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  • How Can I Make Money With Dean Graziosi’s Real Estate & Foreclosure Profits?

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    What is Dean Graziosi’s Real Estate & Foreclosure Profits?

    Dean Graziosi’s Real Estate & Foreclosure Profits is a book that focuses on turning over profits from foreclosed properties by capitalizing on the market cycle. Graziosi’s life story is that of a rags to riches theme and this is reflected in the book as well as in his previous books. His books are unique in that he presents ways for individuals to make money regardless of their current situation.

    The information is organized in a way that it really does consider people with current debt problems. The type of opportunity Graziosi teaches may or may not be a good investment for someone who is in debt or has no experience in the area because real estate can be very risky, especially for beginners. Unfortunately, many individuals leap into money making opportunities as a desperate attempt to help them out of their stressful situation. This is totally understandable but every potential business should be researched thoroughly. There are plenty of other less risky, and frankly more interesting ways to make money.

    Can you really make money with Dean Graziosi’s Real Estate & Foreclosure Profits?

    Dean Graziosi is a legitimate real estate expert and his knowledge is definitely valuable. This book actually contains enough information to help one to begin buying and selling real estate. However, as with any other area of business not everyone will be successful. Sometimes things just do not work out, no matter how promising they may look. There is nothing wrong with trying and failing because just by trying requires stepping up and at least attempting to create success, and that is admirable. Real estate ranges greatly in prices, so if an individual wants to join in the opportunity but is hesitant to invest a vast amount of money there are always cheap properties that can be bought as a jumping off point for a new entrepreneur.

    The book does discuss ways to obtain surprisingly low cost properties. This is probably one of the best times in history to purchase property, but the selling part can be tricky. It is best to work with or have access to someone that is experienced in real estate. This person or real estate agent can act as a sort of guide to help one to sell their properties and they can aid in the transaction process to make sure it is done correctly in the beginning.

    So what exactly is it like participating in the business of buying and selling properties?

    Well the answer to that depends on many factors including how much money the individual has available to invest, where the individual lives, where they expect to buy and sell the properties, and what resources they choose to use. As far as resources, there are a multitude of books and systems sold that can help one to gain knowledge, as well as a vast amount of websites and online guides. However the most important resource one can have is a mentor in the business that is experienced enough were their guidance and ability to troubleshoot and answer vital questions is beneficial to the beginner.

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    Source by Christopher Castillo

    Views: 0

  • Customer Service Tips – How to Handle Irate Customers

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    Are you ready to learn how to keep every guest happy? It starts with making sure that your managers are thoroughly trained in every position within your restaurant. They need to know all the jobs, so they can step in if someone calls off sick, or if sales are higher than expected.

    The manager needs to be highly trained in excellent customer service. This type of service is called “wow” service because your customers will say “Wow!” about their experience at your restaurant.

    One way to easily accomplish that “wow” experience is simply by telling your managers that every time they are in direct contact with any guest, that they are smiling, being friendly and attentive to the guests. If a famous person was coming to your restaurant, how would you treat that person? Every guest should be receive that same VIP treatment.

    In case of a dissatisfied, angry, or irate customers, we recommend applying the GLAD technique. This will dramatically decrease customer related matters, and lead to customer recovery.

    What is the GLAD Technique?

    1. Go to the guest
    2. Listen carefully to the guest
    3. Apologize to the guest
    4. Do what it takes to solve the problem

    When approaching the upset customer, always shows genuine concern. It is important to listen to the guest without cutting them off. Make sure that you take the time to fully understand their concerns. Remain calm. Responding to anger in a calm manner may help reduce the person’s anxiety. Don’t be fake, be real.

    Always apologize to the guest, even if the customer is wrong. Even when you are certain the person is wrong, go with the mindset that the person is right. Never offer excuses as to why the problem occurred, but offer solutions instead.

    Solutions will vary depending on the complaint and the circumstances. Offer a solution and ask if this will meet the customer’s needs. Go above and beyond. Remember, one angry customer leads to other lost customers. Keep in mind that for each customer you lose, you will lose 11 customers within the next few weeks. That number will compound because those 11 people will also repeat what they heard from the first customer. Ultimately you could be losing hundreds of customers because of one dissatisfied customer. If the matter is serious, you could even lose your restaurant’s reputation, and the restaurant could end up being shut down.

