I’ve been talking with a lot of small business owners that feel like there’s so many people doing what their doing that they’re having a hard time even booking clients or making sales. But they love what they do and want to make it work. My answer? Narrow your niche (neeesh or nich). LOL
When your industry feels FLOODED with other people doing the exact same thing as you, it’s time to build a business that serves FEWER people. It sounds a bit crazy but it's an age old strategy. Building a business that markets to FEWER people can actually help you book MORE clients and customers because you become known for that ONE thing! For example, I have a graphic design company. Technically, we *could* advertise that we do design services that most other design firms offer such as: music album artwork, environmental experiences, designs for signage, logo and branding, web design, wedding invitations, print collateral, business cards, posters, graphics for clothing, magazine design, and the list goes on. But I chose to narrow our niche to only branding & web design. So, when someone needs a website they’re more likely to think of us because we specialize in exactly what their looking for. Does that make sense?
Benefits Of Narrowing Your Niche:
- You’ll be viewed as a specialist in a sector of your industry and therefore you’ll be the customer’s first choice.
- People have a reason to talk about you and tell their friends about you.
- People are willing to a pay higher price for a better targeted product.
- You’ll have a higher & faster conversion to sale, because you’re talking to people that are already interested.
So, normally the next question is…”well, how do I choose what to specialize in then?” Through my experience and research I have found that most entrepreneurs or small business owners take their expertise and pair it with their passion or hobby to create a unique niche. So for example, I LOOOOOVE helping businesses launch what they love and get off the ground, which is why I enjoy web design so much. Creating a unique online home on the web for my clients brings their business to life and finally makes their business feel REAL! and I LOVE THAT!!! So, I've been working on an experimental formula below that outlines the steps to take to create a niche. Try it out and let me know your results in the comments.
Simple Formula For How To Create A Niche:
STEP ONE: Define your expertise
STEP TWO: List your passions, your hobbies, your style
STEP THREE: List your favorite clientele to work with
STEP FOUR: Combine all of those things, then figure out if there would be a demand in that niche for your services. If that’s a yes, BAM, you’ve found your niche. Start catering to them
Examples Of Killer Companies Serving Unique Niches:
Style: Rock & Roll
Favorite Clientele: Wedding Couples
Niche: A Wedding Magazine featuring rock and roll couples with untraditional wedding ceremonies
Expertise: Cleaning Products
Passion: Chemical Free
Favorite Clientele: Families
Niche: Safe household cleaning products made without health compromising chemicals
Expertise: Textile Design
Favorite Clientele: Surfers
Niche: Art inspired beach towels made for all bodies of water
I need to test out the working formula that I've created (listed above). So will you try it and leave it in the comment section below with any other thoughts?? Thank you so much! Cheers to narrowing your niche.