SHOULD I NICHE DOWN MY SERVICES AS AN ENTREPRENEUR?

For a better understanding of the title, an explanation of the keywords is pertinent. Niche is a specialized sector of the market for a particular kind of product or services. It is a specialized part of a whole. While to ‘niche down’ means focus ones’ expertise on a particular segment of a profession or career. A web developer can choose to niche down his services to baking websites and a Lawyer can choose to niche down his profession to civil litigation.

WHY SHOULD YOU NICHE DOWN YOUR SERVICES?

This question might border a lot of persons. Why should I niche down my services when I can know every sector and make good money from it? This will look like saying no to about 270degrees and focusing on just 90degrees of your service.

This goes down to the sating, “a jack of all trades, master of none”.

It is said that the value you can offer determines the kind of people that would come after you. Expertise in a niche gives you a higher chance at becoming a recognized expert and it enables you charge more for your services.

IMPORTANTS OF SPECIALISING IN A NICHE

  • IT ATTRACTS PEOPLE TO YOU

Once, you specialize on a niche, it gives potential customers a sense of credibility for your services. That is why women will always prefer to visit a gynecologist than a general doctor. It gives people a sense of satisfaction that you can solve their problem. Once, you keep making successful projects on your area of specialization, the higher you get.

  • HIGHER BARGAINING POWER

When you have a niche, people will not only pay for your services but will begin to also pay for your expertise. Once, you are seen as credible, people will no longer question your services. And will be willing to pay for your quality expertise.

  • IT MAKES YOUR COMMUNICATION PRECISE

Being able to communicate your skills and convince a potential customer is very necessary skill for every entrepreneur as it can make or mar your business. Imagine where an engineer tells a potential customer looking for someone to work on his car, “I can work on anything Engines”. And another engineer who says, “I specialize on automobiles”. Everyone will definitely go for the second engineer. By specializing in a niche you cut the long process of trying so hard to explain yourself, what you can and cannot do. It makes the communication so direct, short yet comprehensive. Landing a big client often require this.

FINDING A NICHE FOR YOUR SERVICES.

Having read through, you might now want to create a niche for your services. How then can you do this?  The first thing to consider is something you love and one that is lucrative. So, your niche should correlate with your income potential. Carryout and deep research on it including the estimated income capacity and its market flows. There should be a balance of being happy with your niche and income potential.

GET STARTED

After finding out the niche you want to specialize in, create a portfolio for your niche. This portfolio should include your experiences in the niche, methods you employ to solve your client’s problem and the problem you solve.

Then market yourself. Not just to gain traffic on your portfolio or make money but to portray yourself as an expert. Here, you begin to consider your SEO, social media and all forms of advertisement.

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