SmallBusinessNewz

Don't Spread Your Business Too Thin

I was reading an article today called "Combining Existing Business Concepts" at Small Business Compendium. The topic of the article is pretty clear from the title. They cite YouTube who combined TV and the Internet. They also cite Google who has branched out from being simply a search engine to providing all kinds of services like maps, blogs, and all of their wonderful tools (not to mention buying YouTube).

How Well Are You Covering Your Niche?

The other day I discussed why you shouldn't ignore part of your market. I basically ranted about being tall and never being able to find clothes that fit me in regular stores. A commenter implied that it is not in these stores' best interest to provide these sizes because there are not enough people my size to justify the ROI. I'm not sure I totally agree with this, as like I mentioned previously, I see people my size and taller all the time.

Be THE Resource for Your Niche

One way to gain significant ground in your industry is through targeting a niche. Instead of trying to cover a broad spectrum of a demographic, try focusing in on a narrow slice of the pie. Chances are you will be able to excel in that niche because you will be dedicating more time to it.