Our Businesses Getting Results webinars resume in November. We are offering 3 free tele-classes that are open to the public on topics that will help you to build a better business!

Using Offers to Win Business
Thursday, November 30, 2006
1:00 PM Eastern (12:00 PM Central, 11:00 AM Mountain, 10:00 AM Pacific)

Working ON Rather than IN the Business
Thursday, December 13, 2006
1:00 PM Eastern (12:00 PM Central, 11:00 AM Mountain, 10:00 AM Pacific)

Key Performance Indicators - Tools for Successful Business Management
Thursday, January 11, 2006
1:00 PM Eastern (12:00 PM Central, 11:00 AM Mountain, 10:00 AM Pacific)

There are many definitions of a ‘niche’ market but essentially they’re a subset, a smaller segment, of your existing target market. This is very important because it means they may already be aware of you and are already prospects for your company’s offerings.

Members of your targeted niche will share a similar set of characteristics. You can capitalize on that by satisfying those common needs and catering to their particular interests. They can be extremely profitable customers if you provide them with just what they want.

It all begins with knowing the details of your wider audience. Who are they? What are their interests? What do they purchase? What do they read? What TV shows do they watch? Your niches are the separate subsets of this total market – these can be broken down by such demographic factors as age, geographic location and income as well as by more subjective categories such as personal taste and preference in entertainment.

Just identifying a niche segment isn’t sufficient to guarantee marketing success. It must enable you to achieve enough sales and profitability to make it worth your while setting up a specific campaign. Some of the basic requirements of a good niche group to target are:

• It can be measured quantitatively
• It is large enough to generate a profitable sales volume
• It is accessible to your company's distribution channels
• It will respond to an affordable marketing spend
• Repurchase intentions can be forecast

As an example, assume your company manufactures sporting equipment. A typical niche within your larger audience would be males 18-25 who play a competitive sport on weekends. Once you’ve identified the niche and which of your products to sell into it (deodorants and products for the treatment of sore muscles are two product categories that would sell well to this niche), find suitable channels of communication to get your product in front of them. You could market yourself at their sporting fields through sponsorships or advertising in event programs for instance.

Here are three ways to capitalize on the opportunities that niche markets represent:

1. Provide something that meets their specific needs

Members of niche markets see themselves as being relatively unique. The benefits you promise them from whatever you’re selling must have some sort of special appeal to them. Most niches respond to offers of something that’s new or really exciting. You might need to bring in a new product or service, or modify an existing one to cater to them.

2. Communicate in their language

Every niche has its own language whether its computer jargon with IT enthusiasts or the latest ‘in’ phrase among the teenage market; you need to learn it so they’ll understand you when you’re talking to them. Communicate with them from the position of someone who knows them and understands their particular needs. Communication extends to the visuals you use in your advertising as well – match the images in promotional materials to reflect the appropriate age group, clothing styles and so forth of your niche market group.

3. Investigate and test before committing

Niches are really a new market area that you need to understand before charging into. See what your competitors are doing in their marketing but try to find a unique point of differentiation that will enable you to stand out from the others selling to this group.

Then, before making a large financial commitment for stock or advertising, use focus groups or group discussions to give the products and materials a test drive so as to gauge what the likely wider market response will be.

Information in this article sourced from Ran One.

By Teri Milligan, QuickBooks Consulting and Implementation and Jim Muglia, Computer Consulting and Maintenance

Internet Explorer 7 has just been released by Microsoft. Unlike previous versions, Microsoft will release this update through their automated update system as a critical update.

Although this should not affect the general use of your computer, there will be some differences, including how you interface with Internet Explorer. Another major difference will be the interaction of Internet Explorer 7 and QuickBooks Accounting Software.

If you are using QuickBooks 2006, Version 8 or below, Intuit was recommending that you do not update to Internet Explorer 7 as the two software applications were not compatible. However, Intuit now has a patch that you can retrieve from the link below in order to make QB 2006, Version 8 or below compatible with IE7.

