The document provides steps for defining a target market, beginning with accepting that the target market is smaller than initially thought. It recommends limiting the target market based on demographics, psychographics, geography, and behavior. It also suggests determining how many customers are needed based on sales cycles and calculating the number of leads and contacts required per week. The document advises selecting a target market that has the greatest need for the product or service without price being a barrier. It also recommends segmenting the market as much as possible to understand customer buying patterns and commonalities. Finally, it suggests testing assumptions about the target market before fully launching marketing efforts.