Feedback Form
Home Features Mastermind Forums About Advertise Blog Network Contact Be An Author

How to Pick a Profitable Niche for Your Small Business

How to Pick a Profitable Niche for Your Small Business

Before you settle on a niche for your small business, you need to do some research. I’m sure you have an array of talents, knowledge, interests and passions. Not all of them are marketable and you don’t want to be batting your head against a wall trying to become profitable.

I've seen so many smart people start businesses that languish for lack of clients. Many times they are just unclear as to who their clients are, or they've picked a niche that's too broad or narrow. Picking the right niche can be a deciding factor in whether your business succeeds or fails.

Being too much of a generalist just doesn’t work. Why not? Because people want to go to experts. You can't be everything to everyone. You may fear loosing potential clients if you don't try to go after every possible lead. You may try to reinvent yourself to fit the needs of each person you meet. The problem is that you won't be growing a reputation of being really good at anything. Let's face it. In today's competitive environment, consumers are searching for proven specialists.

If you were having a baby, would you want an family doctor or an ob-gyn?

Here are some silly and not so silly examples of niches that are too large, just right, and too small.

Too Large Just Right Too Small

Doctor Dermatologist Faces only
Internet marketer Weight loss For college aged women
Lawyer Estates and Wills For divorced men over 40

As you can see if your niche is too large, you’re likely to be passed over for an expert. If it’s too small there just aren’t enough clients. Finding the right niche is crucial. But before you settle on a niche here are 3 important criteria to consider.

- Will my products/services fill an aching need for my target clients?
- Are they willing and able to pay?
- Are they relatively easy to reach so I can market to them?

If the answer to any of these questions is no, you might want to continue researching and refining your niche.

One final question to test your niche is this–is it oversaturated with competitors? If so, can you put a spin on your ideas that will make your business fresh, original and compelling? If your niche or industry is an emerging or growing trend, then you might be able to successfully throw your hat in the ring. If not, and you’re on the tail end of a trend, chances are you’ll struggle and you may want to re-think and refine your niche.

Follow these simple tips before making a commitment. Check out what successful businesses are doing in your niche. How are they marketing? How profitable are they? Following these simple suggestions could have a huge impact on your success.

Want to learn everything you need to know to rev-up your new business in a just a few months?
http://smartrack.net/rev-up.htm





How to Pick a Profitable Niche for Your Small Business - To learn more about this author, visit Janis Pettit's Website.

Like this article? Share it with your friends

Article Feedback
 How to Pick a Profitable Niche for Your Small Business Very informative. Thanks for writing!
Commented on How to Pick a Profitable Niche for Your Small Business.
 How to Pick a Profitable Niche for Your Small Business Leave Your Feedback
article feedback

Article Feedback
Cheryl Matthynssens

Cheryl is a life skills coach, licensed Chemical Dependency Counselor and a 20 year entrepreneur.  Cheryl's dedication to achieving a life of balance led to her expanding her teaching from the simple managing of life's daily challenges to adding financial well being as well.  A direct marketer with DrinkACT, she is gaining ground in the online community with her concepts of making sure business owners, entreprenuers and employees have well rounded life styles.  She opened up a small affiliate site - The Balance Guide-  to help others find resources for mental and emotional well being.  Visit Cheryl's blog to see more of the diversity beyond business she has began offering online at www.thebalanceguide.blogspot.com

- Visit Cheryl Matthynssens's Website

John Alexander
John has taught keyword research and SEO skills to small groups of business owners and Webmasters from over 80 different countries world wide since 2002. John is also the Director of Search Engine Academy ; Co-director of Training at Search Engine Workshops offering live, SEO Workshops with his partner SEO educator Robin Nobles, author of the very first comprehensive online search engine marketing courses at SEO Training Online and the SEO Workshop Resource Center.
I look forward to hearing from you! - Visit John Alexander's Website

