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Market Watch

Do you know who your customers are?

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This story appears in the April 1998 issue of Entrepreneur. Subscribe »

You've decided to start your own business, but what are you going to do for customers that's better or different than what your competitors are doing? Marketing consultant Rob Fey, author of The 200 Minute Marketing System (Fey Marketing Inc.), offers the following step-by-step process for answering this important question.

1. Define your core competency. Make the most of what you do best in your business strategy. Fey advises new entrepreneurs to use what he calls the "law of focus." "Instead of being everything to everyone, be significant to a very specific audience," Fey says. Once you determine your strengths, focus on two or three products or services that represent what you do best.

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