The document outlines 4 signs that a business may be targeting the wrong customers: 1) Not knowing what customers want as their needs can change over time. 2) Not proactively choosing target customers and instead hoping they will choose your business. 3) Having a target market that is too broad and does not focus on a niche. 4) Facing many direct competitors in an overcrowded market. It provides examples like Blackberry not keeping up with changing demands, Chipotle choosing price-insensitive customers, and Nintendo targeting families over hardcore gamers.