What is a Niche and Why You Should Care?

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A niche is a situation or activity specially suited to a person’s interest, abilities, or nature. It is also a special area of demand for a product or service.

Let me illustrate.

Imagine you live in a place where researchers discovered a treasure map. Everyone got excited and started digging for the gold. Only one problem, though.

They didn’t have the tools to dig!

Fortunately, you have a shop that offers the tools they needed. Everybody in your place is all eager to dig that treasure. Since, you have the tools they desperately needed, instead of charging P100 you can now sell each one with P1000. They are your market group. You have the solution they are looking for.

Now that you know what is a niche, it’s time to get started.

Select your niche

    • You need to assess your own interests and strengths before you begin.
    • Start with what you know.

CONTINUE READING

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