How to Find Your Ideal Niche

Many entrepreneurs develop their small business marketing strategies by targeting the largest possible market. They are afraid that they will lose business by turning away customers. The truth is that if you are not marketing to a distinct group of customers and offering them a unique solution, you are limiting your success.

There are many benefits of niche marketing, including the following:

• Focus your marketing resources. You understand the needs and language of your niche, so you can communicate better with them and speak directly to their situation.
• Become an expert at providing your service or product. And as an expert, you command higher fees and leverage your efforts to create multiple streams of income
• You differentiate yourself. And by differentiating yourself, you significantly reduce your competition and create a distinctive personal brand.

What is the definition of a niche and is different from a target market? While the two terms are often used interchangeably, there is an important difference.

A target market is the group of people most likely to buy your product or service. They are the people to whom your product is being marketed

A niche combines your target market (WHO) with the solution you are providing (WHAT).

Niche = target market (who) + the problem you are solving/need you are fulfilling (what)

The key to understanding niche marketing is answering these three questions, or the three "W's".  WHO are you marketing to, WHAT solution are you providing them, and WHY should they do business with you.  Remember that people don't buy a service or product, they buy a solution. When you become the solution provider for your target market, you are a winner.

In finding your niche, you can either start with your target market (WHO), or the solution you are providing (WHAT). It is often best to start with your WHAT, which in effect means starting with YOU, and what you uniquely offer.

You can't be great at everything, but there is an area in which you have something special to offer. What is unique about you? What are your passions, experiences, interests and expertise?

Once you have identified that, think about who could most benefit from what you have to offer. When you find that connection, you have found your niche.

Remember, there is only one YOU, and you will ultimately attract those who find you compelling. Be true to yourself and you can help others in ways that nobody else can.

Cindy Schulson helps solo entrepreneurs identify and attract their ideal niche so they can market themselves effectively and authentically.

Get your free copy of her report, "Ten Steps to Identifying and Attracting Your Ideal Niche".