Know Your Niche

Focus on one thing, become an expert, and thrive. Simple right? Except most of us fall into the ideas and goals trap, myself included, and suddenly loosing focus becomes way easier than you think. Whether you’re in a service or product sale, knowing your niche is key. Based on what you’re selling, what geographical area you’re in, how new your business is, and what resources you have, you can determine your target client group and develop niche marketing plans to accelerate¬†your growth.

Let’s break it down a little further.

Know your product, be up to date on market trends or developments in your field, and determine who needs what you’re offering. Think of the ideal client who would be looking for your solution; know what you’re selling.

Where are you located? What types of businesses or organizations are in your area? Who are your competitors if any? Now think about that ideal client coupled with your geographical location.

Is your business new? This is important to think about because for newer businesses, you’ll want to determine your niche in order to give your company creditability. Newer businesses will also need to consider level of ability and time management. For example, Energetek is just Kristin and I so we cannot spread ourselves too thin trying to tackle multiple target markets. Considering your product and how many team members you have, what target would enable you to grow your client portfolio?

Lastly resources will make or break everything we’ve thought about thus far. Can you adequately sell your product or service to those who need it? Will your resources enable you to beat your competitors or stop you from closing the deal? Do I have what my company needs to succeed or should we rethink our niche?

Think big by focusing small until you can say confidently that you’re great at what you do.

Trial and error is the best way to learn. I have said and thought many times that “anyone can be a client” and tried to train employees on multiple services and pitches. For me, launching Energetek was a wake up call to focus more on what works. Be mindful of what could be hindering your success to become the expert that your competitors cannot compete with.

Written by Eva Gerrits