Finding Your Niche for a Home Business
In the writing world, we talk about “finding your niche audience”, those readers who will be interested in the topic of your book. When you write for a niche audience, you know you at least have that group of people who are more likely to read or purchase your work.
When deciding upon developing a home business, do you have a niche that will garner you customers...either by expanding upon your talent or filling a need? What will make your product or service stand out among others?
Do some market research in your area before you begin your business, especially if you’re making a large investment in materials and equipment. See if there are any others who will be competing for your market in your area. For instance, if you’re making quilts or pottery or ceramic tiles, how is yours different? Check out galleries and shows to see what others are doing. Don’t make just what they are. Find your unique niche.
If you’re going to do landscaping or yard work, who else is offering this service? Where will you draw your customers? Don’t try to undercut price and lure their customers away. Do you have any particular landscaping or gardening skills that someone else doesn’t?
Whatever you’re thinking of undertaking as a home business, do some “homework”, make a check list, see what your competition is and if there are customers in your area interested in what you offer.
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