages creative entrepreneurs to reflect on their positioning and the audience they truly serve.
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