More Than WE Know

In yesterday’s post I discussed NaturallyCurly.com a business that is devoted solely to people with curly hair.  When first developing the business, Michelle was advised to broaden the target market by carrying products for people with all types of hair.  Instead she listened to her Inner Samurai and continued to focus on a narrow group of customers.  It was a risk that paid off - she and her partner, Gretchen,  now have a million dollar company.

That bold decision to stick to a well-defined target market is one of the key success factors for Naturally Curly.     

How do you know whether you have a well-defined target market for your business?

Let’s look at NaturallyCurly as an example.  Before reading further - state out loud who you think their target market is.  Then look below - how close did you come?

Levels of Definition of a Target Market.

Level 1: People with hair.

Level 2: People with curly hair.

Level 3: People who struggle with their curly hair.

Level 4: People who struggle with their curly hair and want to look better.

Level 5: People who struggle with their curly hair and want to look better and have money to spend on caring for their hair.

Level 6: People who struggle with their curly hair and want to look better and have money to spend on caring for their hair and have a history of spending on their hair.

Level 7: People who struggle with their curly hair and want to look better and have money to spend on caring for their hair and have a history of spending on their hair and are users of the internet.

How did you do? 

Are you wondering what’s so important about the 7th level of definition?  

1) It includes a pain point. People buy from pain.   Simply having curly hair wouldn’t be enough to motivate potential customers to buy their products - they have to be somewhat unhappy with their hair - struggling to make it look better.

2) It is lucrative. Potential customers must have money and must be willing to spend it on your product or services.  Unless you are running a non-profit, it is important that customers have money to spend and it is helpful if they already have a history of spending money in similar areas.

3) It includes a way of reaching potential customers.  If NaturallyCurly was a brick and mortar business, their niche might be “people who live within 15 miles of a store located in Houston, Texas”. But since theirs is an online business, then their customers must have access to the internet.

Now try it with your business. 

Write down a definition of your target market.

• does your market have some problem you can help them solve?
• can your market afford your product or service?
• does your market have a history of spending on similar products or services?
• is your market somewhere you can reach them?

Dig deep. The answers may not be immediately obvious. 

But if the answer to any of the above questions is no, you may want to consider modifying your target market to include more of these traits.

photo credit: angela sevin

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My grandmother had an unusual and beautiful first name - Verena.  But for most of her life she was known by her nickname “Curly”.    I’m sure she never imagined a business that was devoted to helping people with curly hair look their best - but she definitely would have loved the idea!

In fact, according to the people at NaturallyCurly.com, my grandmother was not alone in defining herself by her hair - many people with curly hair do.  Which is what led the co-founders, both of whom have curly hair, to create a business devoted to serving the needs of this small niche. 

And as Chris Anderson predicts in The Long Tail: Why the Future of Business is Selling Less of More , technology really can help your business capture more of a smaller market.

What follows is a story that was sent to me of how two moms turned their curly-haired woes into a million dollar business and the lessons that you can learn from their experience.

When moms Michelle Breyer and Gretchen Heber started NaturallyCurly.com in 1998, they had no idea that their concept of an online community for curlies would grow from a mere $500 investment into a million dollar enterprise.

NaturallyCurly.com informs, empowers and unites a community of people brought together by a common interest – curly hair – which often defines them in their everyday lives.  Using a straightforward, informative approach, NaturallyCurly attracts educated, affluent and influential consumers, who have experienced both triumphs and challenges in their love/hate relationship with their locks.

Michelle – mom to Emma (age 7) and Gretchen – mom to Reece (age 7), and Caden and Mason (ages 6) started NaturallyCurly.com while working at the Austin-American Statesman.  The two would spend days in the newsroom complaining about their curly hair and wondered why there was no online resource where women (and men) could go to address their curly hair needs.

From there, NaturallyCurly.com was born.

It didn’t take long for advertisers (including Proctor & Gamble) to recognize the potential of the site and they approached Michelle and Gretchen and became one of their first advertisers.

Now NaturallyCurly generates most of its revenue from advertisers and CurlMart, its online boutique that sells a variety of haircare items and accessories ideal for curlies.  It relies on marketing and public relations initiatives to attract visitors to the site.

Think you have what it takes to start your own business?  

Michelle and Gretchen offer the following tips for fellow mom-preneurs:

• Don’t quit your day job. NaturallyCurly originally started with an initial investment of $500. Michelle borrowed money from her father to help with public relations and website redesign. They kept their expenses low by working out of their homes. Both Michelle and Gretchen kept their day jobs for 7 years before quitting to do NaturallyCurly full time.

