Niche Building with Focused Energy
Posted: Tuesday, April 06, 2010
by Terry Swejkoski
Spirit Publishing, LLC
One of the biggest mistakes a small business owner can make is trying to compete with the huge corporations that have seemingly unlimited marketing budgets. I'm not saying be fearful of getting into the game, what I am saying is choose your niche and stick with it.
Select any industry with the potential for huge profits and I promise you will find a giant corporation dominating that industry in some manner. That's part of the American Capitalism World, get accustomed to it. However, the strength of huge corporate structure is also their downfall. Their main purpose for existence is to maximize profits and to do it in a big way. The huge corporations answer to stockholders and stockholders want to see their investments growing consistently; with that comes a great deal of bureaucracy, including multiple departments that need to interface with one another to get anything done.
If you take advantage of some the up-front research conducted at the mega corporation level, it may prove to be a great catalyst to the goose that laid the golden egg for your small company. Watch the market trends for when something new or about to be introduced in any given industry and you will always see some form of advance notice leaked (usually purposely) from somewhere within the mega corporation. They want their investors to believe they are on the cutting edge of advancements in their particular industry. The truth is they may very well be the reigning expert in that industry. So, why not piggyback on some of that expertise and the pre-launch announcements the corporation is making in the media.
Simply stay focused in your niche, doing what you do best and only take on the projects that fit well within your focused area of expertise. There's plenty of work out there for all of us, as long as we are wise enough to follow our own path instead of some corporate competitive structure. Do what "feels" right for your company, not what you think is right. Let the big corporations do the upfront research for you, while you capture the rewards from the lower fruit on the tree. Everyone will win and you will be happier at the end of the day because you stayed focused on your niche building strategy, without wasting efforts in areas above your level of current potential.
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Top-level comments on this article: (1 total)I thing this is very sound business advice, and I like that you keep it human, and recognize the importance of "feel" rather than "think".Thanks Jennifer...I believe life flows at a higher energy vibration through simlicity and following your feelings, this includes business endeavors.
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