The thought of being able to sell to everyone is great, however being niche is where you want to start. Having a niche retail store or niche invention allows you to hone in on potential customers, while having a product for the masses allows for only broad marketing strokes. By going too broad your pockets better be deep or you’ll burn what could be an insurmountable amount of budget on marketing. If your pockets are deep or you are well funded then having a product for the masses is clearly ideal, but for the majority of start-ups it is best to look niche and expand from there.
What’s your expertise?
By having a niche invention you can not only market yourself as the expert of your niche, but if you work hard enough you can become a true expert. Think about… through all the product development, research and energy it takes to bring that idea to market you have in many ways already become an expert in your niche. Now, take it a step further by doing more research and by doing more to implant yourself as the ‘go to person’ of your niche industry. It would be hard to be an expert of all things housewares, but why not be the expert of your niche item. For instance it may be cooking eggs or organizing plates, or washing dishes. Hone in the exact area your invention or business falls and you can find success.
Success can not only mean with your invention, but it could also mean for a niche website or you may even become a niche manufacturer or inventor who licenses products.
Niche is the New BIG.