    Every customer that leaves your restaurant tells family, friends and co-workers about the experience at your restaurant. If the experience was mediocre they won’t say anything, but if it was very good experience at your restaurant they will tell others. If it was a negative experience and they walked out dissatisfied, then the reputation of your restaurant will be impacted. Negative feedback from your customers could mean the end of your business. Don’t underestimate the power of the word-of-mouth effect. Word-of-mouth will work with you or against you depending on the guest’s experience.

    Do you really want to lose business because of customer complaints? Teaching effective customer service techniques to your managers and staff should be at the top of your to-do list.

    Teach your managers to be proactive in preventing customer related matters. Manager presence in the dining room is a wonderful path to reduce customer complaints. The manager should spend at least 80% of his/her time in the dining room, and only 10% in the manager’s office.

    The manager also needs to physically approach each customer’s table to ensure that WOW guest service is in effect. The manager also needs to learn how to detect negative body language and how to express positive body language.

    How do customers show their dissatisfaction with their body language?

    • When you are in direct eye-to-eye contact, you can witness the anger in the customer’s eyes.

    • Seeing untouched food, especially when everybody at the table ate their food, except the one customer who barely touched his or her food.

    • The manager asks the customer, “So how was your meal and service tonight?” The customer replies, “It’s okay”. If the customer was fully satisfied with both the service and the meal they may say it was “terrific” or “great,” not just “okay.”

    • When you look at a guest and you get an uncomfortable “gut” feeling, act on that feeling.

    • You see a customer looking around as though they want someone to help them. You may even see them glaring at a server speaking with other customers.

    What is your body language saying?

    • Always use direct eye contact when talking to your guests. Never look away while you are talking to your guest. Looking away gives the impression that you are not interested in what the other person has to say.

    • Never cross your arms when talking to guests, this could be interpreted as shutting them out or anger.

    • Never roll your eyes, as this is very disrespectful and it appears that you are belittling their concerns.

    • Constantly listen to the guest even if they are angry. It may help to allow the person to vent their anger. Always acknowledge their feelings.

    • Ask the customer what would improve the visit to your restaurant.

    What do you do with Moody Customers?

    This is your opportunity to turn around the customer’s mood from a bad to good. Make certain that you are on top of things and pay attention to details. If you have any concerns about their experience, you may even offer the table a free appetizer or dessert. It may seem like you are losing money by “giving away” food or “discounting” their meals; however, you will lose more money from each lost customer than you will for that one food item or meal. If you successfully turn things around, then you may create repeat business. Kindness and consideration of their needs will often overcome their anger.

    A wise person said, “How you handle positive feedback is important, but it is more important to know how to handle negative feedback.” Make sure you tell the customers that you appreciate the fact that they took the time to tell you about their experience. Don’t make excuses, instead find solutions. Don’t disagree with the customer, even if you know the guest is wrong.

    If you don’t learn from your mistakes, you are doomed to repeat them again and again.

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    Source by Donna Schim

    Views: 0

  • Larry Ellison – Here Is A Terrifyingly Good Rags To Riches Story

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    Born to an unwed Jewish mother and an Italian American US Army Air Corps, Larry Ellison did not have a fairytale childhood at all. Unable to raise him properly, his mother gave him to her aunt for adoption at the age of just 9 years. Larry had a severe bout with pneumonia at that time. His adoptive father was a Government Employee who lost all his earnings in the Great Depression.

    Raised in a Reformed Jewish home, Larry respected people who believed in religion even though he did not believe in that stuff at all. A dropout from the University of Illinois-Champaign, Larry completed his education at the University of Chicago. This was his first tryst with computer designing.

    Larry realized that his heart was with computers. At Amadhi Corporation and Ampex Corporation, he learned the ropes of the trade. One of the projects done by him was preparing a database for the CIA. He named it ‘Oracle’.

    The year 1977 saw him venture into the business arena when he founded Software Development Laboratories along with two other friends with an initial capital of $2000. This company was rechristened ‘Oracle Systems Corporation’ in 1982. This company had its share of near bankruptcies before ruling the regional database market along with Sybase, Informix and Microsoft.

