Having a startup is a never-ending story of new challenges every single day. Not very experienced startupers do their best to survive on the market but many of them will disappear anyway because they make very common mistake. And that is trying to satisfy everyone. Every industry. Every company. Every single person that notices them. And they don’t realize that the more focused the targeted market and the offer are the better odds they have to survive.
To put it briefly – it is much more beneficial to specialize in one chosen field that to be an expert of everything. Because experts of everything are actually experts of nothing. If you want to eat a foodpornlike juicy double burger with extra bacon you won’t go to a fast food restaurant that has pizzas, hot-dogs and also hamburgers. You’d rather go to that famous hamburger joint everyone recommends. What is more, finding the niche helps you come up with a name and get going in the chosen industry.
3 reasons why it is important to find the niche for your business
Just to have it clear let me point out why it is crucial to find the niche for your business if you still think it’s not the most important thing to do:
- Narrowing product and services – if you choose the niche for your business it is easier to identify the needs of your targeted customers and adjust your products or services to make them impeccable. For example – if you choose the niche of vegan fitness freaks you will focus on delivering them plant-based protein-rich or healthy food. You won’t have to add not vegan or not fit options as they wouldn’t buy them anyway.
- Better targeting marketing strategies – the more defined your niche the easier it gets to create an effective marketing campaign. You can easily identify which channel is more suitable for your targeted niche and which one would work the best. Remember that the key here is to measure the campaign success and you can easily do it with UTM. You can check how to use it here https://landingi.com/blog/utm-basics-and-how-to-make-the-most-of-it-in-7-easy-steps.
- Becoming an expert – as mentioned before choosing one niche and focusing on it makes people perceive you as an expert in the field. If they see you like that they are more prone to buy from you than somebody else.
Steps in finding the perfect niche
Many businessmen struggle to find the perfect niche but the best way to do it is just to think of it as a structured process. The first thing to do is just to choose the industry you want to operate in and then find the niche in that industry that would be the best for you. The niche can be related to geographic location, product, specific group or hobby.
When looking for the niche just remember to get to know the industry beforehand. You need to soak yourself in it, get to know all its features and little missing gaps that should be filled in. Get as much information about the industry as possible and don’t just jump into the first niche you find. Wait a moment and try to look for other ones. Don’t be impulsive and reckless but reconsider your idea and only when you are sure jump into the one you have chosen.
If you need inspiration for that you can easily find a lot of niche business ideas online as a lot of articles and advices have been written about that. It is completely normal that choosing your niche is arduous because that decision is crucial for your business. Proper research and comprehension of the market are the key to success. And even when you choose the perfect one and you start working with clients you will see some nuances you haven’t seen before and adjust your strategy properly. In business you have to be flexible and ready for changes. And the same is with the niche. Even the perfect one 😉
