How do I determine my target market and competition?

To determine your target market and competition, you can follow these steps:

1. Identify your product or service: You need to clearly identify what you are offering to your customers.

2. Define your ideal customer: Create a profile of your ideal customer based on demographics such as age, gender, income, location, education, and lifestyle.

3. Conduct market research: Use online resources, such as social media platforms, online forums, and surveys, to gather information about your target market. Also, study your competitors and their products/services.

4. Analyze your competition: Identify your direct and indirect competitors, study their strengths and weaknesses, and determine what sets your business apart from them.

5. Determine your unique selling proposition (USP): Determine what unique value your business can offer to customers that your competitors cannot.

6. Develop a marketing strategy: Based on your research and analysis, develop a marketing strategy that targets your ideal customer and sets your business apart from your competitors.

By following these steps, you can determine your target market and competition, and create a business plan that effectively meets the needs of your customers and sets your business apart from your competitors.