I’m sure you’ve heard it before – the arguments for defining a narrow niche for your business. And yet, you don’t quite believe it. It seems to go against common sense. Why narrow your potential market? Don’t you want to attract as many customers as possible?
There are so many good reasons why small businesses should focus their offering on a clearly defined niche. One of the most compelling is that niche strategy not only helps you attract more clients like a magnet, but it does so more profitably, boosting your profits and putting more dollars in your pocket!
You have heard the rallying cry before: find your market niche, create a unique offering, target your efforts to grow your business. As a matter of fact, you’ve heard it from me! This is a proven strategy for extraordinary business growth, but is it enough?
We have talked about the benefits of creating a niche for yourself in previous blog posts (3 Powerful Reasons to Get Over Your Niche Phobia). Many small business owners are open to it in theory, but resistent to it in practice. At Provendus Group we believe to our bones that niche marketing is the path to delivering a superior product or service to your market and greater profitability for you.
If you’re like most business owners, you want your company to stand out from the crowd, to be innovative, and to have a clear market position.
What you are about to read is probably not news to you. You’ve heard it from others, and we’ve talked about it in this blog before – small businesses become more competitive when they market to a narrow niche.
Most business coaches and consultants serve a variety of clients. They pride themselves on having varied experience. They love to help people, and they figure the more different types of businesses they work with, the more opportunities they have to make a difference. The problem with this approach is that they look just like everyone else. If you want to stand out from the crowd, you must become an expert in a niche.