    The years 1994 to 2010 was the golden period for Larry Ellison and Oracle as they acquired Sun Microsystems and expanded their grip on their domain. Larry has the power of being the CEO of the company until 2014 after which he assumed the post of The Executive Chairman and Chief Technology Officer.

    Imagine a person starting a company with a meager sum of $2000 ending up as the seventh wealthiest man in the world in February 2017 with a net worth of $55 billion, according to Forbes. This is a true rages to riches story.

    Is It Possible For You?

    The answer to that question is yes. All you must do is get educated on the industry you will like to become affiliated with. Luckily for you, there are organizations of experts who offer free reports to help those who are in need of some information on how to multiply their income like how Larry did.

    Obviously, there are a lot of resources of the internet, but the main thing to take away is the proper method on how to capitalize on the right investment.

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    Source by Marc-Eddy Drouinaud Jr

    Views: 0

  • An Unusual Way to Get Rich – Create a Flea Market Small-Business Empire With Wholesale Products

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    FACT: Many people earn $1,000 per day (that’s $104,000 per year) just selling at flea markets and swap meets on weekends. (I’ve actually made more than that on some days.) Most people think we are just a bunch of poor folks trying to make an extra dollar, and that’s exactly what we want them to think.

    What do we know that you don’t? What are our secrets? Can you do it?

    Yes. Anyone can sell at flea markets and become wealthy…and I’m going to tell you exactly how right here.

    Becoming a flea market vendor is easy and affordable. Your expenses will be the cost of your merchandise and space rent. Daily rent for an outside space can be as little as $5-$10 per day. Many people begin by selling used items and move into selling brand new items purchased from wholesale companies. New items outsell used items two to one and have a higher profit ratio.

    Most people already have a table or two they can bring with them. I actually began my flea market and swap meet business with only $200 and a couple card tables I borrowed. I now earn thousands of dollars every month without fail. (Of course, the more money you have to buy merchandise, the faster your new business will grow.)

    The key is to let your new business grow. Don’t kill it by taking all the profits out of it! I suggest that you have a job or another source of income to cover your living expenses for at least the first six months after starting your new business.

    There’s an old adage in this business: ‘The more you have, the more you’ll sell.’ Believe me, it is true! Take that to heart and put all of your profits into buying more merchandise, so you’ll have even more to sell the next weekend.

    Who do you think most shoppers will go to, the guy sitting there with four items on a single card table or three spaces across the aisle from him literally loaded with millions of different items? If you think you have enough merchandise, you don’t.

    If you use your profits to build your business and buy more merchandise every week it won’t be more than a few months before your sales rapidly increase and you can begin keeping some of the profits for yourself without killing it.

    If you live in a northern climate that is cold in winter or a southern climate that is hot and humid during summer, you might consider renting a space inside a flea market building. Yes, your space rent will go up a bit, but you’ll have the advantage of heat and air conditioning (comfortable shoppers spend more money), as well as a secure enclosure for your tables and merchandise during the week when the market is closed.

    Once your first small business is running well, use the profits from it to open a second small business at the same flea market or swap meet, selling a different type of merchandise. Expanding is as simple as renting another space and hiring someone to run it for you. Again, your costs will only be merchandise and space rent and whatever you pay your help. (Be good to them and they will be very good to you.) Just as with your first business, put the profits back into your second business and allow it to build.

    The profits from two small businesses will allow you to open a third small business with ease. Do the same as you did before and allow your third business to grow. Put the money back into it by purchasing more merchandise.

    Then open a fourth, a fifth, a sixth small business at the same flea market. It’s not only possible but almost guaranteed that if you will do that you will create your own small business empire in less than one year and have a yearly income in excess of $100,000 after expenses.

    If you just put the profit back into your first new business, it will grow without another penny out of your pocket. The profits will allow you to open a second, a third and so on. You don’t need a small business loan to get started.

    Plus, you are not limited to just one flea market or swap meet. There may be other markets within 20 or 30 miles of you, where you can do the very same thing and multiply your earnings.

    If you follow this simple yet effective formula it won’t be long before you can stop selling at flea markets yourself and just become a manager, overseeing your small business empire and stepping in to give your employees breaks.

