Finding a niche is important for business owners who want to not only create a steady stream of revenue, but also establish a loyal audience.
A few pointers:
- Select your target audience.
- Define an unmet or underserved need.
- Research your customer base.
- Create your business plan.
- Market your business to your specific audience.
Own your niche. One size definitely does not fit all and try to stop being everything to everyone.
The key to competing and surviving is to focus your business into a pocket where you can leverage your strengths in the local marketplace. There are some inspirational businesses out there.
Which ones are your favourite?
If you believe you’ve found a business idea you can invest yourself into, take the plunge. The learning and growth that comes from doing will be far greater than the rewards of just planning.
So go and grab yourself a pen and paper, and start scribbling down your favourite hobbies and interests. Good luck!
