A niche denotes products, services or interests that have a high appeal to a select smaller group of people, as compared to the general populace. By laser focusing your services and communication to the needs of this smaller group, you can gain much higher relevance than trying to target everybody.
Advice from Masters – Quotes & Tips to find your Niche
Be Different, Not Better: Designing a unique and distinct category niche is the biggest step that any entrepreneur can take towards successfully carving out territory in the minds of the audience she wants to attract. It comes down to leveraging the exponential value of what makes you or your venture “different” rather than leaning on the incremental value of what makes you “better.”
Be Unique, Don’t Compete: If everyone says they are “better,” consumers get confused. They assume if everyone says they are “the best” at what they do, the only way to make a decision is to compare. The first thing they compare is price. And that starts the race to the bottom.
Companies that compete with each other in the traditional ways end up destroying much of the margin and profit in the whole market category. Why not instead design something unique, like a fitness club that caters solely to women with classes unique to their needs?
You can hustle all you want, but if you’re hustling to position yourself in a category that already exists, you’ll find yourself on one of those endless hamster-exercise wheels — running at full speed without really getting anywhere. You aren’t defining the conversation. You’re playing by someone else’s rules — rules that could change midcourse.
Apple didn’t compete in a traditional way. It did not get into a feature or price war like most tech companies do. It redesigned the definition of a mobile phone. It had a different point of view.Christopher Locchead – Author – Niche Down
The easiest way to go out of business is to attempt to be all things to all people. It is impossible to be the best choice for everybody. If you try to do this, in the best case you will end up being a mediocre, average provider of average products or services. Instead, you should choose a targeted group of customers to whom you can be the best provider.Donatas Donikar – Author – Start-up Evolution Curve
If everybody is doing it one way, there’s a good chance you can find your niche by going exactly in the opposite direction.Sam Walton – Founder, Walmart
I think one of the bigger lessons the internet has taught us, is that ‘niche’ or ‘sub culture’ are a lot bigger than anyone ever thought.Warren Ellis
Recommended Books to Find Your Niche
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