Tips for Owning Your Niche
If you are thinking about starting a business, forget about cornering the market on some hot commodity. Forget about being the next Walmart, Microsoft, Google, Amazon, Facebook, or Apple. Those positions are already taken. Besides, you don't have to be big to be successful. All you really need is to own a profitable niche.
If you are in business already, there is a good chance you already have a good start on achieving that goal. You already have a product or service that you believe in. And you already have a few loyal customers who like what you do. But that is what every business person already has. There are a few things you will need to do if you want to take it to the next level:
Don't Be Afraid to Go There
When you are trying to make a statement that everyone is going to remember, you can't take half measures. There is no being coy. You have to go there, all the way there. People should have to do a double-take. They should be whispering things like, Oh no he didn't!
If you want to find the people who are the most enthusiastic about the category, it will be the most quirky, the nerdiest, the most geeky of the bunch. Those are the most rabid fans. And you need to address them in the language they understand and respond to the best.
Don't just launch a social media service and offer a small corner of it for those who like to share cat photos. Those who are serious about pet people will launch a business about social media for pets. While such a company already exists, it provides a sterling example of what it means to own a niche.
This is a community of owners who have made it possible to give your pet a voice. It is not just about sharing cute videos. There is also the practical function of identifying lost or injured pets and reuniting them with their families. This company goes all the way there to reach the people most interested in pet communities. You will have to do the same if you want to own your particular niche.
Embrace Your Inner Madness
When it comes to creating niche websites, there is always a question of whether to do one big site or many niche sites. If you really want to own your niche, you should concentrate on only one niche at a time. That is because no one can be extremely passionate about many things at once. To really own it, you have to be more than passionate. You have to be driven nearly stark-raving mad with passion about it.
There is a good chance your inner madness is something that drives other people crazy when you start going on about it. They've heard it all before. But you can't stop talking about it. If it is a product, you are not just a user, but a superuser. You are not merely an enthusiast. You are an evangelist. You love this stuff. And you think everyone else should love it too. Don't let anyone talk you out of that passion. There are a lot of other people in the world just like you. Let your inner madness drives you to become the voice of that niche.
Let Your Business Name Speak for Itself
Your business name, website, signage, and branding are not the places to be cute. You are after a niche of people who are already looking for you. Make it easy for them to find you. Be clear about what it is you do. If you knit blue socks, your business name should be, I Knit Blue Socks. Your URL should be, iknitbluesocks.com. Your logo should be hands holding knitting needles with a mostly complete blue sock dangling from the yarn.
You have to be the #1 hit for everyone who has even thought about acquiring a pair of blue knitted socks. Think, 1-800-FLOWERS. If you lose an opportunity because your name was IKBS LLC. well, that's on you.
Go all the way there. Embrace your inner madness. And make your name your sales pitch. Find companies that do this, and you will find companies that have not only owned their niche, but defined it.