What is a niche business? A niche business is one that caters to the common needs and interests of a focused group of people. For instance, people who play golf forms a niche market and people who are golf instructors form an even tighter and smaller niche.
The advantage of going niche is that you can become a specialist in that chosen market. Instead of knowing a bit of everything, you concentrate your efforts on the one area.
Becoming an expert in your niche does not happen overnight. It takes time, skills, dedication and money to build up your knowledge.
Here are 7 great ways to become an expert in your niche business:
1. First and foremost, you must have a strong interest when selecting your niche. If you are going to spend a lot of time researching on this area, a strong interest will help sustain your efforts and keep you going.
2. Read aplenty and stay current! Surf the internet for industry news and related fields to your niche. Go to the bookstores and the library. Subscribe to newsletters or ezines of your competitors.
3. Attend workshops and learn from the super experts. Learn also in related topics so that you can expand on your knowledge base.
4. Test out tools, resources, software or just about anything that can be used for your particular niche. For instance, if you are a florist selling exotic flowers, knowing what is the best way to take care of the delicate blooms will help make you an expert!
5. Hang out in forums where your target market is likely to be. This is an excellent way to get to know what are the common problems and obstacles faced by your prospects. Make sure that you find out the answers or solutions to these problems so that you can post your comment and findings. Some forums even allow you to insert a link back to your website.
6. Use branding for higher perceived value: Buy and register your name as the domain name.Ã‚Â Brand names are built gradually overtime. So set aside time each week devoted to promoting your brand name. This could be giving free advice, lectures and giving press releases.
7. Have an opinion. People like to look up to experts who articulate their views. You are likely to be a winner if you can also justify your opinion with facts.