Is your niche big enough?

Sometimes businesses make the mistake of thinking too big (trying to sell too many things to too many different types of businesses and people).

However, you can also make the mistake of thinking too small. You may want to sell sandals for hamsters, but that doesn’t mean anyone will want to buy them.

Yes, build a tribe. Yes, focus on a narrow niche – but not so narrow that you and three other people are the only ones in it. If you do, your business won’t have enough customers or prospects to survive very long.

Do some research first

Check Google. How many results do you get for “sandals for hamsters” (with the quotes)?

Is there a newsletter? A magazine? How about blogs? Are there any other sites selling hamster footwear?

Find a good angle

If you want to focus on hamsters, maybe you need a different angle. Like hamsters 101, or hamster accessories. Or build-your-own hamster habitats.

If there are people who share your interest, they’ll be on the Internet – they’ll have forums, magazines, blogs, Facebook groups, and events.

Hamster shoes are, of course, silly. The real point is to do some research and make sure there is a market for what you want to sell (hamsters with cold feet?), that it’s big enough to support you, and that they can afford/find value in what you’re selling. $5,000 gold and diamond hamster shoes? Probably not. How about a nice plastic wheel instead?

Photo: cdrussorusso