Finding Your Business Niche

I’m always happy to pass on great info...and this is great info! I’ve included a few snippets below lifted from the full article.

Many people dream of starting their own business, whether it’s a restaurant, a clothing store or selling homewares online. But no matter what kind of business you’re thinking of starting, there’s one question everyone in the planning stages needs to ask themselves – what will set our business apart from our competitors?

Market research

It almost goes without saying that the first step in building your new businesses is research. But this is particularly important if you’re looking to create a niche businesses – you need to be absolutely certain that what you’re offering doesn’t already exist. Take the time to research your competitors and understand where your business sits in the marketplace. And don’t just research competitors in Australia. Research internationally as well. Are there similar businesses overseas? Has it worked? What made it successful and would that translate here? These are all essential things to look into before you get started.

Do you need more detail on this subject? Head on over to the full article here for more ideas and perspective. Afterwards, why not drop me an email to share your thoughts [email protected]; or call me on (0467) 749-378.

Thanks,

Robert