We all want to think BIG, and that’s great! If you did not think big then you wouldn’t be the entrepreneur you are today, but as far as creating a niche it’s important to have a focus.
Ideally, we would love the world to love our product or service, but for your business to grow, a target is needed. Think about all the different attire you see when you are in a public setting, would you see yourself purchasing everything everyone else is wearing? Probably not. Now why did those customers choose those products and you didn’t? Those companies had a focus and and got the job done. Now, it’s your time to do the same. Here are 4 tips on finding your niche.
Step one: Define your why.
Do you love what you are doing? Boy, I sure hope so! Having a passion for your business is a big start of finding you niche, so fingers crossed you have that tackled. In order for your passion to help locate your niche, think deeply, why do you love your product or service? What about the product or service is different than your competition? What demand are you fulfilling? It’s important to think about each question separately to make the most out of a conclusion. This process is by far one of the most detailed. Once you are confident about your answers you are ready to move to your next step!
Step two: Finish your equation.
Now that your passion is well examined it’s time to finish the problem. This is the step where you will search for real answers to find out if you need to tweak your purpose. Often, we may think that just because we love that idea, everyone else will, but unfortunately this is a big entrepreneur mistake! Go out and communicate with your potential market and see what they need in relation to your idea. This can be in person, or online forums such as reddit.com or quora.com. Be careful to not spill the beans right away! Giving away your solutions can lead to biased results or, even worse, might spill your business idea! Ask questions that will let them answer your equation for you. If you see that once you have hinted at your idea and you’re not receiving the best answers it might be time to redefine. If that’s the case don’t get discouraged! The entire entrepreneur process requires remodeling even after success, so get your big pants on and learn to love every part of it.
Step Three: Roll the dice
Alright, so now that you have a strong idea of your possible target, it’s time to see if the probability of your niche. Testing your field to make sure the demand for your niche is there is protecting you from wasted time and money. This is a step-up from the last because now you have created a business model that people can see. A few great ways to test your probability are to create a blog or pre-launch your business idea and see what feedback you get! This can occur by creating social media accounts to a website field with your plan, or create a e-store and launch a pre-order for your products! Use real images and start building your brand with the hopes that it will flourish!
Step Four: Connect
According to Forbes, 80% of all small business fail (yikes) due to entrepreneurs not having a clear understanding of how to actually connect to their niche! Although, this percentage is high, you can be the 20% that make it. Connecting with a team of experienced and talented individuals is the secret to make it by as one of those successful 20% of business owners. Here at ADventure we help create a successful experience for you. With our branding, social media and website design services (& much more) we account for strong customer attention.
Alicia Waldner is the co-founder of ADventure Marketing specializing in SEO, content creation, website design/implementation and public relations.