What’s a Neesh? Kneesh? Niche?
Niche: 1. A specialized but profitable corner of the market. 2. A situation or activity that is specially suited to a person’s interest, ability or nature.
I know what you’re thinking. “NOPE! I want to be able to do anything; I’m a one stop shop!” I get your thinking, however… when you are starting out, finding your niche market can help your path to success.
A niche allows you to reach a target audience as well as reduce your competition. You are able to build your audience and gain their loyalty. Having a niche doesn’t mean that you won’t be able to write about or create other things. You can always experiment with your blog and write on other topics, such as a blog series and measure your audience’s reaction to see how you would like to proceed. You can always introduce a special product for a limited time to determine if you want to move forward with it.
Here are some examples of companies that found their niche and grew.
The Business: Under Armour
The Problem: Sweaty, wet cotton shirts after a few minutes of playing football
Former college football player Kevin Plank founded the company in 1996 (launching it with $17,000.00). He was tired of his cotton shirts dripping with sweat after a couple of minutes of playing football. So, he came up with a solution. That’s right, Under Armour started with compression shirts. Kevin invested $17000.00 in product development and got 500 shirts to show for it. He distributed them to former teammates and they loved them. Now, Under Armour is competing with Adidas and Nike and their product line has grown tremendously. Just think, it all started with a need.
The Business: Diapers.com
The Need: A handy way for parents to purchase diapers
In 2005 two best friends that were both dads were tired of the frustrations of finding diapers. Whether having to make midnight runs for diapers or having trouble finding the right size and having to wait in line just for diapers. Their solution was to create a resolution to these problems which is how Diapers.com was started. In 2006 they opened an office and hired one full-time employee. In 2009 the company was named Quidsi (in Latin it means “what-if”) and had added Soap.com, BeautyBar.com, Wag.com, Yo-yo.com, Casa.com, and VineMarket.com. The company operates independently out of New Jersey however, in 2011 Amazon purchased Quidsi. In 2006 there were 2 employees. Now, there are more than a thousand.
The lesson here? Start small, make it the best it can be, you’ll gain confidence and from there be able to expand. Now figure out that niche and get working on it!
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