What You Need to Know About the GDPR (and Why!)

Is your business GDPR compliant?

Unless you've been hiding under a rock lately, you have probably heard about the GDPR.

The GDPR is the General Data Protection Regulations that are coming into effect for people living in the European Union (EU) beginning Friday, May 25, 2018.

Here is what you need to know*:

What is the GDPR?

The General Data Protection Regulation (GDPR) is regulation in EU law on data protection and privacy for anyone living in the European Union. (Which countries make up the European Union? Click here). The regulation also addresses the export of personal data outside the EU - so, wherever you live.  The GDPR gives control of their personal data to the citizens of the EU. They have the right  to know who has their data, why they have it, what they are doing with it, who they are sharing it with, and how to access it and delete it.

The GDPR actually came into being in April 2016, but there has been a two-year transition period in place. It becomes enforceable on May 25, 2018.

Why is it important?

The GDPR is important to residents of the EU because of the rights they will now have regarding their own personal data worldwide. It is important to those outside the EU because if you are collecting, processing or holding the data of someone in the EU and they have not consented for you to have it or use it, you could face stiff fines (up to $20 million pounds or 4% of your company's worldwide income). This is a law, and it is enforceable, so that is what makes it so important to understand. 

What kind of data is included?

The regulations include what is called "Personal Data". Basically, the main purpose of the GDPR is to protect the personal data of EU citizens. Personal data is anything that is identifiable to a specific person. It's not just about email addresses. It's about IP addresses of computers, names, addresses, credit card information, and more.

How will it affect my business?

If you are not connecting with or marketing to residents of the EU, you could be safe. However, this doesn't mean that you have EU customers. This includes your customers, your email subscribers, your website and blog visitors, anywhere you have contact with EU citizens is affected. If you are using custom audiences for your Facebook Ads, you will need to be sure your mailing list knows. And if you are using Google Analytics or Facebook pixels on your website, you are collecting cookies and that needs to be made compliant (for EU citizens) as well. 

The GDPR regulations are for data processors and data controllers. , etc. the basis of the GDPR is that it includes data processors and data controllers. The official definitions of these two are:

Data controller:  Article 4 (7) ‘controller’ means the natural or legal person, public authority, agency or other body which, alone or jointly with others, determines the purposes and means of the processing of personal data; where the purposes and means of such processing are determined by Union or Member State law, the controller or the specific criteria for its nomination may be provided for by Union or Member State law;

Data processor: Article 4 (8) ‘processor’ means a natural or legal person, public authority, agency or other body which processes personal data on behalf of the controller;

Data controllers are you, and anyone else who works within your company who has access to the data that is being collected. 

Data processors are the businesses or services you might use to process the data that is being collected.

Simple example: If you have an opt in on your website, and you use Aweber as your email service, and you have Google Analytics activated on your website, YOU are the data controller. Aweber and Google Analytics are the data processors. Make sense? So your data processors are your ecommerce/bookkeeping systems (or services), your email system, etc. 

What do I need to do to comply with GDPR?

Review your processes and update as necessary:

  • Maintain records of the data you are collecting and processing (or having processed on your company's behalf). 
  • Make a list of those who are processing your company data for analytics, mailing lists, marketing, payment processing, online storage systems, web hosts, website, etc.
  • Ensure that you have proof of consent for personal email data (ie mailing list). If you can't prove consent, obtain fresh consent.
  • Implement a system for people to choose the way you can use their data (ie allow them to opt out of any and all forms of retargeting, marketing, segmentation, and communication).
  • Develop a plan to remove stale data from your company's records.
  • Be certain that your business's data processors are GDPR compliant.
  • Educate your employees, subcontractors and partners on your procedures if they are handling your data in any way, or provide a Code of Conduct for them to adhere to.
  • Update your Privacy Policy on your website to include GDPR compliant language (or add a special GDPR addendum to your existing Privacy Policy if you prefer and link it to your existing policy). Add a link to this page on every page of your website, and on your data collection forms (order forms, email opt ins).
  • Update your Terms of Service on your website to include GDPR compliant language. Link your terms page to your Privacy Policy page.
  • If you do use analytics or a Facebook pixel, install a notification (pop up) to tell people their data is being collected when they visit your site.
  • Ensure that your contacts are able to contact you easily if they have they questions about their data that you may be in possession of, or request for their data to be deleted from your possession ('the right to be forgotten').
  • Develop a system to handle a data breach, should it occur.

