THE SECRET TO NICHE SUCCESS
"But what if you don’t want to follow the crowd?
That’s noble, but the pioneers always take all the arrows.
The pioneers are the ones that have to educate the market — and that takes a lot of time and effort. It’s a lot better to follow the crowd (read: competition) and start off there." CopyBlogger.com - Find a Viable Niche
I find it especially interesting to read what the author, Sean D'Souza, has to say on finding a viable niche.
He argues, quite convincingly, that if other people have come before you and succeeded, there will be room for you in the market, as well. While this thought process may not be foolproof, as you're not privy to all the financial particulars of any business other than your own, your chance at success is greater if you're toeing the party line.
At the very least, you should wait until you're somewhat established before carving out an unusual niche.
In a world where fast and processed is preferred, raw food comes to mind as an example. When I can, I like to incorporate it into my diet. These days, it's not as uncommon as it used to be to find raw food restaurants, especially in trendy neighborhoods. In the past, no sooner did doors open, they closed again.
The very nature of this lifestyle means the menu choices need to be made fresh as opposed to prepared ahead of time. This can be somewhat labor intensive and inefficient. Leftover foods cannot be frozen and spoil readily. Restaurants often compensated by paring down their menus to just a handful of basic options. They lacked the volume necessary to keep them in business.
Fast forward a decade and healthy living awareness is at an all-time high. There are raw food cookbooks galore as well as scores of Youtube videos instructing you in all methods of purchase and preparation while extolling the virtues of eating in this manner.
Clearly, this was a roundabout way to success. If you buy into the concept that a secret advantage is found in heavy competition, then, even now, the path of least resistance may continue to be the purchase of a popular franchise.
No matter how you spend your day, come home to this
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ABOUT THE AUTHOR: Graduate REALTOR Institute
Jill Sackler, NYS Real Estate Broker Associate based on Long Island's South Shore
Specializing in Lifecycle Real Estate Transitions
©Jill Sackler 2010