Finding your Business Niche or slice of the market is often something people struggle with but the truth is its really easy in just three simple steps.
Finding Your Business Niche
First we’re going to define exactly what a Niche is and why it’s important next we’ll explore an example together showing how powerful choosing a Niche can be thirdly we’re going to show you step by step how to analyze your market and spot a Niche that you can take advantage of and we’ll do all this in just a few minutes in that case we better get started so a Niche is a very specific segment of a market.
For example a market could be people who like animal toys then the Niche within that market would be people who really like owls another example could be golfing equipment then leash within that market could be equipment for shorter people who are left-handed so to put it simply a Niche is a small portion of a larger market with a very particular set of interests or needs Niches are important for two reasons the
First is customers with unconventional likes and needs can find products and services that suit them perfectly and as business owners it allows you to find groups of people that need something very specific things so specific there is often very little competition therefore making it easier for you to be successful and profitable as an example let’s look at one of the most competitive markets on earth the fitness industry there are millions of personal trainers and fitness brands out there but that didn’t stop. How to starting ecommerce business from scratch and Continue
Steve from nerd Fitness making a seven-figure business online the brand sells online courses to people who identify as nerds and introverts people who were too self-conscious to go to the gym Steve stated as a nerd himself that he felt that there weren’t any great solutions out there this example clearly shows that a gap in the market doesn’t have to be large and evident it also shows that you can build a business in a supposedly saturated market by adding a simple twist and will explain how you can do this right about now so now we know what a Niche is and we’ve seen an example of a successful Niche business it’s time to help you find yours and we’ll do this in two simple steps the first step is easy and the
Second Step Product or Industry
second step is even easier so let’s do this together one step at a time to begin we simply need to select a product or industry that you know or understand well something that you are passionate about and best of all it doesn’t matter if the market is saturated choosing a product industry or something you’re passionate about could be anything from designing socks to website design in fact let’s take the website design idea a little further it’s fair to say that there are thousands of web designers out there so instead of doing what the majority do and try to appeal to everyone.
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Third Step Being a Specialist
We know that it’s far more effective to be an expert at one particular thing for example this could mean perhaps being a specialist in building websites for driving instructors dentists or small startups look at what we just did in the last few seconds weaved in a website designer from simply being just another of hundreds of other website designers in the local area to being a specialist and a go-to for dentists looking for a great website if you were a dentist and you needed a website who would you choose a website design agency or a specialist in dental website creation this is really powerful stuff would it be fair to say but the online course that node fitness sold were likely to be very similar or even identical every other fitness plan available we dog you pretty much yes but where other fitness companies were trying to sell to you anyone that simply wanted to get fit nerd Fitness was speaking directly to a very specific type of person with a very specific idea of the world creating a Niche in your market is really as simple as that if you found this Article valuable please support by tapping your friends sharing it online doing a backflip.