Get more information:

If you want the whole shebang in plain English, this is the best article we have found to explain it clearly: Varonis (Michael Buckbee): GDP Requirements in Plain English

Suzanne Dibble is a UK lawyer who provides excellent information about GDPR compliance. She has a free checklist here: http://globalava.org/gdpr . She also runs an excellent GDPR specific Facebook group (download her checklist to get an invitation to join it), where you can get specific help.  She also sells a GDPR Compliance Pack that provides all the forms you might need to become compliant, if you want a handy little package (the webinar is very helpful too!) 

The Bottom Line:

Whether you are actively marketing to EU citizens or not, these are good changes to make to your business. It probably won't be long before something like this is rolled out by other countries as well. Data protection is a huge topic of discussion in all areas of business. Don't avoid the whole thing and hope you don't get caught. Do what you need to, to become compliant. Know what data you are collecting, develop good procedures to handle, process and store it, and make sure your connections know that too, and you'll be just fine. 


Disclaimer: The Canadian Assocation of Virtual Assistants (CAVA) is not an official GDPR resource. CAVA is a educational website and blog, and the information contained within this site in no way constitutes legal advice. Any person who intends to rely upon or use the information contained herein in any way is solely responsible for independently verifying the information and obtaining independent expert advice as required to become GDPR compliant.

*Article sources: Suzanne Dibble (UK Lawyer), Information Commissioners Office (ICO), Varonis Systems Inside Out Security, Europa EU, Wikipedia (definitions), 

The Decision Making Process in the Human Brain

This is a guest post from Josh Wardini from 16 Best about how the decision making process affects how consumers shop. Though it is not specific to Virtual Assistants, I found the infographic very interesting and was amazed by many of the statistics (there are a lot in this infographic!!) and thought you might like to check it out too! Enjoy!

 

Shoppers Psychology Infographic 16 Best Josh Wardini

(Click the image or here to view the full amazing infographic!)

Shopping can be quite a psychological affair, whether we know it or not. Businesses, whether selling goods or services, have a few tricks up their sleeve when it comes to encouraging customers to make a purchase. Elements such as the color of wording on signs, the music that is playing, and the smell in the air can all have an influence on the shopping buying decisions.

Many people would assume there is a difference when it comes to the psychology of purchasing a service compared to the psychology of buying a product, but often this is not the case at all. For example, color can also be used when one sells services, as color increases brand recognition by 80%. Different colours have the power to change consumer behavior. Advertise a service in red, for example, and you could attract impulse shoppers, or use blue hues and shoppers on a budget may be interested.

The possibility of getting a discount is also a major influence for shoppers, and brands around the world have been using this strategy for years. A good example is Budget, a car rental company from New Jersey that utilizes a Best Price Guarantee to offer discounts to their clientele, and this tactic has proven very efficient at keeping customers, acquiring new ones and developing brand loyalty.

The wording used to advertise and describe a product can also affect consumer behaviour. 60 percent of customers are more likely to buy a product or service that has the word ‘guaranteed’ used to describe it. Additionally, 68% of consumers have also said that a stored signage reflects the quality of its products or services.

If consumers are buying online, then different things may affect the purchasing decision. Features that are likely to have an influence are discounts and offers, trustworthy reviews, a mobile friendly webpage, and the brand’s reputation as a whole, to name just a few.

Guest post by Josh Wardini: Josh Wardini, Editorial Contributor and Community Manager at 16best.net. With a preliminary background in communication and expertise in community development, Josh works day-to-day to reshape the human resource management of digitally based companies. When his focus trails outside of community engagement, Josh enjoys the indulgences of writing amidst the nature conservations of Portland, Oregon.

5 Ways a Solid Content Planning Strategy Helps You Get More Clients

Many Virtual Assistants do not realize the impact that content planning can have on their business.

There are a lot of mental barriers that come up for VAs when it comes to what to put out there, where to put it, and what it’s all for.

That can lead to a lot of time wasted thinking about all of these things.

And often, it means that Virtual Assistants put the wrong kind of content out for their audience to see.

Or worse, they don’t put anything out at all.

How many inspirational quote graphics do you post in your social media channels?

If they are not relevant to the services you offer your clients, they are not working for you in the way that they can be.

