Your Market by Eben Pagan

Well, I hope you’ve been enjoying the blogs I’ve been posting about Eben Pagan’s “$1 Million Worth of Business Advice – Free”. Pagan, who is commonly referred to as a guru mastermind, is hands down someone you want to listen to if you own a business or are looking to start one. With that being said, today I’m going to break down Pagan’s second key area of growing your business, your market. Just a quick note, however, if you’ve missed the previous blogs in this video summary series, then scroll down to the bottom and you’ll see the link to my previous day’s posting along with the link to Eben Pagan’s video. Enjoy!

So, your market…when trying to determine whether a particular niche, product, or a business is a good idea, Pagan suggests there be 3 questions you ask yourself before taking action.

1. Is my prospective customer experiencing pain, urgency, or irrational passion?
– Let’s face it, we don’t always make buying decisions while thinking logically, so it’s
important that the prospect has an emotional motivation to purchase

2. Is my prospect proactively searching for solutions?
– Are they at a point where they are experiencing a problem or a passion and now
emotionally motivated enough to begin taking steps to find solutions?
i. You can test this by using PPC campaigns or search marketing because you will
be looking for prospects who are already looking for you

3. Does my prospect have few or no perceived options?
– There are a couple ways you can approach this, depending on your answer to the
i. If there are a lot of options, then there is obviously more competition. This
results in either having a price war, or convincing the prospect that you have
something better to offer
ii. A different strategy, however, is to create a new category
– This way you are the first in the market and you can go into it with the
mindset that you’re going to dominate it.

So that’s a wrap for your market, but if you want to check out PART 2 in this video summary series just click on the link below:

Here’s the link to Eben Pagan’s video:

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