Defining your niche, now what does that mean? The word itself sounds as if it’s from a different language.
Dictionary.com describes “niche” as a distinct segment of a market. And that is all it is: your brand’s defined and unique standing within it’s market.
Though I won’t be expanding on my process of discovering my businesses niches within this post, that post will be something that is coming soon. Be sure to stay updated on this platform in order to not miss that post!
Defining your Niche is an ACTIVE Process
Entrepeneur.com states “good niches don’t just fall into your lap, they need to be carefully crafted.” Finding a company’s niche or even your own brand’s niche is an active process. You can’t expect your niche to pop out of nowhere and be perfectly catered to distinguish your brand. If it was that easy, everyone would be able to have extremely successful companies, right?
Well, I’m gonna help you get there, guys. Here are three simple steps to take to find your nice
Step One: Identify your Interests or Passions
Why would you be wanting to do anything other than something you’re passionate about? That’s boring!
Working within a field that you enjoy and are passionate about will likely result in you having the drive to work within your business rather than quit and leave it to the wayside.
A couple of easy ways to break down your interests and passions are to:
- Look Towards Your Hobbies – What do you like doing in your free time? What sort of content do you find yourself researching into the wee hours of the morning?
- Write a List of These Hobbies – This is especially helpful if you are more of a tactile/visual person.
This article by Forbes has a list of questions you can ask yourself to find your true passion. Take a look!
Step Two: Identify Problems Within Your Passion That You Can Solve
You’d be surprised what problems you can solve not only within the world, but within different businesses. Do you love shoes but feel like people aren’t offered the most stylish shoes. Do you think you could do better? Make some new, stylish shoes!
Be the Superhero of your field of business that the market is looking for and solve those problems!
Step Three: Research Your Competition
Now, this step might sound a tad creepy, but we all have to admit we’ve done it. I am guilty, you are guilty, we are all guilty – and it’s okay! It’s all in the name of research and it’s, frankly, imperative to do.
There’s drama around competition in business, but the competition it not a bad thing. Having a separate niche from your competition helps make those competing businesses not as intimidating because you know you stand out from them. A good way of keeping track of, and understanding your competition, is to keep an organized list of your local and national competition.
Defining your competition is an extensive process. This article explains walking through that process a bit more in detail, if that’s what you’re looking for specifically.
See, it’s not that tricky!
Breaking down your brand’s niche can seem like a daunting task. But, when the process is separated into simple and easy tasks, it’s not as intimidating.
If you’re still needing some help, be sure to check out my blog post walking through my process of discovering my businesses niches next week!