We live in a big, big world.
Often people’s ambitions are too broad to start. They want to sell a product or service to a demographic that is way too large. I think a lot of the motivation behind this is the belief that if you don’t cast a wide net, you won’t have enough of a market to sustain yourself.
Let’s say you have a product or service aimed at people who work in education. Well, that’s a broad market, both in terms of your potential customers and in terms of your competition. There are lots of products and services aimed at people in education. You get easily lost in a crowd, it’s hard to get traction, and you can drop off easily.
Now imagine narrowing your focus. Instead of all education professionals, stick to just teachers. And instead of just teachers, aim your product at kindergarten teachers only.
Guess what? In the US, that’s still 160,000 people – because our world is so big that even very narrow niches have lots of people in them. But more importantly, owning a niche lets you become THE person in that niche.
“Is there any good organization software for education professionals?” Yeah, tons. “Is there a good organization program for specifically kindergarten teachers?” Yeah, it’s called KinderManage and it’s custom-made for exactly you! That’s a much easier sell.
I’m far more likely to engage with a product or service that feels directly tailored to my demographic than buy from a much larger company where it feels like I’m the one who has to change myself to fit them instead of the other way around.
Getting good at your niche lets you be the big fish in a custom-made small pond. You can pick your clients, you have way less competition, and you can become a major name. If you want to grow from there, it’s easy – because you established your reputation.
This isn’t just advice for entrepreneurs, either. Even if you’re looking for companies to work for, remember that smaller niches have less competition for jobs, too.
Don’t be afraid of specialization!