#241: Tactical Tuesday: 5 Ways to Scale & Expand Your Business Market

<p><strong>OVERVIEW:</strong></p> <p><span style="font-weight: 400;">Jason A. Duprat, Entrepreneur, Healthcare Practitioner, and Host of the</span> <em><span style= "font-weight: 400;">Healthcare Entrepreneur Academy</span></em> <span style="font-weight: 400;">podcast, talks about choosing the right market for your business model. To achieve favorable outcomes, entrepreneurs should offer products or services to a market with the best possible opportunities. Jason shares five ways to scale up and expand the right market to achieve growth. </span></p> <p> </p> <p><strong>EPISODE HIGHLIGHTS</strong></p> <ul> <li><span style="font-weight: 400;">In episode #238, Jason talked about how entrepreneurs can bottleneck their businesses. Another bottleneck to consider is the market you serve.</span></li> <li><span style="font-weight: 400;">A good market has five attributes: it's large-sized, has a solvable pain point, has purchasing power, is easy to get in front of in a cost-effective way, and it’s growing.</span></li> <li><span style="font-weight: 400;">Large-sized markets ensure the business has customer reach.</span></li> <li><span style="font-weight: 400;">Your products or services must be the solution to an existing problem in the chosen market.</span></li> <li><span style="font-weight: 400;">Purchasing power is especially vital – a business cannot thrive if customers cannot afford it.</span></li> <li><span style="font-weight: 400;">Choose a market where advertising is easy and cost-effective.</span></li> <li><span style="font-weight: 400;">Make sure the chosen market is growing and not declining.</span></li> <li><span style="font-weight: 400;">Jason has spoken with other high-level entrepreneurs and they all say your choice of the market is key. Ask questions, do research, and analyze. </span></li> <li><span style="font-weight: 400;">There are five ways you can scale up or expand your market. </span></li> <li><span style="font-weight: 400;">One option is to upmarket by serving bigger players to increase your reach and