Lessons for Rebirth
3. Decide who you will serve.
When deciding which customers you want to reach, be clear but be flexible. You don’t have to serve all segments of an industry or even be in a high-growth or new industry. Just find an area that (a) you are good at, (b) people need, and (c) you can make a profit. Start there, then the market will tell you all you need to know. Pay attention to where your cash flow and profits are coming from. Put all your energies behind both of them.
Task: Look for niches within bigger industries. Try to find an area where there are fewer competitors but that your product or service will still be in demand.