How would you determine which markets to target short versus long term?

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1. Analyze your competition: Find out about the successes and failures of competitors in various markets as well as current strategies. You will be able to determine which markets are more profitable or less for your business in the near-term and long-term.

2. Identify customer needs: Consider what your customers’ needs are, and where they are likely to purchase from based on those needs. These needs can be identified in both the present and future. This will allow you to prioritize your markets when you target them for short-term or longer-term opportunities.

3. Follow trends: Track indicators, such as inflation and changes to monetary policies, in order to spot potential opportunities. This will help you determine if it’s more suitable for a short-term gain or a long-term strategy depending on its potential growth trajectory over time.

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