Try Scott Mooney's idea and that is to go after a market segment that is over looked or under served.
The low profile part of an industry may be the best part. Horses. Not only beautiful, sometimes temperamental and even magical. We see thoroughbreds racing at places like the Kentucky Derby or Belmont. In this episode of the show we open at the Del Mar Fairgrounds where you saw Funny Cide, Seabiscuit and even Bing Crosby, the singer, for fleeting seconds. It is a glamorous world just made for television. But the bigger part of this industry is the horse next door.
Q: Why do we find Scott focused on this "homely" segment of the industry?
A: The segment is huge! Scott's core customers are horse lovers. They own 1-4 horses and keep them in their yards. They ride western for pleasure. There are millions more horse lovers than people involved in racing. We have noticed that "sexy businesses" do not make as much money as the dull, boring ones. We're not saying that horse lovers are boring, but we are saying they are not the high profile owners of million-dollar thoroughbreds.
The other reason Scott went after horse owners who keep their horse in their back yard is that he is part of this segment. He didn't want to leave his home town to grow his business so he developed his mailing list to reach customers by mail.
Q: What are the advantages of staying in one town all of your life?
A: Relationships, relationships, relationships. Success is never about physical location; it is always about people and ideas.
Continuity is the other huge advantage. Some achieve continuity by staying in one industry for decades but move around physically. This is another type called "bloom where you are planted."
Since the Pilgrims landed at Plymouth Rock, Americans have been migrating to what they thought might be more fertile soil. But for Scott Mooney, there was never greener grass than what he found in his home town of Ottumwa, Iowa.