QUICK MARKETING TIP
I’m going to give you a quick Marketing Tip…
If you want to grow your business; want your business relevant during tough times; or want to have a big impact then you want to serve the right people – create a niche. One of the first discussions I have with my clients is the importance of creating a niche. So many businesses simply brush over this concept. If you look at all the great businesses/entrepreneurs, they are focused on a niche. The trouble is that most people don’t know where to start or how to niche their business.
But here is the problem
Just because you can, does not mean you should… Many businesses try to go into areas that they really don’t specialise in. Whenever I see this, there are some common problems:
Businesses spend a lot of time on things they don’t do well, so they spend time trying to perfect this. Sometimes it is better to outsource or have a joint venture with a company that specializes in
Too much money is spent on equipment or the cost to get results
Customer expectations and experience is not delivered – over promised and under delivered.
If you have staff that look after this area, then you could be faced with employee issues such as hiring, keeping them and what happens if they are sick or need a holiday.
This story is a Cracker
In Barcelona, there is a lady that specialises in selling ‘eggs’…
That is right.
Just Eggs… a variety of different eggs are served ranging from chicken, quail, duck, etc… They come in all different sizes.
She is the true entrepreneur because the queue to purchase eggs from her is at least five people deep every time you go past.
WHEN YOU NICHE
Amazing things happen when you niche
You get know for speciality
You become a person in demand
You can set your prices
And when the market has issues, you become the go to person
One of my clients, John helps organisations implement Quality systems (ISO9001). He has been doing it for a while and right now, is super busy as he is referred or found online. He attracts high end clients and has over 20 consultants working for him. He only does 1 thing – 1 qualification and nothing else.
Times are tough
When we are dealing with these tough times, you should consider a niche. I will share in my next post how to niche but here is some homework.
What do you want to be known for?
Why is it important to you?
Can you help the market get the result they want?
Having trouble finding a niche, then reach out to me. We commonly find niches in areas that you have not considered.