Finding Your Small Business Niche

David Kiger started Worldwide Express Operations, LLC, in a spare room of his Houston home with $5,000 and a dream. The company now serves as a major partner of UPS and has handled package shipments for tens of thousands of small and moderate-sized businesses. Because David Kiger concentrated on providing smaller companies with a service model previously available only to larger corporations, he was able to fill a gap and thrive amidst the constant competition among freight shipping companies.

Finding your niche as a new small business owner can be tough, but without such a focus, it will be difficult to succeed in today’s fast-paced, consumer-driven environment. So first, identify a need, investigate the ways you can fulfill it, and then work to maintain a constant level of customer satisfaction.

Experts and experienced businesspeople consistently advise differentiating yourself from the competition, particularly in today’s soft economy and saturated marketplace. Demonstrate how your product or service is unique, more valuable, and more innovative. And make sure all your marketing and branding products are clear and easy for the public to understand.

In addition, you must understand yourself and your own business, as well as your customer base. If you are having trouble finding a niche, ask yourself what product or service you have sought and not found. Chances are, others are looking for the same thing, and it might offer an opportunity for you to break new ground. Be sure to define your short- and long-term goals, and keep plans and information simple and manageable.

The nonprofit organization SCORE maintains a number of resources on its website at www.score.org to assist small business owners with this and numerous other goals.

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