MBA1950 Q&A Wednesday: Should I first try to win over a small part of a small market?
When you niche down, how far down should you go? It’s Q&A Wednesday, and one of our listeners is about to open up a new e-commerce store. But first, we need to determine just how specific the target market is.
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Show Notes
When you niche down, how far down should you go?
It’s Q&A Wednesday, and one of our listeners is about to open up a new e-commerce store. But first, we need to determine just how specific the target market is.
There are advantages and disadvantages to extreme niching. But when it’s done right, you won’t paint yourself into a corner. You’ll create the momentum necessary to move beyond your niche — secure in the revenue you’ll keep getting from ultra-loyal existing customers.
With several examples, we’ll explore how small businesses that start really small can accomplish big things.
Learn how to ballpark the right niche size, how to earn their business, and how to parlay that success into cross-niching down the road. Click Play!
To submit your questions, visit 100mba.net/q.
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