Why finding your niche is key to success

So why is finding your niche in business key to success.

When I opened my business in March 2013, because the building work overran in terms of the building expenses, I had to find a way of getting money in quickly. So the business plan that I had written and developed was almost thrown out of the window while I scrambled together to do whatever I could to get money in.

I ended up doing whatever I could to survive:

1. Llama trekking
2. Parties
3. Weddings
4. Corporate events
5. Butchery courses
6. Lifestyle courses
7. Afternoon teas
8. A café
9. Children’s parties
10. School educational visits
11. Cookery school
12. Large scale events like Christmas markets, autumn markets, Open Farm Sunday
13. A petting farm
14. A restaurant

As a result I became very unfocused, very uncoordinated, and ended up really in a complete mess.

The lessons I learnt and what I try to explain via this episode are:

• The need to be really clear about who is your target audience and why
• What market research you need to do to spot a gap in your market
• What is a niche
• How you find your niche

How finding your niche in business is key to success as it makes you stand out against the competition, it gives you a focus for marketing and establishes your brand recognition.