The bottom line is that we use content as a means to get clients.

If you don’t take the time to plan your content strategy, you can waste a lot of time and effort and see no results whatsoever.

Here are 5 way a solid content strategy helps you get more clients:

1 - Strategic planning saves you time.

If you have ever done any business planning, you know that the better prepared you are, the easier it is to execute your plan. We do this every day for our clients, but sometimes we forget to do it for ourselves. When you have a strategy, you know where you are going to focus your marketing – and that give you more time to spend interacting with potential clients. Tip: If you find yourself spending endless hours trying to put content together, take a half hour now to plan your content for the coming week. What you want to post, and where. You’ll see how much time you’ll save! (then do the next week, and the one after that!)

2 - Content goals become clearer.

What do you want your audience to do when they see your content online? Knowing your end goal is very important whether you are writing a blog article, recording a video, or creating graphics to post on social media. What do you want them to do? You want them to work with you, that’s for sure. While it’s nice to see email opens and blog comments, you really want them to take action. Tip: Instead of just writing any article for a blog post, plan what you want your people to do and work back from there. Your message will come through much more clearly, and they will know the next step.

3 - Measurable results help you improve what you put out there.

When you use content marketing as a means to build your business, you need to make sure that your business is, in fact, building. Using SEO properly in your content helps it get seen better, which is the point of content in the first place. When you build content using keywords and relevant hashtags, you are putting more eyes on it. Are you getting more signups to your list? Are you getting consultations? Are you having conversations with potential clients? If not, your content could use some work. Tip: Choose some keywords that will be the foundation for your marketing message. Don’t underestimate the power of Google and search functions. People want to find what they are looking for. When you choose your SEO pieces effectively, you will be seen.

4 - Consistent messaging positions your expertise.

Is your marketing message consistent through all of your marketing? If it’s not, your audience could be confused by your content, making it less effective. Planning helps you to figure out how to sprinkle your main marketing message throughout all of your marketing platforms so your message is the same everywhere. Tip: Use your content plan to select some broad topics and some categories, and develop your content around those.

5 - Reach your audience in a way that makes them respond.

Your audience doesn’t always like to consume their content in the same way. Some people prefer short posts, some like video or audio. If you make a plan of what you want to post, you can also plan to produce content in different formats that might be more appealing to some of your audience. Tip: Repurpose blog posts into social media graphics or videos. The more your potential clients hear about your expertise, the more effective it becomes.

Remember the whole idea behind sharing content is to get clients.

Marketing is all about putting your message in front of your potential clients so that you are top of mind when they need help.

Make your content work better for you by making a plan and developing your content around the plan.

You will make better use of your time, your audience gets a clearer message, and you can position yourself as the expert in your field.

Content Planning Masterclass for VAsWant to learn more about content planning?

If you want to learn more about content planning and see a demo of a really cool tool to help you manage yours, join us for this Content Planning Masterclass on Thursday May 17th at 1 pm Eastern.

Andy Lambert from Content Cal is my special guest for this training class.

Read more about the session and register here!

 

5 Tips to Manage Multiple Virtual Assistant Clients

 

How do you handle more than one client’s work at a time?

Virtual Assistants often work with many clients at the same. It’s a more common model to have many clients than it is to just work with two or three clients (once your business is established of course!).

How do you handle it when everyone needs something at once?

As much as you are your own boss in your business, the clients are really the ones who fill your time on a daily basis.

So how do you handle more than one ‘boss’ at a time?

Simple ... scheduling, clarity and good communication are the three most important things to get right in your VA business, so you can get your clients’ work done, and keep your sanity!

I have often warned VAs of being ‘at the ready’ with their clients – it’s easy to form an employer-employee relationship with someone that you work closely with, and it’s important to guard those boundaries as a partnership instead.

When you work with a lot of different people, they all have different requirements and different schedules and different deadlines.

Here are 5 tips on how to manage multiple clients better in your virtual assistant business:

 

1. Block time in your schedule to work on a client’s work. 

Gather projects that need doing for the same client, and do several of them at once. This way you can concentrate on (and bill) their work during one time period. It’s not necessary to tell a client when you are working on their pieces, ie ‘Thursday from 10 to 11 am’, but you should let them know when you will deliver the completed task/work to them.

