Are you thinking about opening your very first online store? The initial step of starting is the hardest of all.
Take the leap of faith and dive into this growing industry. We understand it can be scary, however, it’s incredibly rewarding.
We created this guide to help you find yout footing and explore the positives of going niche.
According to the balance small business, Niche in the industry you will be in and the types of products you will sell; it’s what you specialize in.
If you made it this far, you are one step ahead! Many businesses make the mistake of going too broad. Niche is a key to long-term success.
Together products and designs help establish the image of your business. Start small and expand at your own pace.
Recognition of want/need for of certain product
“I love my dog more than anyone else in this world, I want to buy a shirt that showcases my love for my pet.”
Uses Google to search for “dog themed t-shirts”
Paying a visit to multiple online stores that sell dog themed products
Transaction is completed.
Happy or dissatisfied. Recommendations.
Get Started With A Niche
Explore Your Interests
Passion gives us meaning in times when we start doubting ourselves. Passion keeps the wheels turning through the hard times.
According to K. Shalev, “Some say not to mix passion and entrepreneurship, but I respectfully disagree. Money can take you only so far, but integrating your passion with your business provides sustainable motivation and the grit to weather the inevitable ups and downs of entrepreneurial endeavors.”
Zeynep Ilgaz said, “As an entrepreneur, you have a keen eye for recognizing unmet needs, market trends and potential business opportunities, regardless of the industry. Fancy accolades alone won’t help you strike gold, even in territory you know front-to-back. You simply need a critical eye, passion and the willingness to carry the burden to win big.”
Both entrepreneurs mentioned passion as a key to your success. Here are a few questions to ask yourself.
- What are your interests?
- What is something that you do in your free time?
- What do you constantly think about?
- In a perfect world, if you could ditch your 9-5 job to run your dream business, what would that be?
- Do you have any previous experience in that line of work that could turn into a business?
When you have a general idea of what you think you might be passionate about. Grab a whiteboard and don’t hold back.
Don’t disregard any idea that comes to your mind.
Many people think they need a brand new idea to start a profitable business. That’s nonsense. Put a little spin on the idea that already exists – combine to ideas in one?
Ask a questions. Conduct surveys. Analyze your competition.
- How do you differentiate yourself from your competition?
- What can you do better?
- Why should your audience choose you over your competitors?
Identify people who have genuine interest in your products.
What are their characteristics?
- Income level
- Education level
- Marital status
- Ethnic background
- Lifestyle preferences
Her are a few things you can do to help your business grow.
- Create a blog and feed your customers with valuable information
- Share the story behind your brand
- Give updates about new products
- Add comments section to each blog post to promote interaction among your customers
- Share promotional giveaways to provide incentives to purchase your products
- Run contests
- Share customers reviews and photos on your social media
- Upload video content
- Utilize SEO keyword search
- Incorporate paid advertising to your marketing strategy
Niche can result in better sales. Shoppers who search for a specific item are ready to buy instantly.
Niche helps to attract specific groups rather than the masses. A niche creates a steady growth.
Ecommerce is a continuous process of trial and error don’t be afraid to try new things.
Everything is in a constant state of change, always be on a lookout for a new opportunity to scale your business.
Share your story in comments below. How did you find your niche?