Words of Wisdom and Inspiration for the aspiring entrepreneur from Frank Covich, Founder of the National Association of Independent Business Brokers (NAIBB)
by Frank Covich
Segmenting to your different marketing audiences.
One definition from the dictionary on the word meaning “segmenting” is: To divide into separate parts or sections, example (the market is beginning to segment into a number of well-defined categories.)
As people build businesses with different products and services, it is important to focus on each service or product a separate way. An example below is my development of different unique and separate marketing pieces focused on the different services and activities of business brokers.
Described are the different services that can be offered by a business brokerage practice:
- “When It’s Time to Sell Your Business” presentation is designed for the business owner who might wish to sell his/her business, (their mindset is usually exclusive to, how do I sell my business, who can help me?)
- “Careers for Sale” this piece is designed for the person looking for a new career as they examine established businesses-for-sale situations. These people have no interest in selling so this service is exclusive to buyers looking for a new career.
- “The Next Step” is a piece designed for business professionals who might wish to consider “growth through acquisition”. The process of making a synergistic business acquisition that will help his/her core business grow in sales and profit by acquisition.
No matter what your business don’t expect total success from one name to flash your products. You can say “Doughnut Shop”, but that doughnut shops products might be better exposed and offered by segmenting, example: chocolate doughnuts, glazed doughnuts, sugar doughnuts, that expands what you are offering to people with different taste and wants.
In business brokerage, as stated above, marketing and talking to a business seller is a special art and talking with a business buyer is a different science of thought, and marketing to and talking with business people who might consider growth through acquisition is a discussion different than dealing with business sellers and career finders.
My program and focus for over 30 years are guiding a person who would like to become a business broker into a business opportunity without extensive expense and commitment to rules and regulations which some franchise business brokerage offerings demand. No strings attached!
To consider my program on expanding into the science and art of business brokerage, please visit BeBizBroker.com.
All the best,