Life and business are both better when you choose a niche, and go after it. Choosing a niche is all about using your expertise and knowledge to fill a need. In the era of Web 2.0, targeting and delivering services is easier than ever, but before you start selling, you have to choose a niche. If you’re wondering why you shouldn’t try to market to as broad an audience as possible, you’re in luck! Today we’re exploring why choosing the right niche will increase your success.
You can’t be everything to everyone
As a self-starting entrepreneur, you can’t attack ten different niches at once. You simply don’t have the time or resources. Your best bet is to use my “Inch Wide, Mile Deep” philosophy: tackle a niche that is an “inch wide” and a “mile deep.” Identify a target market experiencing a serious service gap that you can focus on exclusively. You can’t be everything to everyone, but you can be king to a few.
No niche = no customers
If you try to launch without targeting a specific niche, inevitably your business will have no focus, customers will struggle to understand your services, and you won’t make money. The act of choosing a niche means targeting customers that want and need what you’re selling. On the other hand, not choosing a niche is literally like going into business for no reason. You won’t know exactly who you’re selling to, and your marketing will ineffective.
Targeted marketing yields better customers
The more targeted your marketing is, the quicker you’ll reach customers who want to buy your product. Choosing a niche means you have access to motivated customers who are interested in your product. Niche customers are the best customers. They need what you have, are eager for your product and are willing to buy.
The modern business environment revolves around niche markets. The “Inch Wide, Mile Deep” philosophy is a great equalizer allowing entrepreneurs to jump in and successfully dominate a market as if they were a larger company. People are willing to pay money for what they need, and in this case, that’s you! Choose your niche, find your audience and increase your success.