GoForth offers Canada's leading small business training program, helping entrepreneurs across the country run better businesses, become better leaders, embrace change and face the future with more confidence. Learn more about our training and get inspired.
"GoForth is a paradigm-shifter. They’ve figured out how to deliver fast, affordable, really effective and convenient entrepreneurship education. This is a game changer in Canada."
"This course informed me of aspects of business that I had never thought about before, such as how to take legal action, managing accounting and finance, and how crucial it is to have your business down on paper before launching into it."
"I’ve run a small business for over 10 years and thought I knew what I was doing – until I took GoForth’s course. Wow, where was this 10 years ago?"
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Starting a new small business is one of the most exciting things you can do in your life. But at GoForth, we also know that understanding your target market inside and out will increase your odds of small business success.
Imagine you’ve decided to open a flower shop. You find suppliers, lease a building and open your doors for business.
But by the end of your first week you’ve made a total of two sales.
What happened? Here are some possibilities:
These are just four barriers to your business’ success that market research could have revealed. Researching your target market can make the difference between a successful business and one that isn’t. There’s time and cost of associated, but it’s an important investment in your small business’ success.
Quite often, new entrepreneurs think their target market is “anyone who’ll buy my product.” However, this simply isn’t true. Using the flower shop example, maybe your target market is people who are interested in classes on floral arrangement. Maybe it’s influencers who want fresh decorations for the backgrounds of their photos or videos. Take the time to identify your target market.