Riches in the Niches

One of the most difficult things for business owners to do is identify and own their chosen niche.

While it can be pretty daunting to say we will offer this discreet service to that sector of the market, it is the best and easiest way to understand who you need to be talking to, nail your message and deliver the lozenge to solve the pain points of your intended customers.

Understandably, small businesses find this particularly tricky at the start, after all, they need sales, and usually quickly. They see opportunities drifting past them that they know they could do........but is it their core service? Does it align with their values, vision and mission? Is it something they're an expert in?

While I am the first to say step outside your comfort zone and learn new things, that's not really sustainable in business if it applies to a high percentage of your enquiries for work.

Although some may say your niche will find you, this is a risky strategy and would leave me unsettled without a detailed sales and marketing plan.

Some business and market research is the best place to start:

📍Firstly, you have to understand the demand for your service. Just because your mam and the hairdresser thinks it's a good idea, they're unlikely to be your intended customers.

📍How big is this niche and what % of the sector could you reasonably exploit? Are you willing to travel? Can you work remotely? As we are all globally connected 24/7, you will quickly realise your market isn't just businesses within a 100 mile radius or even the same country.

However specific your niches, once you factor in its global footprint you will see the world is your very own oyster.