How to Define Your Small Business Niche

You have the skills, talent and experience, and now you have determined that it is time to start a small business of your own. You may find that your new enterprise can compete most successfully with the big guys if you identify a specialty niche, rather than trying to be all things to all customers.

Difficulty: Moderately Challenging

Instructions

1. Make a list of all the products and services you offer your customers. Organize the items by category.

2. Review the list and re-organize it in order of the products and services you provide most often.

3. Compare your lists. Look for areas where they overlap.

4. Have a frank conversation with yourself and your staff. Do a comparative analysis, lining up what you think you do against what the data indicate you do.

5. Decide how you can reposition your business to focus on those products and services that you have been selling regularly.