Creating a business is hard, and there’s lots of competition. You’re competing with other businesses for investors, customers, attention, and maybe even for a property. You’re constantly being questioned about your business, and all those questions can wear down your resilience and make you resent starting a business in the first place.
To avoid this and to help stand out from the crowd, you need to find your niche. Luckily for you, finding your niche doesn’t take very long. By asking the right questions and following some simple steps, you can find your niche in no time at all, and it will help you and your business. Here’s how to find your entrepreneurial niche:
Find your passion
Start by making a list of ten things you are passionate about or even just that interest you. Working in a field you’re passionate about makes a big difference- it makes you less likely to throw in the towel when things get rough. Ask yourself what you like doing in your free time and what you look forward to doing when you’re not doing it. You can also look at what organizations you and clubs you belong to. These hobbies don’t have to be just hobbies. They can also be the foundation for your entrepreneurial success.
Find what you’re good at
Now that you have a list of ten passions and interests narrow it down to things that you are good at. Be honest with yourself on this one. Are these all things you excel at or are some just things you wish you excelled at? If it’s the latter, is it something you could feasibly get better at or something that’s better taken off the list for now? Being passionate about something is important, but you also have to be good at it to succeed.
Find a problem you can solve
Another way to find your niche is to think about problems you face and how they can be solved. Or, you can look at issues other people have and brainstorm solutions. This step requires a bit more research, but you can always interview customers or potential customers and find out what they need. If you don’t have anybody you can interview, just peruse some forums related to your possible niche and find out what needs to be solved.