Choose A Business Micro Niche

On December 10th, 2015, posted in: Accounting, Marketing by 0 Comment

It’s been said more businesses are started during a down economy and while that may be true, many businesses that are started as a “whim” are those likely destined to failure. The reason is that you can’t simply create a business without having a focus and even a niche. (A two-year bankroll helps, too!) For example, my niche is virtual accounting for small business owners. We focus on that. We don’t veer off into other business niches because we don’t want to dilute our expertise. We want to stay in areas where we can shine.

How can you define what your potential niche will be if you’re considering becoming an entrepreneur? The smaller you set your niche the more it will set you apart. Consider this. You could be a micro business niche real estate agent or you could be a real estate agent that specializes in tiny houses or luxury homes. You could be a virtual accountant or you could be a virtual accountant that specializes in small businesses that have a great growth plan and need an accountant who has flexible services that can meet their needs as they grow like we do!

What are the benefits of choosing a micro niche for your business? Here are a few:

  • You will become known for your niche
  • You may have less competition because of your specialty
  • You may gain traction in your niche more quickly because you are laser-focused
  • It will be easier to market yourself if you’re focused on a specialty
  • Your profits may soar because of your tight focus

Do you have a micro niche? Do you have a niche at all in your business or are you trying to be everything to everyone?

 

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