I have decided to mainly use our blog as a journal to record my lessons learned and daily struggles, activities and successes as an entrepreneur trying to manage raising a happy family and building a world class business!
This weekend I spent a lot of time working on creating our Target Market strategy ( I also found time to get a buck deer hunting, go to our high school football game and watch the Tigers rock the Yankees with my wife). I wholeheartedly believe that to be successful in business you need to be focused on some target market or niche and be the best or almost the best at serving that niche. For nine years we excelled in working the niche of “Helping people going through a life changing event such as a physical injury, death of a loved one, divorce, etc.” Due to various market circumstances and fatigue we have found it necessary to refocus and find another target market. Therefore, I have spend a lot of time dissecting, sorting and analyzing our current client base and thinking about where we can and want to provide the most value going forward. We have a ways to go to get there; however, we WILL get there!
I am in the process of going through our entire Contact Management System and getting rid of any outdated contacts and trying to get a feel for what types of clients and prospects are in our database. I have discovered that 51% of our best clients are married, 38% are single women and 11% single men. I have always had the sense that we work better with women or a couple, making sure to fully include both spouses in the decision making and contact. This should be an area we do more thinking about when honing our target market strategy.
I believe that reading self help type books a little each day which are based on business is extremely helpful in business and life. The best business / life balance books I have read are as follows:
1.) Og Mandino’s “The Greatest Salesman in the World”
2.) Clayton Christenson’s, “How Will You Measure Your Life”
3.) Tim Ferris’, “The 4-Hour Work Week”
4.) Michael Gerber’s, “The E Myth”
One of the things which struck me when reading Clayton Christenson’s “How Will You Measure Your Life” is his comment that there is a sobering patter when looking at the personal lives of many ambitious people (like entrepreneurs). That although they may believe that their family is deeply important to them, they actually allocate fewer and fewer resources to the things they would say matter most!
White House Financial & Settlement Consulting helps families live easier and less stressful lives through the proper management of their financial resources. We do this by acting as our clients’ trusted advisor providing a personal touch customized to the client’s needs! Please visit our web site at www.whitehousellc.com for more information!