John Brennan
John Brennan Ed.D. Dr. Brennan is President of Interpersonal Development, LLC, a training and development firm. Interpersonal Development has provided sales training and coaching to more than 3,000 sales reps from over 100 companies. A native of Australia, Dr. Brennan received his doctorate from the University of Rochester. His dissertation researched the effectiveness of Behavioral Modeling Technology in training people in interpersonal skills. While he has spent most of his career designing or delivering training, he was also a Vice-President of Sales of a training and development franchise with operations in 25 markets. Dr. Brennan has designed and delivered sales training in North America, Asia, Europe, Australia and the Middle East. He has been a guest speaker at numerous national and regional professional conferences. When Microsoft wanted Best Practices articles on sales for their web site, they called Dr. Brennan. The results are at http://office.microsoft.com/en-us/FX011387391033.aspx His firm’s clients have included Volvo, The Prudential, Merrill Lynch, Eastman Kodak, Gannett, Equifax Europe, the Economist Group and countless small businesses. - Visit John Brennan's Website

David Barr
David Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website

Anne Barr
Anne Barr has over 26 years experience in sales and marketing, six years as a franchisee. She has assisted over 367 business owners and purchasers to achieve their goals in career change, transition and exit strategy. She holds the designation of Certified Franchise Executive from the International Franchise Association, Certified Business Intermediary from the International Business Brokers Association and Board Certified Broker from the Texas Association of Business Brokers. Anne is active in professional organizations, networking groups and volunteers for non-profit entities. As owner/operator of four successful businesses, Anne has proven people skills and enjoys helping clients find the right "fit" in business ownership. Visit www.FranchiseOpportunitySpecialist.com for more information about me and my company. - Visit Anne Barr's Website

Casey Gollan
Casey Gollan, Business Coaching & Mentoring Programs. Add $1 Million to $10 Million in the next 1 to 3 years. Since 1996 Casey has to added hundreds of millions of dollars to businesses. Watch a free video see client results Business Coaching website. - Visit Casey Gollan's Website

Kim Castle
With nearly two decades in the advertising and design business, with clients like Domino's Pizza, General Motors, Direct TV, Pedigree, Wolfgang Puck, Higher Octave Music, Hollywood Celebrity Products, Disney, and Paramount, as well as thousands of entrepreneurs around the world define, structure, communicate, and position their business for greater profits, BrandU(R) co-creators Kim Castle and W. Vito Montone discovered that entrepreneurs could experience the same power that big brands command for a fraction of the cost with the world's only process-based results-drive Integral approach to business creation. BrandU(R) is helping entrepreneurs grow with the power of extreme clarity from idea...to brand...to market(TM) and helping one million entrepreneurs become successful and whole so that they can make a difference in the world. Are you one of them? If you want to experience clarity all the way to the bank(TM), get started now at http://www.brandu.com. - Visit Kim Castle's Website

Jeff Foster
WebBizIdeas.com is a Minneapolis website design company founded to help people start an internet business by providing them with website, business, and internet resources that help foster the growth of successful online businesses and develop innovative Internet business ideas.  We specialize in internet consulting & internet marketing
- Visit Jeff Foster's Website


To learn more about the Evan Elite Author Program please contact us.

About The Author


Janis Pettit
(Visit Janis's Website) Janis Pettit (http://SmallBusiness-BigResults.co m) is a successful entrepreneur and highly regarded small business growth and marketing expert and coach who has helped hundreds of small and solo business owners worldwide reach their profit and personal goals and create a solid 6-figure personal income. Learn how to make your small business website a client magnet and receive a free audio and e-book, 10 Low or No Cost Ways to Drive Qualified Traffic to Your Small Business Website at http://MaximizeYourWebsiteNow.com. Check out our business building mastery home study course at http://MaximizeYourProfitsNow.com and our Platinum 6-figure-a-year Mentoring Program at http://MaximumBusinessGrowth.com.

