Today I wanted to write a post about what I think to be the most important thing to figure out when building a business. It also applies to writing blogs, ebooks, actual books etc. So what is it?
Finding your niche.
A niche is basically your specialty. Typically, the more focused and specific your niche is, the better.
Now why is focusing your business so important?
Well, there are a bunch of reasons. For one, once you figure out what your specialty is, it makes it very easy to figure out who to market to. But the major reason figuring out your niche is so valuable is because it makes you stand out.
Handmade jewelry, for example is a very saturated market these days. So if you’re opening a shop on Etsy selling every type of handmade jewelry from beading to charms to clay you’re not really going to stand out much from the crowd. But if you have always had a passion for say, nautical themed jewelry, focus on that! Create a whole shop based on the ocean, anchors, fish etc. Really go all out on the theme. You’re then going to be viewed as the go-to shop for all things nautical. You suddenly become different from the thousands of jewelry vendors out there.
Here’s what I’m talking about, I typed in “jewelry” in the Etsy search bar. I got back 4,923,763 items. Then I typed in “nautical jewelry,” and got back 32,025 items. That’s an over 4 million item difference!
So how do you find your niche?
Ask yourself what you’re passionate about. What makes you truly happy? Something I struggled with in the beginning was forgetting about my passion for art and design because I assumed there was no market for the type of work I did. If you do things purely for money there’s a very good chance you’ll end up pretty unhappy. Now if you could do exactly what you love and make a living at it, how great would that be?
The great thing is, there are billions of people in this world, everyone has their own unique interests and if YOU are interested in something theres a good chance other people are too. If you’re thinking that the one thing you are truly passionate about is really obscure and there is no way that there is a market for you, I’m telling you now, you are wrong! Here’s a great example:
I just googled “handpainted computer mouses.” A bunch of websites came up with really awesome pieces. Julietarts.com for example sells tons of handpainted computer mouses. Now I don’t know about you, but I wouldn’t have thought that there was a market for this. This mouse below is selling for $190. Yes, you read that correctly!
So what I’m trying to say is figure out your passion and stick with it. No matter how obscure it seems. You end up happier and if you work really hard it will absolutely pay off.