    Once you are making a very good income, consider other ways to invest your money to make even more profit, such as opening your own wholesale house and selling merchandise to flea market vendors and make even more.

    Flea markets and swap meets are an excellent venue in which the average person may start their own small business and become wealthy by creating a small business empire.

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    Source by Allen Farlow

    Views: 0

  • Online Dating – Needle in a Haystack?

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    No doubt about it, Internet dating has become a unique part of modern love. In fact, in New York, Internet dating has become so popular that it is now simply called ‘partner shopping’ or ‘hyper dating’.

    Online personal ads were one of the first niche markets on the web at the beginning of the net revolution and statistics now predict that 50% of single people will hook up with a partner online. However, with thousands of dating websites to choose from around the world, finding the right one can be difficult.

    If you’ve ever joined a general dating site you’ll know that trawling through a stream of profiles, with reams of personal information about housekeeping habits and suchlike, doesn’t mean that you will actually get along with someone. But the good news is that online dating is evolving, with recent trends showing a move towards specialist dating sites that aim to bring people with similar interests together.

    Sometimes linked to lifestyles, such as dating sites for bikers, interest-based dating sites are leading the way for a new generation of people looking for love on the worldwide web. With literally millions of people using the internet as a new social arena in which to make new friends and find a partner, people are discovering that there is a much better chance of making that all important connection through a specialist site where the members have shared interests.

    A recent survey by music-mate.com revealed that 80% of its members preferred interest-based dating sites, stating that they found it easier to make the first contact.

    Music-mate.com creator Diane Ainslie understands this new trend: ‘I’ve used the internet in the past to find a date and I really liked the idea of being able to meet up with people without all the usual fuss. But I often found I didn’t have a lot in common with the people I met. As a huge music fan, I realised that meeting people who shared a passion for the same music as me was a great basis to develop new relationships. You have something to talk about straight away!’

    And there’s the key. Joining a general dating site can be like visiting a strange city without a map. How do you even begin to find your way around? In choosing an interest-based site you’re starting on familiar ground. It’s easier to get talking and you’re more likely to meet someone you have something in common with. If half of all single people are using the Internet to find a partner, finding that special someone is like finding a needle in a haystack. It might just be time to jump on the latest bandwagon and find a dating site that interests you!

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    Source by Claire Gaskin

    Views: 0

  • How To Get Him To Make A Decision To Marry You In 30 Days

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    There is a way you can get him to marry you. You will understand and learn how and why certain things must be done to accomplish this. This method is fairly simple but it will take some courage on your part. It all depends on how badly you want to marry this man.

    Before we go any further, you need to make absolutely sure that this man is the one for you. You must be sure that this relationship is a good fit for you. Are your needs getting met? The simple fact that he has not married you, says that what he wants is more important than what you want. Don’t rationalize that your needs are not as important as his needs. That is a recipe for disaster. It is critical that you take some time to think seriously about this because there is no turning back.

    There is no such thing as a commitment phobic man who is afraid to commit. That is total hogwash. Do not accept any other excuses either. Because that is what it is, plain and simple, an excuse! He just doesn’t want to marry you and feels he has to give you some kind of reason. If you have made the mistake of moving in with him without at least an engagement ring, you are in a very frustrating and powerless position. He has no incentive to marry you because he is not gaining anything he doesn’t already have. If you are with him all the time and he knows you love him, he really doesn’t have anything to worry about. You need to change all this by being proactive instead of reacting to everything he does.

    These techniques work. They are time-tested and have worked down through the centuries. And this is why it is up to you to make sure that this is the right man for you. These techniques will not make him into a loving and kind man if he not already that when you marry him. So beware.

    What you need to do is absolutely make up your mind that this has gone on long enough and it is time he married you. If you truly believe this, he will sense you believe it too and that you really mean what you are saying to him. You need to tell him in a loving but firm manner that it is obvious that he will never marry you and that you have made up your mind that you are ready to find someone who will. Then you need to move out and not have any contact with him for 30 days, unless he is proposing marriage.

