Carving Out Your Niche - and Cashing In

I say “nitch”; you might say “neesh”. Either way, one thing that would-be entrepreneurs need to focus on is either taking advantage of the niche opportunities available or carving out your own niche. According to a recent Forbes article, mass market business models won’t grow nearly as fast as niches, “good news for small business and the future of 21st century entrepreneurship.” (And yes, this is probably the most times “niche” has been used in a single paragraph.) So, what kinds of things can you do to make yourself stand out? Commit to a one-day turnaround for projects or create something unique, like durian soda syrup and market it to specialty grocery stores (totally kidding about the durian, which I've heard is disgusting, but you get the idea). Look at what clients/customers want (personalized service, a unique product), and fill the demand. Here's one niche you might want to consider: selling blue moon ice cream in NYC. If you make it happen, let me know. And then check out some folks who might want to help fund your business plan! Do you already have your niche figured out? Share it here, and consider entering the Facebook Big Break for Small Business contest to be one of five people to win $20,000 and an in-depth training on marketing your business. You can also apply for the National Association for the Self-Employed's new Succeed Scholarship Program, where you can get up to $4,000 to pursue continuing education or training. (photo by BauschkeBearCompany, via Flickr)