Janis Pettit is a Platinum author on EvanCarmichael.com
About The Author

View Author Blog
View Author Blog

View Author Video
View Author Video

Free Downloads


Janis Pettit's

Complete
List Of
Business-Coach
Articles

Name
Email
If you enjoyed this article, get Janis Pettit's Complete List of Business-Coach Articles For FREE!

More Janis Pettit
Micro Entrepreneurs Need to Go Global
Why Some Small Businesses Fail or How to Get to Oz
How Your Business Model Could Be Limiting Your Income and How to Change It
Small Business StartUp Advice Why Picking the Right Market Niche is So Important
How to Work From Home Without Feeling Isolated
Mistakes That Can Flat Line Your Small Business Sales
Outsourcinghow to work less and make more
Where and How to Learn Exactly What People Want to Buy
Increase Sales by Giving Them What They Want
Maximize Your Small Business Website 12 Crucial Web Design Tips for Small Business Owners
Free Downloads


 
 
 


Evan Elite Authors
Jeff Foster  
Kim Castle  
John Alexander  
Evan Elite Authors

Become An Author
Have you written articles that would be of value to entrepreneurs? Become an expert on our site by publishing them! Expose yourself to a wide audience, drive more traffic to your website and get more sales! Click Here for details.
Become An Author

Evan's Latest Video
Modeling the Masters: Learn the true secrets behind Walt Disney's business success factors & grow your company! Video produced by Phanta Media
Evan's Latest Video

Business Opportunities
"Learn straight from Evan how you can Make a Full Time Income (And More) from a Website"

How to Start An Online Business

Click Here To Learn More
Business Opportunities



Evan's Newsletter
Get advice & tips from famous business owners, new articles by entrepreneur experts, my latest website updates, & special sneak peaks at what's to come!
Name:
Email:
Evan`s Newsletter

Free Downloads
Million $ Interview Icon Million $ Interview
Why New Businesses Fail Icon Why New Businesses Fail
Networking Road Warrior Icon Networking Road Warrior
How Search Engines Work Icon How Search Engines Work
Instant Scripts Icon Instant Scripts
Free Downloads - Complete List

Entrepreneur Tools and Guides
Top 50 Productivity Blogs To Watch In 2008
Top 50 Productivity Blogs
Top Blogs To Watch In 2008
 
Top 50 Marketing Blogs
Top 50 Marketing Blogs
Top Marketing Blogs of 2009
 
Entrepreneur Tools and Guides

SEO For Africa
SEO For Africa
Kayi Afi Da-silveira Adidogomé, Togo,
Kayi Afi Da-silveira
Adidogomé, Togo
SEO For Africa

If I Were A Startup...
Erez Zevulunov, $150k to $504k in 2 years
Erez Zevulunov
$150k to $504k in 2 years
Chris Nguyen, 30+ national clients on $0
Chris Nguyen
30+ national clients on $0
If I Were A Startup... - Complete List

Famous Entrepreneurs
Pierre Omidyar, Ebay
Chris De Wolfe Tom Anderson, MySpace
Famous Entrepreneurs - Complete List

Entrepreneur Advice
Jack Canfield, Chicken Soup
Jack Canfield
Chicken Soup
Ask Michael Gerber, Reader Questions
Ask Michael Gerber
Reader Questions
Entrepreneur Advice - Complete List

Popular Articles
(Premium Authors)

     Why is a company culture so important
By Ron Finklestein
     Are you Untouchable
By Ron Finklestein
     Why Businesses Succeed
By Ron Finklestein

Have A Suggestion?
Toronto Salsa Classes / Toronto Salsa Lessons Email us your ideas on how to make our website more valuable! Thank you Sharon from Toronto Salsa Lessons / Classes for your suggestions to make the newsletter look like the website and profile younger entrepreneurs like Jennifer Lopez and Sean Combs!
Have A Suggestion?

More Evan Carmichael
More Information