    You will be activating his fear of losing you and the life he has come to enjoy with you. This will cause him to do one of two things. One, he will ask you to marry him as he knows that is the only way he can maintain his life with you. Or, he will not respond and you will have your answer there as well, which will clearly reveal that he does not care enough to meet your needs. And do you really want a man like that? No.

    More than likely he will try to contact you repeatedly and will propose marriage or present you with an engagement ring. During this time you must not cave in. Remember that this is the only way you will get what you need. Congratulations! You had the courage to stand up for yourself and demand that your needs are as important as his.

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    Source by Betty L Nelson Adam

    Views: 0

  • How to Lose 50 Pounds in 11 Weeks – 5 Things You Must Do

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    Trying to lose 50 pounds in 11 weeks can seem like a formidable task, but I assure you it can be done.

    I’m assuming you’re not interested in using weight loss pills, appetite suppressants, surgery or any of that other junk to lose 50 pounds in 11 weeks, which is good…’cos I hate those things. Don’t get me wrong, they have their place in certain situations, but in most cases, are an unnecessarily extreme measure.

    When you consider that a gastric bypass operation can cost anywhere between $25,000 to $35,000 US dollars, you have to question whether the advice given to some folks to go through with it is in their best interests or that of the surgeon and his pocket.

    Trying to lose 50 pounds in 11 weeks may be a tough challenge but there are a few things you can do to make your life easier.

    Here are 5 top tips you should follow when trying to lose 50 pounds in 11 weeks.

    1) Believe in yourself / set goals

    The first and most important thing is getting in the right frame of mind. This may sound strange since you already know you want to lose 50 pounds in 11 weeks…so what do I mean?

    Well, don’t worry, I’m not gonna go all Tony Robbins on you and get you jumping up and down in a euphoric state (although there is some truth to that). Rather, I’m saying that you need a clear picture of where you want to be, and focus on it. You need to feel like you’ve already managed to lose 50 pounds in 11 weeks…think about it…how does it really feel. Are your work colleagues inspired and envious of your new body and transformation? Do you have the confidence that you were lacking to ask out that hot guy or gal you’ve had your eye on for like forever?

    Only by picturing it in your mind will you be able to set goals for your success and believe that you can and will lose 50 pounds in 11 weeks. The goals will be the checkpoints on your journey, the self-belief will be the fuel that keeps you going.

    2) Find a good trainer and surround yourself with good like-minded people

    This is an essential and often overlooked part of trying to lose 50 pounds in 11 weeks. A lot of people don’t realise that who they surround themselves with plays a huge part in their self-belief, attitude, and overall motivation and determination. It has been said that a person is the average of the 5 or 10 people they hang around with the most, and this regards health, wealth, ambition, aspiration, relationships, family etc. This is not a hard and fast rule, but I feel there is some truth to it.

    Trying to lose a lot of weight quickly will be demanding and therefore you want to surround yourself with positive folks who are rooting for you, and not people who are waiting for you to fail, so they can say “I told you so!”

    Now, I’m not saying you should just give up and avoid your family and friends, but rather to seek out folks who have similar goals, and understand your situation. Finding people who have been where you are now and achieved your goals can give you a real push to do the same. Why do you think things like Weight Watchers clubs are so successful? It’s because they bring all these people together and they help each other out.

    Where can you find these people? There are loads of forums online where you can find people who are trying to lose weight. Just going to Google or Yahoo and typing something like “weight loss + forum” (without the quotes) will yield all sorts of great things. There are also loads of weight loss and fitness programs online that you can follow to lose 50 pounds in 11 weeks.

    The same applies to your trainer, coach, or workout program that you choose to follow. Are they supportive yet ambitious, pushing you on when things get tough? If not, find one that is.

    3) Eat a healthy diet

    Obviously, diet and nutrition is fundamentally important when trying to lose 50 pounds in 11 weeks. Taking on too many calories will mean you always put on weight, period. Therefore, you will need to create a caloric deficit, by taking on fewer calories than you burn, forcing your body to burn up the fat deposits and use it as energy.

    Finding the right diet is important, and many folks go about it the wrong way. Starving yourself is a big no-no. You may lose a few pounds in the first few days, but it won’t last, as your body will transition into starvation mode and slow down your metabolism to burn less fat (it’s your in-built survival mechanism), making it even harder to lose 50 pounds in 11 weeks.

