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How Carving A Niche For Your Business Can Multiply Product Sales

How Carving A Niche For Your Business Can Multiply Product Sales

 

So you have started your business, but the reality of attracting clients on an incessant basis is challenging. This can wear down even the most ambitious and motivated entrepreneur.

For new entrepreneurs, it can be tempting to brand yourself to attract new clients. However, choosing a niche, and becoming the expert in that niche, is the most efficient and satisfying path to a more profitable business.

You have heard of the saying that goes ‘Jack of all trade, master of none’. However you have to strive to become master of one. Yes! Being a king at what you do will save you all the trouble.

As a business owner, you control your destiny. You always have a choice, and every choice has consequences, positive or negative.

Here are ways you can carve a niche for your business and how they can multiply product sales;

1. Determine Your Passion

This is a sensitive process. It can be an intimidating task to define your niche .This is because defining your specialty at first may feel like you are cutting yourself off from all other opportunities.

Figuring out your passion and how to channel that passion to help solve your target market problems can be overwhelming. It’s hard to let go of the familiar and step out of your comfort zone.

Before you can figure out what you’re passionate about, you must truly know and understand your desires, goals, strengths, and weaknesses.

Do not rush into this practice. Some of us spend months or years discerning the direction of our business, and that’s okay. Those starts, stops, and periods of re-direction along the way are all part of the great learning experience of life. Don’t try to mimic someone else’s journey.

As Ralph Waldo Emerson wrote, “Do not go where the path may lead; go instead where there is no path and leave a trail.”

2. Be Bold

It has become commonplace for entrepreneurs to fear defining their specialty, because this may cut them off other opportunities. As a matter of fact, the truth is the opposite.

Securing your expertise in a niche market will in fact attract the right clients who are willing to pay good money for your product or service.

Think about it. When you sincerely believe in yourself (and your business specialty) and communicate that with confidence and passion to your target market, you can be sure of success.

Your prospects will seek you out; convinced you are the one to help them solve their problem. Don’t let self-doubt and fright of failure stand in your way.

3. Get off Your Comfort Zone

If you reflect back, you might recall months and years when you propelled yourself forward to the next step, stage, or achievement. Perhaps that meant earning the degree, landing that job, establishing the career, launching your business, and what have you.

But unavoidably you settled in, sharpened your skills, and got into the zone.

Leaving your comfort zone means tasking your brain the more, sacrificing more time, and doing that thing you have never done before just to make sure there is progress.

Do not stick with the familiar terrain; opt to unravel what is new. Seek new strategies and principles that will move you ahead.

4. Be Optimistic Always

When you’re self-aware of your emotions, passion and strengths, when you’ve educated yourself on your target market and the unique service or product you offer to solve their problem, you are ready to step into the ‘Enlargement zone’ of defining your niche.

Living in this zone helps you focus, gain clarity, embrace learning, and ultimately, profit your business in a way not possible before you specialized.

If you’re ready to make the decision to define your niche, move into the ‘enlargement zone’, and achieve more success.

In this zone, you will find that it pays off anyways.

5. Strive to be excellent

Not doing and approaching things haphazardly in your business matters a lot. Having an excellent spirit means you want to do things in the most detailed manner. With this, you can be sure of a boom in business.

Have you ever seen one who had an excellent business spirit who didn’t boost product sales? I haven’t and I know you haven’t too.

Make these processes and more work for you and you will be on your way to record more product sales than ever. It takes an entrepreneur who has been to the ‘niche land’ to be at the ‘rich land’. So, what’s your ‘niche land?’

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Published by Valentine Belonwu

My name is Valentine, founder of this site, an entrepreneur working as a moderator at Bizsugar a small business community news site. Connect with me on Google+ at Valetine Belonwu

4 Comments

  1. sapna · January 29, 2013

    Hi Valentine

    Brilliant post!

    Its very difficult to find passion and then sustain that when there is no money flowing against that passion.The biggest fear is of failure and I feel, we need to bold enough to handle this.Its very difficult to get off the hamster wheel because we are so use to that comfort of 9 to 5 job.

    Thanks for sharing these points.

    Sapna
    sapna recently posted…Naive Blogger Meets a Minister to help Blogging Community – An InfographicMy Profile

    • admin · January 30, 2013

      Hi Sapna,
      I agree with you, having fear of failure is something everyone must let go if the person is willing to excel.

      Thanks for your comment :)

  2. Neamat Tawadrous · January 30, 2013

    Hi Valentine,

    This is a great post indeed. Yes, it is very important to carve your niche and be a master in what you do and a “Go To” Person of your craft. Think of Doctors for example, we don’t find a doctor who treats everything or every body part instead they are specialized in certain areas and they are masters in what they do. Why should it be different in our businesses?

    Great Insights and tips Valentine. Really a very helpful post.

    Be Blessed,

    Neamat
    Neamat Tawadrous recently posted…5 Strategies On How To Effectively Advertise Your MLM Business?My Profile

    • admin · January 30, 2013

      Hi Neamat,
      Thanks so much for your comment. I’m glad you liked the post. Hope to see more of you here.

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