Finding and creating a niche.
Published on October 10, 2016
Published on Wealthy Affiliate — a platform for building real online businesses with modern training and AI.
Believe me am no expert in any of this, but have been doing some reading and sharing what I have learnt is the least I can do in a helpful community like WA.
In the book, Start Your Own Business, the authors explain how to find the right niche for your entrepreneurial needs. Once you’ve come up with a good idea for a business, the next step would be figuring out who your market is. They clarify that the two basic markets you can sell to are: consumer and business. For example, if thinking of selling women’s clothing, your target market is consumers; if instead selling office supplies, your target market is businesses. If then, for example, offering training or counselling services—you may market to both businesses and individuals.
The more narrowly one can define a target market, the better. This process of creating a niche is key to success for even the biggest companies. Wish you all the best with this my fellow WA members.
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