Step 7: Find Your Niche

Finding your Niche is Important

  •     It is important to find a target segment which values the benefits you offer significantly more than alternatives
  •     If the segment is distinct and its size economically viable, you may have discovered a profitable niche
  •     Finding your Niche is also important because you can't afford to be everything to everyone.
  •     A profitable product / service must stand out and find quick acceptance amongst happy & satisfied customers

Defining Your Niche

  •     What are you Selling?
  •     Who is your Target Customer?
  •     What benefits is your Target Customer Seeking?
  •     How is your Product or Service different from your Competitor's Offerings?
  •     How is your Product / Service Superior Vs Competition for the Target Segment?
  •     Which benefits / differentiators make your product unique?