4 Tips to Create Your Own Niche Startup
When it comes to getting ahead in the business industry, offering high quality products and services is one strategy. But at times, giving the best of everything you’ve got and keeping it up is often difficult. So what’s another strategy? It’s creating your own niche startup.
But how do you develop and establish you own niche startup? Well, it all boils down to defining your specific expertise which is referred to as micro-specialization. This means that in order to be great at something, you need to pick a specific topic and specialize on it and everything about it because a true expert knows more and more about less and less.
To start with, here are a few tips that you might need with your micro-specialization:
- Determine first your knowledge base and identify your market of interest. – Before creating your own niche, it is extremely essential that you identify first which particular niche in an established industry you are interested to join. Also, determining the knowledge base is critical for what you know will be the starting point of your niche startup. You might want to enter the medical field and be an expert of one of its many subcategories, or you might want to venture in the fitness industry and specialize in one of its subsets.
- Split it into small pieces. – After defining your broad base field, get down to the specific areas within the field. To better understand this, let’s take the nursing profession as an example. When an individual becomes a licensed nurse, he chooses which area in the profession he wants to serve or specialize in. He can be an ICU nurse taking care of patients who are critically ill. He can be an OR nurse, assisting the doctor during surgical operations and monitoring the patient after the procedure. Whatever field of expertise he will choose, he will study and learn more about that specific area and become an expert on that field. The same principle applies in choosing your niche after determining your industry or market.
- Put your niche or specialty to the test. – When you have already chosen your niche, consider these factors:
- The availability of subtopics within your chosen niche – the number of subtopics help determine if the niche you have chosen is a good one. The more the subtopics, the better the niche.
- The need of your specific niche – It is critical that you identify first how many potential clients there are or you can have for your chosen niche startup. If many people are in need of your niche, then consider catering a lot of customers at the beginning of your startup.
- The attainability of your niche – this factor addresses the issue of your niche’s capability to give a solution to your client’s problems.
- Be a customer advocate and educator. – This means that you need to be readily available for your potential customers when it comes to high quality information regarding your chosen niche. To achieve this, the best thing you need to do is create videos about your chosen specialty or make blog posts about it.
Being on top, being the best, or being number one requires a lot of effort, motivation and determination. But the moment your niche startup harvests the rewards, you will definitely say to yourself that everything was worth it.