In today’s rapidly changing world, striving to be a jack of all trades makes you a master of none. When we fall ill, we schedule an appointment with the doctor. When our car breaks down, we require the services of an auto technician. In the same way, you will need a structural engineer to oversee your construction works. These are experts in their respective niches, and despite our vast knowledge, we still crave for the expert’s touch.
Niche here refers to a focused, targetable portion of a market or a specialized area of expertise
So many of us try to please everyone, believing that if we do so, we’ll be accepted, validated, liked or loved. In learning, we go all out to master many skills, we want to read every book, and we want to do it all at the same time.
This pushes us to stress ourselves beyond limits, often while sacrificing our boundaries or desires.
We seem to haul along this same attitude in the way we do business.
No doubt, It’s good to be versatile and be a master of many trades, but it’s highly important to be perfect at just one thing. Whether we like it or not, we cannot be all things to all people at all times.
Nearly every entrepreneur and ace CEO who made it big in business started by first concentrating on one important aspect of their market, their niche.
You can think of a niche market as a narrowly defined group of potential customers that have specific needs, a subset of a larger group.
Whether you’re a new blog start-up or an ambitious entrepreneur looking to expand an online company or start-up, the more you concentrate on a niche, the easier it will be for you to succeed.
For example, many would argue that SEO is dead, but niche blogs rank higher on Google search index and have higher authority compared to their nicheless counterparts.
So, unless you have a great deal of capital, for starters, its nearly impossible to compete with the big sharks in the field.
If you do not have millions to work with, you only can find and fill a niche in the business world. To be a small niche company means to serve customers in a variety of targeted markets of specific products or services. This is the least risky approach that can offer small businesses, regardless of their preference, the best opportunities.
If you want to launch yourself into any market in a grand style, you must concentrate on every little detail and endear yourself to your target customers. Rather than trying to compete all-round, focus on making yourself irresistible in one or two areas that you specialize in. The more emphasis you put on the small niche, the more chances you have to win your audience and grow your business.