Enjoy today’s Guest Blog by Andrew Lisa:
Finding a Niche Target Consumer in Your Industry
There is an old cliche in business that says if it’s worth doing, it’s already been done. Although this may be true, it is also undeniable that clever, adaptive entrepreneurs will always find a way to expose and fulfill the needs of niche targets that had previously been hidden in larger industries. Find the subset within the subset, and once this new niche is exposed, make yourself the most attractive player in its narrow field.
No matter what your niche, do one thing and do it well.
Always Exploit an Opening
For example, realizing that shipping is a competitive and fickle industry, David Kiger of Dallas fashioned his shipping business to cater to smaller businesses. Previously, this had been a customer base that was grossly under-served. Seeing an opening for a neglected target demographic, Kiger’s focus on small businesses allowed him to fill a void without coming up with an obvious sales technique. Always look for an under-served niche clientele and look for an opening to exploit.
It Goes Both Ways
Just as it is imperative for an entrepreneur – specifically a startup business owner – to attract the right job or clientele, the job hunter also has a responsibility to target a specific, niche employer. This is a perfect opportunity to harness the power of social media. Whether it’s through hashtag searches on Twitter or through targeted ads on Facebook, social media excels at allowing job hunters to filter – and micro-filter – employers down to their most specific peculiarity.
Become a Specialist
Legendary martial artist and movie star Bruce Lee once said, “I do not fear the man who practices 10,000 kicks. I fear the man who practices one kick 10,000 times.” Large corporate behemoths have the luxury of doing several things well at the same time. For startups or even established smaller businesses, it is prudent to focus on being great at one thing – serving one niche – as opposed to trying to be a jack of all trades. Apple now has the infrastructure and sales techniques to sell everything from iPhones to bumper stickers to bobbleheads. But when the company was first starting out, Steve Jobs made one thing – personal computers for the tiniest niche market.
Narrow down your niche target and focus on the areas in which you excel.
For the savvy small business owner, targeting the smallest niche market in the industry can mean the difference between success and failure. Exploit openings, realize what you’re good at, and never try to be good at everything. Once you become a master at one trade, you can expand into other areas. But in the meantime, do one thing and do it well.
Andrew Lisa is a freelance writer living in Los Angeles. He writes about Internet startups and small business management.
