Tag Archives: market

Abandoning a “Market”

We talk a lot here in the Home Business Blog about how to identify and attract new markets, understanding our customer base and demographics, and how to grow and expand our businesses–but sometimes, it becomes necessary to make a major switch or change and actually abandon an existing market that we have been working in or courting. Things change. You may find that you are eliminating a specific product or service, or that you have discovered a more lucrative market and do not have the time or resources to continue servicing an existing market. This is not uncommon in a … Continue reading →

Do You Know and Understand Your Market Conditions?

Now that you are in business, you are likely learning all sorts of terms and business techniques that you might not have had to know about before. For many home business owners, getting a handle on marketing, advertising, and publicity can be one of the biggest and most foreign challenges. One term it would behoove you to understand is: “market conditions.” Market condition refers to just what it sounds like—the conditions and realities of a specific market. A market can be defined either by product or field, or demographic, or geography. For your purposes, you basically want to know what … Continue reading →

Keeping Up With Trends

While there is definitely such a thing as being too trendy, it can still be important when operating a home business to try to stay somewhat “in touch” with what is going on and what the latest and greatest trends are—both within your field and in the world at large. Trade magazines and specialty publications are an excellent source of information about current and upcoming trends in various fields of business and interest. It may be worth your while to purchase or subscribe to one or two so you can stay current on what’s going on. Newspapers and related Web … Continue reading →

Can You Cope with Competition?

I am not, by nature, a very competitive person. This doesn’t mean that I don’t have a smidge or sparks of competitive spirit in me–after all, I did play sports for most of my growing-up years. But, when it comes to my home business, I don’t always think in terms of identifying and annihilating the competition… Unfortunately (or fortunately, depending on your personality), coping with competition is part of the nature of being in business. We need to at least understand who our competition is and how it can or can’t affect our own business and work efforts. Few of … Continue reading →