• Don’t listen to the naysayers. One person told Michelle they were limited themselves by just focusing non curly hair and should include all hair types. However, both women were very passionate about their idea and what the site should be and stuck to their guns.

• Employ other moms. NaturallyCurly presently employs 6 moms and more as contractors. They are very flexible with their mom employees because they know what it’s like to juggle kids with work.

• Make sure you have a support network. Find trusted friends and family members who can help out with the children. Make sure that you carve out time for your children and try to work as much as when they’re asleep. Whenever possible, try to involve your children with your business. Michelle and Gretchen’s children have all helped put stickers on bottles, rearrange shelves, etc. and they’ve gotten paid for their work!

• Don’t panic. After both women quit their day jobs at the newspaper, one of their largest advertisers told them they wouldn’t be renewing their contract. It was terrifying yet soon after they had a meeting with the founder of Paul Mitchell and decided to advertise on the site right on the spot!

• Don’t sweat the small stuff. Michelle and Gretchen both agree it’s often utterly overwhelming to juggle running a business with raising children. There aren’t enough hours in the day and you feel guilty devoting 40 hours a week to work. Take a day off to spend time with your kids or an extended vacation – after all, you are the boss!

And above all: do it on your own terms!

What do you think of Michelle and Gretchen’s advice? Would your business do better if it focused on a smaller, exclusive niche?

Although I traveled light this week, I still had plenty to read thanks to some great recently published ebooks based on the winners of Hewlett-Packard’s Top Business Blog contest.    All of these are filled with useful information for entrepreneurs.  And best of all - they’re FREE!

Four ebooks are currently available on the topics of:

• Marketing
• Productivity
• Entrepreneurship
• Innovation and Management

There’s also a fifth ebook that contains the top article in each book.

Sound good? It is…… But wait!! There’s more!

HP also has links to all the articles submitted into their Top Businss Blog contest. So you can read all the posts on these subjects, not just the ones that made it into the books!

Sound good? It is….. But wait!! There’s more!

HP is also giving away the templates they used in creating these ebooks - so you can create ebooks yourself!

Packaging content and giving it away to prospective customers is a proven way to let your customers get to know who you really are, both generating and converting more leads.

So be sure to let me know about any ebooks you create to promote your products - I’ll be glad to promote them here!

And if all this talk about writing has inspired you to learn more, be sure to check out Susan Gunelius’ upcoming course on Copywriting, based on her soon-to-be-released book, Copywriting in Ten Easy Steps.

Whew!   Only a few links today but they’re jam-packed with a dizzying amount of high-quality information - enjoy the ride!!

When I get back from a trip, it’s hard for me to pick right back up where I left off.  I tend to get post-trip amnesia from a combination of jet lag, sleep deprivation and culture shock. I can remember big things  like where I live, what I do for a living and who I’m related to, but little things disorient and derail me.  It’s easy for me to wander around wondering:

• Where did I leave my keys? 
• Do I have clothes at the dry cleaners?
• What is there to eat for dinner?
• What meetings or social engagements do I have?

So, before I leave, while I am still caught up in all the day to day challenges of my life, I take a few moments to prepare an easier re-entry for my future self. It doesn’t take that much more preparation time and it definitely saves time, energy and missed appointments when I return.

1) I straighten up before I leave.  Nothing depresses me more than coming home to a mess. The normal stuff you live with when rushing out the door - unmade beds, dishes in the sink, clutter on the coffee table can be defeating when you come home to it after a long flight.  It’s better to take a few moments before you leave to pick up the mess than to face it when you return.

2) I collect my car keys, IDs, credit cards, cash or any other important items I’m going to need in a prominent place. I travel with as little as possible - one or two credit cards, a drivers license and passport if necessary, and only the keys I need to get back into the house.  The less I take, the less I have to keep track of.

3) I make a list of any urgent deadlines or items that need to be taken care of as soon as I return. It could be phone calls, emails, bills, drycleaning slips, meetings or other deadlines.  Whatever it is I put all the info I need in one spot so I’ll have it handy when I get back.

4) I inspect the refrigerator, the bathroom and the laundry room. I know when I get back the last thing I will feel like doing is going out to the store.  So I make sure I have all the essentials - coffee, non-perishable food, toiletries and laundry supplies so that I can recover from the trip and get ready to face the world again - without having to run any errands.

5) I leave myself a treat - nothing big - a magazine or book, a candy bar, a face mask, a movie, etc. Just someting that I can look forward to enjoying when I finally get home.

And there you have my recipe for a successful homecoming - the peace of a clean, well-stocked house, the serenity of an organized to-do list, and the thrill of a small self-indulgence. 

Almost makes it worth the trip!!

What about you - do you prepare for a successful return before you leave? Or do you come home to chaos?