    So what can you do? Eat more! Yes, by eating smaller meals more regularly you will maintain your metabolism at a higher rate, and this, combined with exercise, will help you lose the pounds faster.

    Green fibrous vegetables like broccoli, green beans, asparagus and lettuce are great healthy foods that can actually help you to burn fat, and it’s almost impossible to overeat on them. Eating more of them in the later part of the day along with a good lean protein like chicken breast is one of the best methods of getting lean as quickly as possible, and losing 50 pounds in 11 weeks.

    4) Follow a good exercise plan

    Without exercise, even the best diet plan in the world will struggle to help you lose 50 pounds in 11 weeks. You need to exercise in order to get the full benefit of the caloric deficit we mentioned earlier. It will create the furnace where you burn off those unwanted pounds.

    Regular exercise also aids the mind, confidence and overall health. By tightening up, toning and growing your muscle, you also help your body to burn fat faster. Did you know that muscle can actually help you burn fat? So the more muscle you have the more fat you can burn, because your metabolism will work faster with more muscle.

    Find a good training and exercise plan, with a good variety of cardiovascular work for your overall fitness, endurance and toning exercises like pushups and sit-ups, and some light weight training.

    5) Stick to it!

    This is the most important and often the hardest thing when trying to lose 50 pounds in 11 weeks. The best diet, exercise routine, trainer, and goals, mean nothing without the small action of going and actually doing it. Things may get tough over the next 11 weeks, but sticking to it and following through will show results, and you’ll be amazed at what you achieve. Once you see a little success you’ll be hungry for more and then it’ll be so hard to stop the momentum you build up, that 50 pounds in 11 weeks will seem like a piece of cake!

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    Source by John Wheeler

    Views: 0

  • Learning The Keys To Submission In Marriage

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    It is a divine law for wives to be submissive to their own husbands if they are to have a blissful marriage (Ephesians 5:22). Some wives would like to do so, but they do not know how. The keys to effectively submit to the one they love are here. Take them. Apply them. Enjoy that marriage of your dream.

    Submission is willingly putting oneself under an authority. The proud and ungodly, says it is foolish to be submissive, but to the humble and godly, it is wisdom. Every wise woman builds her house; but the foolish plucks it down with her own hands (Proverbs14:1). When we refuse to do God’s word we expose our lives to the influence of the devil, who comes in to steal, to kill and to destroy peace in marriages. God’s word is a road map to anyone who adopts it. Therefore, a wife’s submission to her husband is not to debase her in any way nor to advocate her husband’s supremacy. It is wisely recognising and fulfilling her complimentary role in the marriage union. If we will let this mind be in us, the struggle for supremacy, pride, arrogance, and rebellion in homes would stop. Let us examine some of those keys to learn.

    The first key is that submission must come from your heart. Until submission takes its root in your heart it will not endure when pressure comes. This is why women who conditionally submit to their husbands soon become rebellious when the motivation for it fades. Make your heart tender with the Word of God. You might ask how? Use the Word of God. When you hear the Word of God on submission, receive it with meekness and joy; keep it and do it patiently until the fruits become evident for all to see. Learn to diligently guard your heart against the subtle voice of the devil trying to steal those lofty Words you have heard.

    Meditation on the Word on submission is a second key you need to learn. Ensure you meditate on the word of God you hear until it becomes a part of your being so that it can bear fruit in your marriage. Speak words that will boost the morale of your spouse. Speak edifying words to your marriage. Take positive actions that will truly prove you are the submissive wife of God’s dream.

    The third step is to take practical steps against rebellion in your heart. One of such steps is to mind the company you keep. The bible says evil communication corrupts good manners. It is time to deprogram your life of those worldly associations that have programmed you for rebellion against the peace of your mind. Let those of them in captivity seek deliverance. You are a free child of God. So, be it! Remove those books and movies that are contrary to the Word of God from your shelf. You don’t need them. Take a stand. It is in your own interest.

    Added to the above is absolute love for your spouse. Perfect love casts out fear, the fear of dominion. If you truly loved him you would submit to him in all things. You will not be afraid of him dominating you because submission attracts love. Let your love for him be tangibly expressed. Overcome that fear with your expressed love.

