Just finding a niche for your business will not guarantee success, says Susan Friedmann, author of a new book on developing niche businesses.
You still have to “own” the niche in part by becoming the expert on your niche rather than a generalist.
Ms. Friedmann’s book, “Riches In Niches: How to Make It BIG in a Small Market,” details seven steps for niche success.
“The goal of the whole book is to be the expert,” Ms. Friedmann says. “One thing that I tell people is that when you’re looking at a niche market, your focus should always be on how can I be the expert, the go-to person that people will come to for whatever kind of information, service, [or] product that you’re selling.”
Much of the book is developed from her own 18 years running a niche business — helping companies get the most out of attending tradeshows and industry events, she says.
Central Valley Business Times.