Creating the perfect niche can be very daunting for many business owners. Especially if you are in a highly competitive market. Most business owners don’t like to niche as they feel they will close off a huge part of the total market for their business. They fall into the trap of being a small fish in a big pond.
When you niche, you can achieve so much more. The benefits are:
- You become the expert, the go to person
- It becomes easier for others to refer business to you
- You may be featured or asked to comment in editorials for magazines, newspapers, tv or online publications
- You can choose the type of clients you want to work
- You get to charge more than a generalist
- You will save in marketing in both time and cost as you understand your markets pains – so time and money spent on activities that are not working
The 3Ms in to Niche
So, how do you niche? There are 3 key areas to help you find the right niche. It is our 3M framework.
Use this frame work to help you find the perfect niche. Remember that you can move your niche if you feel it is not working. Test it for short time and measure your results.