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Hi, howdy, hey! It's mid-week and I'm back to share some small business pointers. Have you ever thought that your product or service is so unique or so focused you feel you may have a hard time finding success? Well, today I want to share how your niche business can work for you.
Less competition
There's nothing wrong with a little friendly competition. On the other hand, small businesses already have plenty of hurdles to overcome so let's be real. With less competition, there's more potential. With a specific business, you're less likely to run into similar competitive brands. Less clash means you'll be able to optimize sales and build a loyal customer base.
Find your focus
A niche business offering very specific products or services allows you to find your passion. Making a career out of something you're passionate about means you'll never have to work a day in your life! This point brings to mind a local artist. She makes incredible pottery of all shapes and sizes and sales her pieces by the truck-load, therefore turning a hobby into a profession. Find what you're good at and make it work for you!
Leadership
Developing and growing a successful niche company allows you to establish leadership. Leadership in your specialized area institutes trust and expertise among both returning and potential customers. Take a moment to think about some of your own favorite brands. What are they really good at? Were they one of the first brands to develop their product or service? Does their reputation make you a returning customer?
How have you found success in an area focused business? What tips would you share with folks who may have a specific idea but are reluctant to get started? Please let us know!
