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At the risk of preaching to the choir. (a lot of people here will know this already). I want to talk very briefly about niche.
The "follow your passion" thing gets regularly debated, and I don't see this one being done too often. So here it is:
Don't go too niche!
If "follow your passion" is one of the most over-used cliches with regards to entrepreneurship, "pick a niche" or even "niche down" must be a close second. It's one of those things you hear often. I think it has become guru-speak. Repeated by people who either don't know what they're talking about, or are just trying to sound like they do.
I used to follow this advice, but you know what? It doesn't work if you go too niche.
I've done this a few times now, too many in fact. Found nice little niches and sold a few bits and bobs. Then guess what? Put simply: Game over!
If you go too niche, you'll never get on a fastlane path. If there's only one guy/girl out there who wants what you're selling, you've not fulfilled the commandment of "Need" in my opinion. If only one person, or only a small group needs what you're selling? You've gone too niche.
There are of course exceptions! If one guy/girl wants a remote controlled pink helicopter that can shoot chocolate ammo into his mouth and he's willing to pay $1m for it and I can get it for $50k, then fair enough. (Couldn't think of a good example, sorry).
What do you think? Comments appreciated.
The "follow your passion" thing gets regularly debated, and I don't see this one being done too often. So here it is:
Don't go too niche!
If "follow your passion" is one of the most over-used cliches with regards to entrepreneurship, "pick a niche" or even "niche down" must be a close second. It's one of those things you hear often. I think it has become guru-speak. Repeated by people who either don't know what they're talking about, or are just trying to sound like they do.
I used to follow this advice, but you know what? It doesn't work if you go too niche.
I've done this a few times now, too many in fact. Found nice little niches and sold a few bits and bobs. Then guess what? Put simply: Game over!
If you go too niche, you'll never get on a fastlane path. If there's only one guy/girl out there who wants what you're selling, you've not fulfilled the commandment of "Need" in my opinion. If only one person, or only a small group needs what you're selling? You've gone too niche.
There are of course exceptions! If one guy/girl wants a remote controlled pink helicopter that can shoot chocolate ammo into his mouth and he's willing to pay $1m for it and I can get it for $50k, then fair enough. (Couldn't think of a good example, sorry).
What do you think? Comments appreciated.
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