2. Be clear with lead time and deadlines.

It’s up to you to make sure that your clients know how much lead time you need for tasks and projects. Once you do, you must hold them to those deadlines and lead times as much as possible, in order to honor the relationships you have with all of your clients. If you have a client who often sends you last minute requests, it can throw off your schedule for all of your other clients, who may be respecting your deadlines. The more prepared your clients are, the better you can manage your whole workload.

3. Schedule production calls weekly.

It’s important to have regular communication with your clients for the ongoing tasks you have in your schedule for them. By having a quick weekly phone call you can work out any details for the upcoming week, and everyone is on the same page. The remainder of communication can take place through email as required, but that personal touch is really important when you work virtually.

4. Protect your boundaries.

Boundaries are very important when you are working as a virtual assistant. You have to be sure that everyone around you (including you!) protects those boundaries, so that you can get the things done that you need to get done, when they need to get done. If you are like me, your time is precious and you want to maximize it. So be sure to set your boundaries for turnaround times, deadlines, phone calls, or whatever else, and stick to them.

5. Be proactive.

When you are not working on a client’s work, you should still be thinking about them. Be sure to let them know this. The production call is great, but be sure to check in with your clients to see if there are other things they need done. It can be a great way to increase your billable time with them, and build a better client relationship. Working with the same types of clients makes this piece easier – what you are doing for one you can also be doing for others.

Good communication, clarity and scheduling will help you to achieve a smooth schedule and you will be able to handle many happy clients every day. And of course, that will make your ‘boss’ (you!) happy too!

While you need to do all of these things, you also have to find great clients to work with. Get a few ideas about how to do that here.  

 

Marketing Activities You Need to Schedule

Scheduling your marketing activities is key to ensuring you are consistently and successfully getting the word out about you and your company and all the great services and products you have to share with people.

There are several formats that people use to schedule things – to- do lists, activity lists, calendar items, list of projects, sticky notes all over their desk, and so on. It doesn't really matter how you do it as long as it works for you.

There are going to be three general types of marketing activities that you'll want to put into your schedule:

Ongoing everyday marketing activities include those that you do regularly.

Some examples are:

1. writing your ezine

2. adding new auto-responders to your email series

3. writing blog posts

4. contributing to online forums and blogs

5. networking events

6. writing content for your monthly teleseminar

7. adding content to your website

8. writing articles for submission

9. checking your website analytics

10. communicating with your affiliates

11. sending out press releases

12. networking on social media sites such as Facebook and Linked In

Specific one-time projects would be marketing tactics that occur as a special or one-time opportunity. For example:

1. a workshop you're putting on

2. creating a new product

3. setting up a referral program

4. a joint venture with another company

5. flushing out the specifics of a new service you're going to offer

6. a speaker series you've been invited to share at

7. setting up your affiliate program

8. running a special promotion

9. writing a book

10. a new website

11. setting up a blog

Time set aside for idea generation is important. You need to schedule this in just like any other marketing activity. Things you'll "think" about during this time can include:

1. researching possible joint venture partners

2. thinking about ideas for a new product, service or book

3. taking a look at some colleagues websites and blogs to see what they are up to

4. daydreaming about the direction you'd like your company to go

5. brainstorming about your professional and personal goals

Write down a list of all the different marketing activities you currently do and start scheduling them into your calendar and to-do lists. Make sure you look at your schedule first thing in the morning and different times throughout the day to make sure that you're staying on course.

Commit to your marketing by having a schedule and you'll see your business grow and attract new and old clients on a consistent basis.

How to Make Time for Marketing

To start getting business and success, you must make time for marketing. Most small business owners and solopreneurs know this…let's face it, they've heard it over and over again.

Virtual assistants are no different. We are often so busy doing client work that we run out of time to do our own marketing.

People insist that they don't have enough time to do everything, and certainly not to do marketing!

I know that it's tough – believe me it's the same for me sometimes. But I have seen the results when I do make time to market and so that keeps me finding time, even when it seems impossible.

I have also seen the results that other successful business owners get…and it's because they make marketing their #1 priority.

If you've made marketing a low priority, here are some things for you to do TODAY to start to change that:

• go to your calendar, make a 30 minute block every second day, for the next month and label it: Do Marketing!

• turn off your email/phone/social media and work uninterrupted for 20 minutes on making simple connections on social media, or on follow up
from an event you have recently attended.

