In Show 143 – 5 Reasons to Find Your Business Niche originally broadcast on Facebook Live on Monday 29 October 2018 we explore this interesting topic.
It’s incredible how many people start a business without really thinking about what they’re doing. Finding your niche is absolutely critical. But too often people start a company with a “if you build it they will come” mentality. They absolutely will not come if you haven’t targeted yourself correctly. Here are the top 5 reasons to find your niche
1. If you don’t you will pay
If you don’t find the right market for your business it’s going to drain your ability to create. If you are in the right groove it’s going to fuel your creativity
2. Lack of enthusiasm
When a business isn’t going well it’s difficult to be enthusiastic. That lack of enthusiasm shows and it will affect everyone around you – especially clients and employees.
3. You have to stand-out
If you’ve structured your business around a niche that is overused it’s going to be difficult to stand-out.
4. Some niches are expensive
Don’t pick a market that is too expensive to compete in. Just because it’s the most expensive doesn’t make it the best.
5. Real passion
If you have a niche that you know and love you’re going to be passionate about it and that is going to show.
#marketing #marketniche #smallbusiness #entrepreneur
More about this Show
We started Business Legal Lifecycle to create a simple way for you to understand complex legal terms. Most importantly we want to help you to develop a plan to take your business successfully into the future. There’s a startling statistic the underscores the importance of developing a solid plan. The majority of business owners are just seven months away from losing everything. A single aspect of your business that is not set-up correctly can shut down your whole operation very quickly. Legal advice is not cheap and even when you can afford it there is often a divide between lawyers and their clients. We want to close that gap once and for all. We want to put legal knowledge and tools into your hand to prevent the worst from happening to you.
Twice a week we are going to deliver those tools right to your home or office with Business Legal Lifecycle TV. We’ll start the week with Fast Fix Monday, a short 5-10 minute video that will tackle a single issue that businesses have to deal with. Then on Wednesday’s our main show will feature with more fulsome discussions and interviews all delivered in a straightforward and easy to understand format.