Or, you can choose to “decline” the automatic update of Internet Explorer 7, by declining the licensing agreement. You know, the part where everyone just clicks “Accept”?

The take away here is that the installation of Internet Explorer 7 may affect the operation of any software application that accesses the internet as a component of how the software functions. Please consult your software vendors and/or your computer consultant to determine the compatibility of IE7 and your software applications before accepting the update of IE from Microsoft.

For further information, contact Jim Muglia or Teri Milligan.
You can also refer to the Microsoft Technet website

By Christopher W. Olmsted, Attorney

In the fiscal year 2004-2005, 1,423,097 civil lawsuits were filed in California. Given those statistics, odds are that many businesses will end up in court sooner or later. For those of you who have not had this misfortune, here are six crucial basics you should know about what to do—and not do—within the first thirty days of being sued.

First, gracefully accept the packet of papers (called a “summons and complaint”) from the process server. Although the natural tendency is to try to avoid the process server, such sneaky tactics inevitably lead to greater headaches later on.

Second, you ought to notify your legal counsel immediately upon receipt of the lawsuit. You only have a short period of time—thirty days—in which to file responsive papers with the court. Failure to respond within the time limit can result in the court entering a default, and eventually, a judgment, against you. Moreover, an early consultation will give your attorney sufficient time to evaluate whether a demurrer—i.e. a motion to dismiss the lawsuit—should be filed. There may not be time to prepare such a motion if you don’t get around to notifying counsel until weeks after you first receive the lawsuit.

A natural tendency is to hold off notifying counsel as long as possible in the hope of avoiding legal fees. Often this turns out to be like avoiding going to the doctor until you get really sick. Early treatment is better. Likewise, competent counsel can cooperate in minimizing fees, while at the same time providing technical advice that can go a long way in cutting the case short—by far the best way to curtail fees.

Third, review your insurance policies for potential coverage for the claim. Don’t conclude the claim is not covered until you and your counsel have carefully reviewed the policy language. If the claim is potentially covered, it is important to notify the insurance company immediately. Insurance companies will often refuse to pay litigation fees and costs incurred before notice of suit is given.

Fourth, be prepared to take immediate steps to investigate the claims raised in the lawsuit and to secure evidence that will support your defense. Primarily, this relates to documents and witnesses. Oftentimes, this is simply a matter of gathering all relevant documents—contracts, invoices, letters, emails, etc. Do not, under any circumstances, destroy or alter documents. Invariably, such conduct is discovered and then viewed in court as the equivalent of guilt, even where the documents in question were marginally relevant. It is equally important to identify all witnesses to the matters raised in the lawsuit. Conducting early interviews, and perhaps obtaining written statements, will avoid the problems of fading memories or missing witnesses. Witness tampering in any form should of course be avoided. Many a defense has met disaster over trivial discrepancies in witness testimony that arose simply because the defendant thought he could be clever by “improving” his story.

Fifth, work with your attorney early on to evaluate your potential liability and formulate a litigation strategy that fits the nature of the case. Is the lawsuit frivolous or are you facing potential liability? Is the dollar amount at stake large or small? Is the evidence at hand helpful or harmful? Come up with a plan that fits the nature of the case. You won’t want to plan a vicious legal battle where the amount at stake is small. You won’t want to take a casual approach where a significant percentage of your company’s assets are at stake. Early evaluation and planning will assure that the most effective approach is used.

Finally, and perhaps most importantly, consider early resolution of the case. Often times, settlement within the first thirty days of a lawsuit is not possible due to time constraints, the amount at stake, or lack of information. Nevertheless, early exploration of settlement opportunities is the best way to control the outcome of the case and minimize legal costs.

Christopher Olmsted is a member of the law firm Barker Koumas & Olmsted, practicing in the areas of employment law and business litigation. He can be reached at (619) 682-4040 or Email

The article presented herein is intended as a brief overview of the law and is not intended to substitute as legal advice. Any questions or concerns regarding any statute or case law should be addressed to a licensed attorney.