“You gotta get a niche” is heard over and over and what I’ve seen is just finding the right micro market can be hard. Realize that most of us have some selected information or knowledge we can share. Using the word NICHE, this is a simple way to start thinking as discussed in Susan Friedmann’s Riches in Niches: How to make It Big in a Small Market.
- Needs: Identify the needs of your industry or profession.
- Identify Trends: Discern whether this is a lasting trend that’s likely to impact the industry.
- Challenges: Ask probing questions about challenges that affect your target market.
- Help: If you can, respond to an industry challenge with a viable solution.
- Explore Groups: Look at all the suppliers to the industry.
Places to look beyond asking questions could include reading Yelp! reviews about your competitors, or knowing where your customers find the information they need. If you are a garden center, being the best place to get native plants could be your niche to maximize; a bookkeeper may become an expert in church bookkeeping; a small retail operation my have a product that is excellent as an online sales option.
Spend some time this week looking at your broader market and see what niche or micro niche you may be missing. The key to a strong niche is lots of customers that are looking for your help.