• make a list of your time-wasters during the day (internet surfing, computer games, yakking with friends, surfing Facebook) and the next time you
start to do one of these activities, stop and do a marketing task instead: call a client, jot down 5 ideas for new articles, write a blog post, research a
guest for your next teleseminar, write a special email to your list, etc.

• take a look at all the ezines you get and ruthlessly start unsubscribing – keep only the ones you actually open, read and take action on.

Marketing is an ongoing process for you for the lifetime of your business. The sooner you start cultivating consistent marketing habits, the sooner you'll start reaping the rewards you want.

Try taking these small steps...they may seem big, but they are doable. With consistent effort you will see consistent results – attracting more clients and prospects than you think!

You will also feel really good about your ability to market effectively and this increased confidence will show throughout all areas of your business and personal life.

So what are you waiting for?! Get going on those steps….

How to Get That First Client

Congratulations! You’ve set up your Virtual Assistant business and are ready for your first client. It’s a big step and one that deserves celebrating. So now that you’re ready to work, how do you get that first client? Consider these options:

Job Board

Job boards are a wonderful tool. They can help you launch your business. They can provide a consistent income while you’re building your business. And when you have the eventual dips in your schedule or slow season you can use them to provide additional income.

As a virtual assistant you may want to focus your attention solely on job boards for virtual assistants. There are all encompassing freelance job boards. These generally require a membership. The freelance job board can serve its purpose. However, you may find better clients via a VA job board. Check out both options and choose the opportunities that are right for you.

Always research your potential client. Make sure they’re legitimate and that they follow through on their commitments. Some job boards simply work like classified ads. You apply for the position and communicate directly with the client. Others work as a go between. All agreements, payments and work are managed through the job site. Both situations have their pros and cons. Again, make sure you’re working with a legitimate company and job site. Check references. Read reviews. Most opportunities are legitimate. However, it always pays to be safe.

Use Your Resources

When you’re ready for that first client, tell your friends and family. Make a list of 100 people you know and begin to determine who you can contact regarding your business. Send an email to your associates. Let everyone know what you’re able to provide. Your rolodex of contacts is a great place to get started. With a few simple email messages and phone calls you’ll likely land a few great clients. There’s no shame in using your resources. And there really are no better clients than those who are referred to you from friends, family and associates.

Network

If you’re not already active on a social networking site, get a profile and start connecting. Networking online is a wonderful way to market your services. It’s also a great way to meet new people.

Network offline too. Join your local business association or networking group. Become a member of your Chamber of Commerce. Participate in local meet-ups and networking events. Make sure you have a business card and a positive attitude when you’re networking. (An online presence is a must as well. )

Also consider:

• Making sure your business is listed on your local online business directory
• Advertising
• Article marketing
• Blogging/guest blogging
• Posting flyers around town

There are many ways to market your VA business. Knock on doors. Connect with people online and in your community. Use your resources and explore your opportunities. You’ll have a full schedule in no time.

 

Get the Most Out of Your Marketing Message

Your marketing message describes the core of your business and your clients. It's essential that it accurately reflects your offerings so that new and future prospects and customers know exactly what you offer and how you can help them.

The whole idea of a great marketing message is that it helps prospective and current clients, vendors and partners understand quickly and easily how you can help them. You will use it in all of your promotional, sales and marketing materials and activities.

Your marketing message serves as your message blueprint and will be where you go every time you need to write marketing copy. By referring to your marketing message whenever you create marketing you'll ensure your marketing communications are always on target and consistent.

You can take the elements of your marketing message and put it into different forms to suit different marketing purposes and situations.

Below are many of the ways you can use your marketing message (or components of it):

• Social media profile bios
• Social media posts
• elevator speech (what you say when someone asks you what you do)
• headline on your webpage
• headline for a sales page or ad or flyer
• your voicemail message
• author resource box on articles and podcasts
• tagline for letterhead
• email signature
• title for an article
• title for a seminar or workshop
• use in creation of a logo
• content for an email campaign
• include in your bio for talks, books, website, teleseminars
• create a product, service or program
• website copy
• business card

Schedule an hour every week for the next while and use this time to look at all of your current marketing communications – your website, brochures, ads, emails, direct mail, business cards, social media profiles, sales literature etc. Choose one or two at a time to look at, and rewrite or tweak it to ensure that it is current and clear.

