What exactly is a niche and why should you think very seriously about carving a niche for your business?

Is it better to be a generalist in business or a specialist? In starting or growing a business, should you try to grab a little bit of everything and capture a big share of the market, or is it better to focus and specialize in one core area or niche?

In this episode of the Smallstarter Business Podcast, John-Paul Iwuoha explores the concept of niches and why they’re important, especially for new businesses or companies considering a turnaround.

Important points in this episode:

  • Why most big blue-chip companies started in a niche
  • The powerful growth strategy that niche businesses can exploit
  • 3 big and invaluable advantages of carving a niche for your business
  • 3 simple but very effective ways to carve a niche in any market
  • Interesting clues that can help you discover a niche in almost every market