I got a phone call from a business owner who is trying to identify his niche. He hired a consultant, but nothing worked. He asked for my advice.
What problem does your product solve?
Silence. No answer. I repeated the question. No answer.
If you can not identify the problem that you are trying to solve, you can not find your niche, as a matter of fact, it is hard to have a business with no problem to solve.
Let me share you five simple steps of building a business:
1- Start with solving the problem.
2- Find people who have the problem.
3- Market to them.
4- Offer your solution.
5-Deposit your money in the bank.
Choosing a niche means giving up on other possible income sources. However, you would hope that you become one of the best service providers that more people choose to do business with you. Most businesses are not willing to do that because they are sure about losing possible income streams, but they are not so sure about gaining more customers.
Be passionate about your craft, master your craft, and you will never have to worry about the size of your niche. Be a big fish in a small pond better than being a small fish in a big pond.
Trust me, follow my five steps model, and do not tell anyone about it.
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