Your marketing message needs to grab your prospect’s attention immediately, and describe how you can solve their problem, why they should trust you and why it’s in their best interest to do business with you.

Your business, you, your products and services, your target market – are all in flux and will change and grow and develop over the course of being in business. As a result, your marketing communications will change too – as will your core marketing message.

Take the time to ensure that all your marketing communications say exactly what you want them to say and accurately reflect you and your company. Then start reaping the rewards of a fulfilling, lucrative and successful business, providing a valuable and needed service!

 

Your Marketing Plan Goals Check Up

It’s a good idea to check where you’re at in terms of your marketing plan goals and objectives. Some people check weekly, others do it every month – but you should definitely check at least once per quarter.

Your goals might include revenue, number of sign-ups to your list, number of products sold, number of visitors to your website and blog – and so on. Regardless of what you measure, you want to make sure you take time out regularly to see how you’re doing.

You’re rocking!

If you are humming right along and reaching your objectives - that’s fantastic.

Some questions to ask yourself:

• Have you been working like a mad dog to reach your objectives and can you now slow down a bit?
• If you are easily managing your current level of marketing, are there a couple new tactics that you’d like to add to the plan?
• If there’s extra revenue, is it time to hire a Virtual Assistant, bookkeeper, or other help to free up your time to work on new ideas, products and
services? Or to be able to service the extra clients and business your marketing is bringing in?

You’re sucking!

The reason we have goals and objectives is so we know if we’re meeting them – or not. If you’re not, don’t despair! There are a few things that could be impacting this and you can tweak or change these.

Some questions to ask yourself:

• Have you been doing the tactics on your marketing plan consistently? Did you fall off of your plan?
• Does your plan have enough marketing tactics or are you relying on only one strategy?
• Are you giving prospects enough different ways to reach you?
• Does your marketing message come across loud and clear in all your communications (website, sales letters, emails, ezine, blog, etc.)
• Did you add any new services or products?
• Does your marketing plan have tactics that work off of and build on each other?
• Has your target market or niche changed? Is your marketing still aimed at the “right” market?
• Has there been any dramatic change in the competitive environment that could be impacting you?
• Where in the marketing process are you falling down? Attracting new leads? Converting into clients? Keeping clients?
• Do you need to revise or create new marketing materials? Update your website content? Do an overhaul of your ezine?
• Have you given enough time for the marketing tactics to work? Some tactics take longer to show results than others.

Incorporate regular assessments of your marketing plan goals and progress into your business workdays. There are lots of variables that can affect your success, and by being proactive you can keep on top of any changes, good or not-so-good, and keep heading upwards and onwards!

 

Why You Need a Niche Market

A niche market can be thought of as a narrowly defined group of potential customers - usually a portion of a larger target market. For example, a target market is working women, but a niche market is working women with kids at home, or working women in executive positions, or working women in the financial sector.

As a small business owner, you usually do not have the money, resources and time to market to a larger target market. You need to focus your marketing efforts on those people most likely to buy what you offer.

Think of narrowing your niche as simply positioning yourself more closely to the people or companies who could benefit most from your services.

Many of us like to believe that the number of people who want and need our product or service has no limit. Also, most of us truly want to help as many people as possible and so therefore believe we almost have an obligation to let everyone know about what we offer.

But the truth of the matter is if a small business tries to market to everyone, they'll eventually lose money and quite possibly go out of business.

I know it seems to go against common sense that we make more money and have more success when we limit the scope of who we market to. However, it is true and its been proven over and over again by very successful small businesses.

There are many reasons why it makes good business and marketing sense to have a niche market:

• you can focus your marketing efforts and not dilute them by trying to appeal to everyone

• it allows you to stand out as an expert in your niche which makes people come to you

• you attract significantly more business

• you have a natural competitive advantage because you can dominate your niche

• your marketing materials and communications are more targeted and therefore more effective

• people more easily refer business to you as they have a very clear idea of who you appeal to

• you can easily determine what opportunities to say yes to and which ones to pass on

• your creativity and strengths get to shine through

• makes it easy to find suitable strategic partners and joint ventures

• you spend less money on getting your message out there because you're not wasting time and resources on talking to people who aren't
interested in what you have

By taking the time (and the deep breath!) to narrow down your target group into a niche market that your company, products and services are best suited to serving, you'll be making a huge investment in a successful future.