Tom Pryor - UTA s Small Business Development Center & Che Hill - Deaf Entrepreneurs of America Foundation

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1 Tom Pryor - UTA s Small Business Development Center & Che Hill - Deaf Entrepreneurs of America Foundation

2 We can t please everyone, in fact, we re not even going to try. Seth Godin If you re not unique, you d better be cheap.

3 Does everyone have a copy of the Niche Mining Journal?

4 A niche is a business opportunity created by a vacancy in the marketplace. Niche does NOT mean little!

5 There are 3 methods to define your niche. Niche #1: A new position for an existing product or service.

6 There is a wine for Lawyers and a Lawyer for wines.

7 Fort-Worth Star Telegram May 1, 2011 They are turning $50K of their own money into $7 million sales at JCPenney & Hallmark. Christi Sterling & JoAnn Brewer s niche is middle school girls.

8 An example of how to grow profitably by exclusion. Owned by Dr. Deb Rose, Ph.D.

9 This man and his Ferrari are a lifestyle niche. 5,000 subscribers X $130 per year =$650K

10 Reducing obesity is rapidly becoming a big thing!

11 Apply Pareto s Law to your existing business to identify a niche 1. Do 20% of your customers = 80% of your sales? 2. Do 20% of your products = 80% of your sales? 3. Do 20% of your activities = 80% of your sales?

12 Niche #1: A new position for an existing product or service. Niche #2: A new solution to an existing product or service.

13 Honor your customers and suppliers by asking.. What do you see as the next big thing in our industry?

14 Honor your customers and suppliers by asking.. What don t you like about doing business with us?

Niches typically begin at the third level. 1. 2. 3.

15 Niches typically begin at the third level Category Type Niche Accountant Tax Acct. Sales Tax

16 Casey Cunningham created a niche by transforming a common task to Green. Texas Organic Lawn Care LLC is successfully using Green to be unique!

17 TECH Fort Worth Impact Award finalist. Apps for children who can t speak but need to communicate.

18 CD Baby is the largest online distributor of independent (Indie) music. Indie music is a niche. Have the confidence to know when your target 1% hears you excluding the other 99%, the people in that 1% will come to you because you ve shown how much you value them. Derek Sivers Founder of CDBaby.com

19 Use to get niche ideas

20 Niche #3: A void left by big players in a market. Niche #1: A new position for an existing product or service. Niche #2: A new solution to an existing product or service.

21 33% of Top 10 Thriving Industries are Green Wall Street Journal May 16, 2011

23 House Cleaning niche

24 Replace IT with your own profession.

25 Green travel is a big and growing niche.

26 DEAF FRIENDLY MARKETING Presenter: Ché Hill

27 Company Overview Deaf Entrepreneurs of America Foundation (D.E.A.F) is a business training and development company specializing in teaching Deaf and hard of hearing entrepreneurs how to start and succeed in developing profitable small businesses in full ASL. D.E.A.F. also provides training and marketing to businesses that want to market to the deaf community.

28 Deaf Facts 3.8 mm in TX / est. 700,000 in DFW American Sign Language (ASL) is the 3 rd most used language in the U.S. Most don t read lips; many have challenges with reading (i.e. catch phrases, popular slang) Notable differences between being Deaf and hearing impaired DOL est. $100bb annually in disposable income They buy everything!!!!

29 Businesses targeting the D/HOH market

30 Why Market to D/HOH? Est. Annual disposable income is in excess of $1 billion Est. 700,000 in DFW metroplex Underserved market Loyal customer base They buy everything (tech, food, entertainment) Opportunity to support your community Compliance with the American Disabilities Act (ADA) In need of business resources and services (i.e. insurance, accounting, marketing, printing etc)

31 Is your business Deaf Friendly? Does your team know basic ASL, or have tech in place to communicate with Deaf Patrons? Is your staff trained on how to recognize Deaf patrons, and on how to provide them with quality service? Is there a buzz about your business in the Deaf community? Do you have information posted about requesting an interpreter if needed or other communication resources? If you answered no then your business isn t Deaf Friendly and you could be at risk for ADA penalties

32 How D.E.A.F can help Develop marketing campaigns that are Deaf Friendly to compliment your current branding strategies and increase your customer base Train your team on Deaf etiquette, culture, and basic ASL to better serve Deaf patrons and gain repeat business Assist your business to gain a competitive edge by reaching this niche audience Increase your market share by reaching prospects that already buy what you re selling Assist your business to become ADA compliant limiting potential liabilities

33 Why partner with D.E.A.F? We have over a decade of small business development training specializing in highly effective advertising and marketing We have a client base of D/HOH entrepreneurs that need your services! They need to work with businesses that can communicate with them We re fluent in ASL and are actively involved with D/HOH community. We understand the nuances and culture. We have an official partnership with the North Texas Small Business Development Centers to provide business development training to D/HOH in full ASL

34 Office (214)

35 Without a niche, business owners can feel like they are working hard rowing a boat. When you find a niche, unfullfilled needs become the wind that fill the sails and $ales.

36 If you have any follow-up questions, need a sounding board for an idea or a list of books to expand your knowledge on niches,green or deaf marketing, TPryor@uta.edu or Che@DeafEntrepreneursUSA.com

37 Success is NOT logical. Being well-rounded is logical but not successful.

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