    Above all, both partners should submit to God. The husband’s submission to God will attract same level of submission from his wife. Abraham submitted to God and Sarah submitted to Abraham.

    In conclusion, every great marriage must make God’s word the standard for living. God’s word advocates submission as the key to a successful marriage. Therefore accept it.

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    Source by Christopher UI Ogholoh

    Views: 0

  • Marketing Strategy: 7 Steps to Market Segmentation

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    Market segmentation is widely defined as being a complex process consisting in two main phases:

    – identification of broad, large markets

    – segmentation of these markets in order to select the most appropriate target markets and develop Marketing mixes accordingly.

    Everyone within the Marketing world knows and speaks of segmentation yet not many truly understand its underlying mechanics, thus failure is just around the corner. What causes this? It has been documented that most marketers fail the segmentation exam and start with a narrow mind and a bunch of misconceptions such as “all teenagers are rebels”, “all elderly women buy the same cosmetics brands” and so on. There are many dimensions to be considered, and uncovering them is certainly an exercise of creativity.

    The most widely employed model of market segmentation comprises 7 steps, each of them designed to encourage the marketer to come with a creative approach.

    STEP 1: Identify and name the broad market

    You have to have figured out by this moment what broad market your business aims at. If your company is already on a market, this can be a starting point; more options are available for a new business but resources would normally be a little limited.

    The biggest challenge is to find the right balance for your business: use your experience, knowledge and common sense to estimate if the market you have just identified earlier is not too narrow or too broad for you.

    STEP 2: Identify and make an inventory of potential customers’ needs

    This step pushes the creativity challenge even farther, since it can be compared to a brainstorming session.

    What you have to figure out is what needs the consumers from the broad market identified earlier might have. The more possible needs you can come up with, the better.

    Got yourself stuck in this stage of segmentation? Try to put yourself into the shoes of your potential customers: why would they buy your product, what could possibly trigger a buying decision? Answering these questions can help you list most needs of potential customers on a given product market.

    STEP 3: Formulate narrower markets

    McCarthy and Perreault suggest forming sub-markets around what you would call your “typical customer”, then aggregate similar people into this segment, on the condition to be able to satisfy their needs using the same Marketing mix.

    Start building a column with dimensions of the major need you try to cover: this will make it easier for you to decide if a given person should be included in the first segment or you should form a new segment. Also create a list of people-related features, demographics included, for each narrow market you form – a further step will ask you to name them.

    There is no exact formula on how to form narrow markets: use your best judgement and experience. Do not avoid asking opinions even from non-Marketing professionals, as different people can have different opinions and you can usually count on at least those items most people agree on.

    STEP 4: Identify the determining dimensions

    Carefully review the list resulted form the previous step. You should have by now a list of need dimensions for each market segment: try to identify those that carry a determining power.

    Reviewing the needs and attitudes of those you included within each market segment can help you figure out the determining dimensions.

    STEP 5: Name possible segment markets

    You have identified the determining dimensions of your market segments, now review them one by one and give them an appropriate name.

    A good way of naming these markets is to rely on the most important determining dimension.

    STEP 6: Evaluate the behavior of market segments

    Once you are done naming each market segment, allow time to consider what other aspects you know about them. It is important for a marketer to understand market behavior and what triggers it. You might notice that, while most segments have similar needs, they’re still different needs: understanding the difference and acting upon it is the key to achieve success using competitive offerings.

    STEP 7: Estimate the size of each market segment

    Each segment identified, named and studied during the previous stages should finally be given an estimate size, even if, for lack of data, it is only a rough estimate.

    Estimates of market segments will come in handy later, by offering a support for sales forecasts and help plan the Marketing mix: the more data we can gather at this moment, the easier further planning and strategy will be.

    These were the steps to segment a market, briefly presented. If performed correctly and thoroughly, you should now be able to have a glimpse of how to build Marketing mixes for each market segment.

    This 7 steps approach to market segmentation is very simple and practical and works for most marketers. However, if you are curious about other methods and want to experiment, you should take a look at computer-aided techniques, such as clustering and positioning.

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    Source by Otilia Otlacan

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