A business niche is your area of expertise.
You take an industry and “niche down” to more intentional specifics about the people you are best able to serve.
Niching down is all about your business specializing in something.
Think about it, a doctor is not just a doctor. He or she is a specific type of doctor, like Pediatrician or Cardiologist.
The Medical Field is the industry. But medical students have to niche down to the specific type of care they want to provide to other people.
A pediatrician’s “niche” is kids. A cardiologist’s “niche” is people with heart problems. I’m sure there is even a specific cardiologist that is specific for kids (one niche) and then another cardiologist for adults (a different niche.)
Let’s say you are a Real Estate Agent.
The next best question to ask is WHO are you a real estate agent for?
Let’s say you are a Chiropractor.
WHO are you a chiropractor for?
What is going to make you stand out the best in the Real Estate or Chiropractic industry?
There are thousands upon thousands of licensed Real Estate Agents or Chiropractors for someone to choose from.
Why would so-and-so choose to come to you though?
How does so-and-so know that y’all would be the right fit for him or her?
You can definitely get more specific about the industry you’re in and the clients you want to serve.
You could be a Real Estate Agent for families with a new baby who are ready to upgrade to a bigger home.
You could be a Chiropractor for men in corporate America who sit hunched over at their desks all day.
This makes you a Real Estate Agent FOR FAMILIES.
A Chiropractor FOR CORPORATE MEN.
In the business world, people say “the riches are in the niches.”
I don’t believe you need to niche down in order to have a successful business or make a lot of money.
However, there are helpful benefits to getting more intentional about your industry.
One thing I’ve definitely noticed is that niching down makes marketing & branding so much easier because you know the type of people you’re suppose to be marketing and branding for.
Whether you are wanting to niche down better, change your niche completely or create a niche for the first time, I hope you found this post helpful.
What is your business niche? Tell us in the comments below!
Did this blog post help you get more clarity on your niche?