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What Does Lemonade Have to Do With Business?

Think of your budding business like a lemonade stand.

A kid (let’s call him Mike😉) sets up a lemonade stand because he has a purpose, right? Mike wants to supplement his allowance so he can buy a new toy. Or perhaps he wants to donate money to an animal shelter. Or he could be hoping to get his little sister a birthday present.

Whatever the purpose, Mike is driven by more than just wanting to get a cool drink into the hands of passers-by, right?

Now, consider the problem that Mike is solving in the marketplace. It’s a hot summer day and people are thirsty. So, by setting up a lemonade stand, Mike is adding value to his target audience. He’s quenching their thirst!

Mike’s pretty entrepreneurial, so he isn’t just going to pop up a folding table. He’s going to do some marketing. He calls his business Mike’s Soft Lemonade and he makes some posterboards for the street corners. Voila! Branding and marketing - check.

But what if every kid on the block set up a lemonade stand? How is Mike going to make his lemonade stand out? How is he going to differentiate himself in the marketplace?

Mike decides to “niche down” his lemonade stand. He makes his blend fresh-squeezed and charges a premium - say $5 a cup - and hits the after-work crowd instead of toddlers on tricycles. And now the profits start rolling in…

Before we wear this analogy too thin, let’s apply it to your business.

Go back and read our recent blog about having a “why” and a purpose behind your brand. Once that’s in place, get your branding established. But before you start marketing, consider your niche audience.

Too many people start out too broad. Your target demographic shouldn’t be “anyone who will pay me!” It can’t just be men, women, or other entrepreneurs.

If you try to be everything for everybody, no one is going to see themselves in your marketing. People want something that’s exclusively for THEM.

Pick out 10 criteria that match your target audience. Now, when you design your marketing messaging, aim for a bullseye (all 10 criteria met) but know that some people will meet 7 of the 10 criteria (first ring of the bullseye) or perhaps 4 of the 10 criteria (second ring of the bullseye) and so on. See where I’m going with this?

If you speak directly to that ideal audience, 10/10, you’re going to hit some bullseyes and you’re going to draw in some more sales that are close to that ideal customer. The bottom line is that you need to market your lemonade to the people who need it most - not the masses!

This blog was adapted from a conversation I had with Andrew Biggs on our podcast, “The Better Than Rich Show,” episode 131. Check it out, here!

About the Author

Mike Abramowitz, CEO of the Bay Area Game Changers, earned over $150,000 while getting his Engineering degree from the University of South Florida. Not only did he pay for his education, but he also built residual income through three investment properties while still a college student. Post-graduation, Mike launched five profitable businesses, started a podcast, released nine books (three of which are bestsellers), and founded a local Tampa charity.

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